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How is your estimate different from a Zestimate and other online services?
We’re humans so our home value reports are all researched thoroughly and made possible by years of experience and local expertise.
Online estimates from Zillow, OpenDoor, Redfin, or any online home evaluator using an algorithm is not a valid replacement for a comparative market analysis from a real estate agent.
a comparative market analysis (CMA) from a real estate agent” –Zillow.com
Zillow.com, their Zestimates are based on an algorithm that is pretty complicated to understand, even for us real estate agents. We
understand the importance of comparing homes in the same area, but we also know how many other factors can
increase/decrease that number that are not included in the “algorithm.”
So, how do you determine my home's value?
Shouldn't we overprice my home at the beginning so that we can create a bidding war?
If you’re like most people that we meet with, you think that the longer your home stays on the market, the more offers will come in, creating competition around your home, resulting in the highest offer possible.
It’s basically like an auction, right? Wrong. The longer your home stays on the market, the less likely it will sell for asking price (or above).
Why? Well, if you go to an auction, the bidding price is set, and offers go up as time goes on. But your home isn’t a rare piece of art. Amongst a sea of other homes for sale, yours will quickly become stale and buyers will wonder why it hasn’t sold yet.
According to a study by Zillow, homes that were on the market for about two months sold at 5% below asking price, and homes that were on the market for the longest amount of time (eleven months on average) sold at 12% below list price.
Meanwhile, the homes that ended up selling at or above listing price sold right away.
Having an accurate, and more importantly, realistic pricing strategy from the start is how your home will be sold for the most money and quickly. You don’t want to price your home too low and neither do we. But you also don’t want to let it sit on the market for too long.
Working with Adam and his team was the most professionally and personally rewarding realtor engagement I have experienced in my 76 years to include moving 19 times in 27 years while serving in our United States Air Force. Let me start with the RESULTS: my property sale closed in 3 WEEKS from listing and sold for $13,000.00 MORE THAN it was listed for. All I had to do was agree on a price with Adam and he told me, “I will take it from here” He and his staff gave me timely updates on how the process was going and kept my mind at ease during the entire process. The closing went off like clock work and the next thing I knew, the money was in my bank account. If I ever have another property to sell, MY FIRST CALL WITH BE TO ADAM!!.