Five Factors That Determine Your Home Value

Posted by Brandon Vasquez on Monday, July 14th, 2014 at 11:15am.

Sitting in the salon yesterday, I'd overheard a woman discussing selling her home. When asked which Realtor she'd hired, her response was, "I'm going to represent myself--there's not that much to it." Really.

Her reasoning piqued my curiousity. Sadly, not one of her comments reflected even the most basic knowledge of the market, proper presentation, nor did she have a plan. She'd simply based her decision to 'handle things on [her] own because agents want 7% and [I'm] just not going to spend that when I can do it myself.'  She had determined her sale price  based upon what she and her late husband had spent building the home forty years ago, and what she deemed it was now worth. As a widow, she'd already relocated out of state. She painted the rooms in her house herself, stating that 'although it's a little dated inside, it has been well cared for...besides the next people are going to do what they're going to do with the house anyway." In her estimation, she believes 'the property should sell by September because people want to be settled when their kids start school in the Fall.' She plans to have her tax attorney review any contract.

It never ceases to amaze me that there are intelligent people out there who fail to recognize that there are simply some jobs best left to professionals. Over-estimating their own ability to navigate unknown waters of the real estate market while under-estimating the value and necessity of the comprehensive trained and licensed Reator's approach. Not taking into consideration how legal process, networking, appropriate pricing and elevated presentation has on being competitive and successful.

I'd no sooner try to list my home without a licensed real estate professional than I would perform dentistry on my children! One gets what one pays for--hopefully the lady I'd overheard will be okay.

--Contributed

Five Factors That Influence Your Home's Resale Value - U.S. News article July 2014

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