I Know My Real Estate Agent Under Priced My House

Do you believe that your Cumming GA real estate agent underpriced your home?

A survey by RISMEDIA showed that 76% of home sellers believed that their property was worth more than the listing price recommended by their real estate agent.

Interestingly enough, 68% of the buyers involved in the survey were certain that those same agents had overpriced the listings by as much as 10%.

Who’s right?  Everyone!

Why? Because they all determine “value” in very different ways.

Virtually every seller I’ve worked with in the last two years has honestly believed, deep in their heart, that their home was worth much more than the price at which I (CMA in hand), the multiple real estate agents they interviewed before me, the buyers and the bank appraiser ultimately valued it.  And, to a point, I understand.  These sellers loved their homes and love is blind.

Have you ever looked at a friend’s husband and wondered just exactly what it is that she sees in him??   In your eyes, he’s too tall, too short, too chubby, too skinny, talks too much is or is just too quiet for your taste…  Yet, in her eyes he is the perfect man and the best husband on the planet.  It’s the same with houses!

When you have lived comfortably in a home, raised children in a home and made happy memories in a home, you feel that it is a warm, special place full of love that must be evident to all who enter (not so true!).  Sellers don’t always smell the litter box or see the tattered, outdated wallpaper or that notice the fact that virtually every surface in the house needs to be de-cluttered because they are looking at their home through the eyes of love. They’ve been happy there for years, why wouldn’t everyone else love it too?

When you add to that the fact that the seller remembers EVERY PENNY that has been invested in the property (yep, even ugly carpet costs money…) they place a value on their home that reflects their “total investment” both financial and emotional.

Because of this, I never argue with a seller about the “worth” of their home.  I simply say:  “I’m not telling you that your home is not worth that amount. What I am saying is that the current market simply won’t support that price (black & white numbers of a CMA don’t lie) nor will it appraise for that amount. This is a function of the current market, not a statement about your home!”  And as an added layer of confirmation, for the seller’s comfort, I’m always willing to split the cost of an appraisal with the homeowner if they want a second opinion!

Like the end of any love affair it is a tough step to take, but if a seller can get past the emotional arguments and allow themselves to understand that the buyers who view their home will not be “in love” with their house, and will be seeing it as it truly is (warts and all), they are one step closer to getting their property sold and moving on.

If you are thinking of selling, give me a call today!  I’ll be happy to provide a FREE – no obligation – CMA to help you see what the market value of your home is today.

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Disclaimer: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice. All content, including text, original art, photographs and images, is the exclusive property of Gayle Barton and may not be used without expressed written permission.