Category Archives: Sellers

There are a few ways to find out how much your property is worth. But first lets understand why it is important for sellers to know how much their property is worth.

How much is your home worth?

It is important to know because you want to price your home at the right level that will attract the most qualified buyers to look at it but not too low so that you sell your home at too low a price. You want to get the top amount possible for your home but not price it too high that no one comes to look at it or it stay on the market for too long.

In order to assess the value of your home you may check real estate websites such as trulia.com & zillow.com to compare what similar homes in your area are going for. That is a very effective way to do it but it might take more time. Another way that you can assess the value of your home is to contact a real estate broker or real estate appraiser and have them look at your home.

You should avoid asking friends because they are most likely to be wrong and tell you varied answers that will confuse you further. You should always consult a professional if you are seriously considering selling your home.

Another factor to watch out for is overvaluing your house. This scenario is what behavioral economics call the endowment effect which is when people overvalue something because they own it. This can occur because you had memories in the house, or that you love the neighbors, but you must be careful not to overprice the house and let the endowment effect cloud your judgement.

So you’re selling your apartment but don’t know if you should use a broker?

The apartments in Manhattan are extremely sought after and many owners would like to sell it on their own because they want to save a 3-6% commission check. You might be saving yourself money by selling your apartment on your own but you will see why it might beneficial to you to use a broker.

Good brokers will get you a high price for your apartment.

Brokers that sell apartments add tons of value. You might look at them selling your home as a loss of 3-6% of your money but let me tell you all the value that you get for that.

Good brokers

• Sell your apartment for a higher price
• Know the market inside and out and offer you a realistic price of what you will get for the apartment
• They spend their own money of advertising effectively to make sure that all potential buyers are reached
• Guide you through the closing process and help the buyers get a mortgage
• Make sure all paperwork is intact
• Might have prospective buyers already
• Are in the real estate loop and have connections to many people around the city
• Hold open houses to get a massive amount of traffic to your home
• Are full-time so you don’t have to be and you can focus on working while getting your house sold

If any of these features and benefits are important to you, then I’d suggest you use a broker. Otherwise, you’d have to deal with a headache.