No. of Recommendations: 2
AJ hit it on the nose with his suggestion and in what a Realtor does. In addition, how do they market the property. Just putting it in the MLS is not enough depending on the generation that may buy the house. Can someone driving by get a text message about the property? Do they have much of a social media presence? Put a video up on UTube? Which websites will the listing be put up on? Are they accessible nearly 24/7 and do they text? Are they part of a team, which often gives more coverage and eliminates waiting for someone to get out of a closing?

And then there is pricing. How well do they know your area and how conservatively are they going to price it? If they are desperate for a commission, they will under price your house to sell quickly. Make sure they bring comps of similar sold and leave them with you to analyze to confirm that they do indeed compare. Ask them their method of establishing a price range. I sold our house a couple of years ago, interviewing 5 agents. 4 of those 5 very much undersold the price of our home showing comps to our house from a different part of town and frankly 30% less square footage and a lower quality product. A 3500SF house is simply not comparable to a 2400SF house as it will be purchased by a different buyer. One is a starter home, one is a move up. And in our case, our part of town was a higher price point than just 2 miles away and our section of the neighborhood was less preferred than the other side of the neighborhood, a 2 minute walk. The Realtor we chose understood the micro economic climates of our area and was able to express the subtleties in her comps. The worst agent said she looked at the average of the sold prices of the comps and used that to price. She got a lecture from me on how to set pricing, what averages meant and why it was an inappropriate approach to setting an individual property's price. (I was a Realtor for 4 years and a student of real estate for decades.) Some of the worst in setting low ball prices were the listing generator super stars. They don't want to work for their sale and are so protective of their sales stats that they under price for a quick sale.

In the end the house sold for $50K over where the Superstar agent wanted me to "start" at, with the understanding that we would quickly reduce the price by $25K. And the appraiser wanted to know why we had under priced it so much, given houses on the other side of the neighborhood sold for $50K more. (Our side of the neighborhood was closer to the quarry which could be noisy at times, something he had no local knowledge of but had caused contracts to terminate in the past.)

It's best if you know your area's values, but since most people don't, have a professional that does.

IP,
not missing any local open house tours over the years and keeping a file of true comps with notes
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