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 Lake Vermilion Real Estate

A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

June 19, 2008

A List For Sellers.

When the real estate market is in flux (as it is now) it becomes increaasingly difficult for a seller to determine an appropriate asking price.

There are numerous factors to consider!

Professional real estate agents have the tools to assist with this process. Communication between the seller and the agent is the most significant part of a property value determination. The following list describes some very valid facts all sellers should keep in mind when bringing their property to market:

There is no exact price for real estate.

Agents do not determine what the house is worth.

The agent is not buying the property.

The market alone determines value.

Other agents, friends, or neighbors do not establish value, unless they intend to buy the property.

The seller controls price, product, and terms.

The agent attracts buyers to the house, buyers establish the eventual price.

The seller should recall how they first responded to their house when they were house hunting.

The seller’s competitors are other property sellers, not other real estate companies.

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