Posted by Keen Brothers on Thursday, July 24, 2008 at 6:15:41 PM By Keen Brothers / July 24, 2008 Comment
As a kid, I collected baseball cards. I would literally spend hours reviewing, organizing and "pricing" my cards. And if you've ever collected baseball cards then you're probably aware of Beckett's Price Guide. For those of you that don't...Beckett's Price Guide is a monthly magazine that publishes the "going rate" for individual sports cards. Now, here's a simple truth of baseball cards (and all collectibles): a baseball card is only worth what a ready buyer is willing to pay for it when you want to sell it. Meaning my baseball card was only worth the cardboard it was printed on UNLESS there was a buyer willing to pay me more. Sure...I could say it was worth $5 (or $5000 for that matter) but, at the end of the day, until I someone offers to pay me for it - it's nothing more than cardboard and hope.
Similarly, when you decide to sell your home you're going to set the price, but it's the buyer that ultimately determines the value. What I mean by that is you can put a million dollars on it, but unless somebody's willing to pay a million dollars, you haven't sold it. All you have is a mortgage and hope.
My job as a professional agent is to deliver the facts about what has sold and what's for sale now so my clients can make a wise decision about how to price their home to sell in the current market. If a house is priced properly from the beginning, it'll sell for full value, and in less time, to boot.