My Home Is Worth What???

It is no surprise that typically people put a higher value on their home than most people are willing to pay.  After all it is home to them.  Unfortunately with the down market over the past few years, this happens now more than ever.  Recently I had a client contact me and stated he is looking to move out of the area within the next couple years and instead of waiting until then to sell, he would like to sell now and then rent, so when he is ready to move he won't need to wait for the home to sell.

The problem is my client, Joe, paid in the mid 200's for his home he put a large down payment and put a considerable amount of money into replacing, repairing and upgrading the property.  I asked Joe, What do you think your home is worth? Joe stated " I am sure I can get $190,000."  Knowing the neighborhood, I was cringing when I heard this.  I told Joe, I would do some research and get back to him in the morning.  As soon as I got back to my office, I began a comparative market analysis on Joe's home. It was not what Joe was looking for.  Joe is a great guy and wanted to get him his price but with all the short sales and foreclosures in his neighborhood, the highest recent sale was $129,900 and there is currently a home listed $144,000 and considering Joe's pool and improvements, the best and absolute highest he could list for is $160,000 and he needs to be prepared to lower the price if it does not move.   I was concerned I was going to offend Joe when I broke the news.  I called Joe the next morning and asked if he was available to meet for coffee and crunch some numbers. Joe agreed. As soon as Joe arrived at the coffee shop, he looked at me and said "I already know".  I was relieved.  Joe told me he did some online research himself and was able to see the numbers.

The good news is that Joe was not offended with what I was able to find. Joe has decided to stay in the home for now and hopes the numbers turn more in his favor over the next year or so.  The bottom line is the price of a home is dictated by the market not what a real estate agent says they can sell it for.  Any real estate agent can say they can get any price for a home just to get you to list with them.  I run my business on honesty and integrity and not afraid to be truthful.

Real Estate and Technology

As technology advances it is imperative that I keep up with the advances and place it within my real estate business to market homes and stay cutting edge to provide the best service to my clients.


The best marketing tool in my opinion since the Internet is the QR (Quick Reference) code.  You know those square codes that can be scanned with your smart phone.  I have now introduced the QR code in most of my marketing materials including my business cards, house signs along with all other hard copy marketing materials.  The QR code on the house signs are the best allowing people driving by to scan the code on the sign for information on that property.


Social networks are also a great way to get additional exposure for my listed homes for sale.  Twitter is currently my favorite as I have amassed a large following of people other real estate agents in the Las Vegas area as well as all over the country so posting information on a specific home for sale is literally broadcast all over the country. Additionally, of course I use Facebook to gain additional publicity for homes I have listed for sale.


Technology doesn't stop on the customer side either. I use the latest technology to help me be more productive and save time.  My latest gadget attaches to my smart phone and allows me to open lock boxes from my phone so I don't have to carry a separate key box when showing homes.