What is Market Value and Who Decides What Market Value Is?
Market Value is not the listing price of a house. It’s not the Tax Evaluation. It’s definitely not the Zestimate! The real estate definition of “value” is literally “the price at which a ready and able buyer is willing to pay. And, a seller who is willing to sell” a house. The operative word in “market value” is market. In other words, when your house is being evaluated by one buyer’s agent representing one buyer, the value could be whatever that one buyer is willing to pay. You eliminate competition for your house by keeping it outside of it’s the market value. When you’re ready to sell your house you will want it exposed. You will want to maximize your equity.
Marketing your house through the local Multiple Listing Service (MLS) will get it sold faster and for more money. When listed in the MLS through a competent real estate professional – the agent will consult with you in establishing your sales price based on their finding in the MLS. Then through exposure in the Multiple Listing Service (MLS) a buyer will preview the property. Most likely with an agent representing them. A good buyer’s agent will also check comparable sales to advise the buyer before writing an offer. Once the buyer and seller have agreed on a sales price, the buyer’s lender will order an appraisal. This is to establish what the lender will lend on the property based on the comparable sales in MLS. They also have other resources based on previous sales in the neighborhood of your house.
Only members of the Houston Association of REALTORS® have access to the Houston MLS . Working with a REALTOR® who knows the neighborhood market is your best bet. At least it is best to rely upon one who knows the MLS data. Real Estate Experience is Not Expensive – It is Priceless… #MartiP #realestate #sellersagent #buyersagent #thereisadifference #homeforsale #house #home #agent