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Real Estate is a commodity just like anything else. For example, Crude Oil, Diamonds, Gold, Stocks, anything that has value can be compared to Real Estate. Their worth is determined by the market, supply and demand, and other financial factors.

When people sell their homes, often they have a strong emotional tie to the property, and for good reason. They've put years of living, hard work, house payments, and possibly thousands of dollars worth of upgrades or repairs. It's difficult for these homeowners to look at the property as a commodity or an item who's value is determined by outside factors.

This often leads to sellers who feel the property is worth more than it actually is, and to them, it IS.

For example, let's pretend that you purchased a Beatles record in the 1960's when they first were released. You listened to it, you took great care not to scratch it, you did not write all over it. You kept it in it's original paper sleeve. Now, 40 years later, you want to sell the record, so you purchase a book and find that in superb condition, the record is valued at $300. GREAT! Right?

The problem is, it's only worth $300 if there is a buyer who is ready, willing, and able to purchase it for that price. If you put that same record on eBay, it may only sell for $200. The market determines the real value of the commodity. And though you may feel like you deserve the $300 because of how well you took care of your investment, if you are intent on getting that record sold, you have to accept what price the market is willing to bring at the time. Maybe you are in a position to keep the record for a few more years and when the economy is booming, sell it at a higher price.

Housing is the same way. Sellers have a hard time disassociating themselves from the property they are selling, and because of the emotions they feel towards the property, overvaluing the investment. The important thing to do is to listen to your realtor when they perform the Market Analysis and once you've made the decision to sell, remember that it's business, and no longer personal. Your Realtor should have a pretty good idea of what you can get for your property based on the comparable recent sales.

Your Realtor will get the most money for you that the market will bear at the time. That's his/her job.

Listen to their advice, and price your home attractively so it will sell, and then allow your Realtor to earn their commission.

Want to find out what your property is worth on today's market?

Call 269-432-5328 or 269-341-2227 today for a free market analysis.

Done-Deal Realty, Inc