Tuesday, March 30, 2021 / by Johnnie Morine
Buyers Always Determine Value!
The value of a property is determined by what a BUYER is willing to pay in today’s market based on comparing the property to others SOLD in your area. Comparables are provided by excellent REALTORS because sold prices are not public knowledge.
REALTORS don’t determine value, we give estimates. It’s a REALTOR’s job to give estimates to buyers and sellers.
To keep in the spirit of the Texas non-disclosure laws, most of the Multiple Listing Services in the state have rules that mirror the law by prohibiting real estate agents from disseminating sales data to the general public. The sales prices can be shared with clients for purposes of pricing homes, making offers on homes, and other specific reasons, but not publicized in a general manner. So you can't trust the Zillow numbers and what a neighbor might have thought.
Clients must be good clients and well-educated in today's market. Offering over list price is vastly the new trend in Texas markets. This doesn't mean the buyer must pay over appraised value. Speak with our agents for details on how to buy today! The market has changed but the need for a home remains the same. Offers must be Imperial and Bold!