Is the Realtor who tells you the highest price for your duplex the best agent for the job of selling it?
When it comes to getting a listing, some Realtors will tell you what you want to hear. They’s say your property is worth thousands of dollars more than the other agents, just to get the listing.
Then, when it sits on the market month after month, they will ask you for a price reduction. And by that time, the biggest wave of qualified buyers who are already in the market looking for property will have passed.
When it comes to selling your duplex, it’s important to remember Realtors do not determine the value of your property; the market does. A Realtor’s job is to help you interpret market data in order to price your duplex competitively.
That price will not be based on what you need or would like to have in your bank account after the sale is closed. It is based on comparable properties in your area that have recently sold.
Incidentally, these are the same sales an appraiser will use to substantiate or refute value when your buyer asks for a loan.
In other words, you and your Realtor are going to have to prove, scientifically, the property is worth what you think it is. And the only way to substantiate that is with data.