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The main thing sellers are not thinking about when they consider the equity they might have on their home is the actual closing costs in selling a home which does not only include the realtor costs. It's not that they don't really think about it, sellers usually get surprised when it's brought up.
Andrew adds that there are a lot of websites that provide home value but they don't usually do justice to it because they don't have all the data about the home which factors in the condition, they can't factor in borders for schools, etc.
Robert discusses that though Zillow has many good things about it, the Zestimate is one of the things that isn't that great. He uses South Tampa as an example. Zillow doesn't really differentiate between North of Kennedy and South of Kennedy. The comps provided in Zestimate includes those from South of Cambria which makes the value inaccurate. He also mentions other areas like Westchase and Carrollwood. These sites don't understand what the boundaries of these neighborhoods are and what affects the value of the property.
Andrew highlights that these sites are great for exposure. He says that they pay hundreds of thousands of dollars each year to get more eyes on their listings but doesn't agree that they are correct in estimating the value of your home on the computer which is why this profession exists.
This is why it is important to have a professional go look at the property, as Robert says, to assess and get the correct value.
Andrew mentions some of the services they provide like a stager crew they work with, and how they constantly give advice to their clients on what to improve, the changes they can make to maximize the value of their home without necessarily spending money. Just little things that could help sell the property.
Making sure the home is priced correctly is something very important. Andrew goes on to say that someone who's been paying attention to the market would have a better understanding of the correct values as compared to someone doing it for the first time.
Another thing that first time home sellers need to understand is the process and how it works. They need to be open to educating themselves about the process. He explains further that when working with a great real estate team, they will be providing the seller steps and guidance on what to do. He mentions that they make sure that all their clients' listings have great photos on a good weather day, as just one of the steps to setting up their clients for success.
Robert closes the discussion by agreeing with Andrew and adding "Trust the process. Trust that we are working for your best interest."
For more Tampa Bay Real Estate news and advice, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
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