I’ve had many sellers ask me for a “ballpark” on the value of their house when I first meet them to discuss listing their house for sale. The truth is, I could do a market analysis based on their description of their house and the changes they’ve made to it since they purchased it. But I would have to do the analysis with a very wide range depending on the actual condition of the house upon arrival. The problem with this approach is I would have to make a decision about what price to use for the financial breakdown I provide (also known as a Net Out), and I would have to pick an amount to be the “mid-range” price or the “most likely” sales price.

The issues that can arise with this approach are that you, as the seller, could get attached to the higher part of the range and then I’m forced to tell you that your house is not in the condition you thought it was in or in the condition you described to me on the phone. Conversely, I might err on the side of caution and give you a really low valuation not knowing the condition is like and then you’d have a negative view of my research.

All in all, I find it more productive for myriad reasons to review value on the second meeting rather than the first: we get to know each other better before talking about the financial side of things, I learn about your goals in selling the house which allows me to make a better recommendation about how to achieve them, I actually see the house and exact location and can take notes on details which you might not have known to tell me, and most of all, we develop some rapport and can start to figure out if the relationship is going to be a good fit.

Of course in some rare cases a general idea of value might be warranted and I have done those for people in the past without seeing the house (think tax protest or foreclosure proceedings), but I always make it very clear that the value might be off and might fit anywhere within a rather large range depending on actual condition.

(By the way, Realtors are not allowed to charge you for a market analysis so if anyone ever tries to charge for one beware. We are not obligated to do them but if we choose to, then it must be for free. If you need a formal appraisal you’d have to pay for that but a market analysis should be free).

So if you’re thinking of selling your house, feel free to reach out to me for a free market analysis which will start with me coming to see your house if you’re willing.