I apologize for the poor posting - I'm a newbie at this too.
I've been tasked by my siblings with selling our family estate ( 100 acres) in the hill country.
Eighteen months ago I had a local certified appraiser perform an appraisal on the property - the total of which pretty closely matched the county tax appraisal. So, we felt that would be a good number to use as a starting asking price.
I contacted a local realtor to discuss the possibility of him listing the property for us. After spending an hour and a half looking over the property he inquires what our asking price will be and when I give him the answer and the reasoning behind it, he immediately tells me he needs to do his own analysis and, by the way, we should hire his buddy to perform a land survey asap.
Well the realtor took two days to perform his price analysis and he says our opening asking price should be 8% lower than the appraisal and that we should realistically expect to sell for 8% less than his suggested opening price - a 16% deduction - in value in addition to realtor fees, survey fees, and other closing costs.
This is my first real estate transaction, and I'm surprised that the realtor is stating that he needs to be the one to set the asking price, especially when it is so different from the independent appraisal and the tax appraisal.
Is any of this normal or am I justified in being very suspicious of this realtor's motives?
I would appreciate any advice and suggestions.
I've been tasked by my siblings with selling our family estate ( 100 acres) in the hill country.
Eighteen months ago I had a local certified appraiser perform an appraisal on the property - the total of which pretty closely matched the county tax appraisal. So, we felt that would be a good number to use as a starting asking price.
I contacted a local realtor to discuss the possibility of him listing the property for us. After spending an hour and a half looking over the property he inquires what our asking price will be and when I give him the answer and the reasoning behind it, he immediately tells me he needs to do his own analysis and, by the way, we should hire his buddy to perform a land survey asap.
Well the realtor took two days to perform his price analysis and he says our opening asking price should be 8% lower than the appraisal and that we should realistically expect to sell for 8% less than his suggested opening price - a 16% deduction - in value in addition to realtor fees, survey fees, and other closing costs.
This is my first real estate transaction, and I'm surprised that the realtor is stating that he needs to be the one to set the asking price, especially when it is so different from the independent appraisal and the tax appraisal.
Is any of this normal or am I justified in being very suspicious of this realtor's motives?
I would appreciate any advice and suggestions.