Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty)

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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

I say "It depends on why you're asking -  The bank will give you one evaluation, your insurance company will double it and a buyer will cut it in half!"

May 29, 2016 12:03 AM
Rainmaker
4,212,195
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Why do you ask?  Are you interested in moving?  Are you just curious?   

I start by asking more questions.  

May 28, 2016 10:47 PM
Rainer
391,355
Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

I tell them I would love to give them my professional opinion of value. "Which day works best, Tuesday or Thursday, for me to come an see exactly what we will be selling?"

May 28, 2016 09:20 PM
Rainer
171,023
Richard L. Sanderson
Richard L. Sanderson Consulting - Kalama, WA
helping improve local property tax systems

Kevin J. May - As a real estate appraiser (for property assessment purposes) I get this all the time. My standard reply is: "I can't do that without substantial analysis. I need to consider comparable sales and know much more about your property. It's the equivalent of asking someone to guess the value of an item they have hidden in a shoebox."

May 28, 2016 10:34 PM
Rainmaker
2,044,370
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

NO , I tell them that pricing is an exact science and that the experts (APPRAISERS) always start with an Inspection of the subject property !

May 28, 2016 09:18 PM
Ambassador
1,847,653
Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

I hate being put on the spot like that... "I have a 3br/1.1 bath with an olympic sized swimming pool... what do you think that would sell for?"

I respond with, "I have a 1987 Ford Fairlane V-8 with air conditioning... what do you think that would sell for?"

They look a touch befuddled and answer "I don't know... I'd have to do some research".

I respond "Me, too".

May 29, 2016 12:03 AM
Rainmaker
934,323
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I always tell them I have to see the property first, research any upgrades before I give them a number - and even then the number is a "guesstimate"

May 28, 2016 10:59 PM
Rainmaker
1,562,074
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Or, better yet, the all inclusive "So, how's the real estate market doing?"  Or, "How are interest rates?" which always baffles me, since I'm not a lender.  I can never spout off on value until I run the numbers.  But when an owner does ask you what their home is worth, what a great foot in the door to get an appointment to come visit them to see the property.  

A jeweler isn't going to be able appraise and evaluate a diamond by doing so over the phone, or off the cuff, or without their loop.  

May 29, 2016 04:47 AM
Rainmaker
1,319,519
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

My common responses, with a smile and a kind sense of humor, never arrogance:

 

"I try to get my doctor to prescribe pills to me over the phone, but he still in 2016 insists on me coming in for an exam & to answer specific questions first."

"Sorry, I don't do Zestimates, as a professional, I owe you more than that, so I'll need to see your home, before I'm able to share what the market says your home is worth."

 

and I'll be adding Anna Hatridge 's response, I like that one.

May 28, 2016 11:52 PM
Rainmaker
923,770
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

This is why I am a boutique. We are not a free instant info line. "Market and financial analysis are services we perform for our clients. If you would like to set up a consultation, we will be happy to discuss our services with you."

May 28, 2016 11:29 PM
Rainmaker
1,574,048
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

If it is my local area I have a good idea but not exact. My response would be a range with a disclaimer that "multiple factors can influence positively and negatively so when can I come by?"

May 28, 2016 10:52 PM
Rainmaker
1,429,266
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

More than a dollar and less tha the sky is the limit! Now do you want a real answer or!

 

May 28, 2016 10:19 PM
Rainmaker
860,815
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I usually tell them I have to see it first. That usually eliminates the ones that are just curious and asking just to ask.

May 28, 2016 09:26 PM
Rainmaker
2,057,186
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I say, let's set up an appointment so I can give you information about the neighborhood and also take a look at your home. 

May 29, 2016 04:01 AM
Rainmaker
2,668,933
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Actually it is not hard to grab a value at random. Land has a value and to improve it, costs X per square foot. Ask where it is and you can offer a figure

May 29, 2016 01:09 AM
Rainmaker
1,659,205
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

In our world of instant gratification, the concept that accuracy is not always available with the click of a computert key needs to be 'sold' to the public. An example supporting this is appraisers for accuracy require a home visit, and a fair amount of research.

May 29, 2016 12:18 AM
Rainmaker
5,573,163
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we will never give an answer until we have seen the home and then the research.... 

May 28, 2016 11:58 PM
Rainmaker
4,253,919
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I always tell them I need to see the home to adequately compare to their competition of recently sold properties. I ask for an appointment.

May 28, 2016 11:16 PM
Rainmaker
1,465,977
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kevin J. May Simple answer: It's worth what a ready, willing and able buyer will pay for it. Offer to do a CMA.

May 28, 2016 11:14 PM
Rainmaker
3,334,673
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

We do not give an instant response and tell homeowners...one of their largest assets needs the time and care we take to evaluate ...not a moment's response.

May 28, 2016 11:03 PM
Rainmaker
908,303
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Spout off a number.

I would hardly call it that.

With all the freely available numbers the owner has access to, it would be a mistake to think they are shopping for yet another incorrect value.

What are they really wanting?

With one question you can determine if they are trolling for opinions or looking to make a change. The response, if any, that one gives, must be directed at the intent.

But 'spouting,' is what most agents do whenever they give their opinion usually sounding like, "That is over-priced."

What I do is compel the owner to vest themselves into the outcome. Bad data in, bad outcome certain. In essence, I can not see their property, but THEY can.

May 28, 2016 10:49 PM
Ambassador
3,986,910
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I hear it too and just defer to my standard answer that until I see it and compare its features to what has sold recently in the marketplace I cannot give you a price range. 

May 28, 2016 10:43 PM
Rainmaker
3,070,584
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

The latter

May 28, 2016 10:09 PM
Rainmaker
797,532
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
Realtor in Naples & Marco Island, FL

I tell them that I would like to see the property, do the research and then meet with them to go over my findings and recommendations.

May 28, 2016 09:59 PM
Rainmaker
1,748,588
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Never & I always wonder if they think I am a walking computer. I do not.

I have told them the last one sold for 'x' but that's not your model if I know.

May 28, 2016 09:30 PM
Rainmaker
2,111,392
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Ask them what your car is worth... get the well, I don't know what you drive... exactly. Like a diamond, gotta put it under the microscope, check the other properties around it too and what sold, what is competing for a ready, willing and able buyer. 

May 29, 2016 08:13 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kevin J. May - well, there is a canned answer for that...

"Gee. I have not seen your home yet.." (and schedule the appointment.)

May 29, 2016 04:31 PM
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

That's for Zillow, not for us!

May 29, 2016 02:42 PM
Rainmaker
533,044
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

i always ask them what they think its worth and why?

May 29, 2016 02:17 PM
Rainmaker
1,683,406
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I'd tell them that I haven't seen the inside yet.  Then make an appointment.

May 29, 2016 01:23 PM
Ambassador
4,682,717
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I like to share why it's important for me to do some research so I can give them the best answer. Even if they are not planning on selling they deserve a well-researched answer and not something I pull out of my real estate hat!

May 29, 2016 10:41 AM
Rainmaker
1,231,605
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Kevin J. May Once again our ActiveRain community has given you many good answers

May 29, 2016 08:32 AM
Rainmaker
838,482
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Not only do they want an instant answer, they want to hear just what THEY want to hear!

May 29, 2016 07:21 AM
Rainmaker
281,868
Nancy Robinson Ranked #6 in MI
Century 21 Town and Country - Royal Oak, MI
#11 Century21 Realtor in the US, #16 in the World

 I say.... to be fair to you I have to see  the home.  Or I can just give you a range based on your report... Why do you ask? Ands use it  as a further opening for a listing appointment.

May 29, 2016 06:26 AM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      The value depends on a number of factors.  No Real Estate Broker or Real Estate Appraiser can tell you what your property is worth without physically inspecting the property.   I can come by this afternoon or tomorrow morning to take a look, then we can determine the value of your house.   Which time works best for you?

May 29, 2016 05:45 AM
Rainmaker
4,799,651
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No, I don't answer.  I will let them know what other homes have sold for in their vicinity.

May 29, 2016 04:09 AM
Ambassador
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Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

If I am asked by someone in my own neighborhood, which I farm, I have a pretty good idea of the range just by hearing what type of home they have and where it is located.  I try not to give one specific number off the cuff.

May 29, 2016 04:01 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I get this kind of question about forestland properties all the time too.  and have an AR friend from california who keeps getting frustrated because I cant give him a value estimate.

Far to complex to do over the phone, we need to spend some time in the woods...

 

May 29, 2016 03:05 AM
Ambassador
3,119,314
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Absolutely not.  I won't provide a valuation without seeing the property and asking a LOT of questions. 

May 29, 2016 02:06 AM
Rainmaker
4,414,250
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Ned to see it before I can quote you an estimated value!

May 29, 2016 12:54 AM
Rainmaker
1,172,264
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Hard data..... Tell them it takes time .....

May 28, 2016 11:21 PM
Rainmaker
3,368,106
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

For an exact number i have to see the home.  I usualy pull comps based on the tax card or old mls data and can adjust after seeing the home.

May 28, 2016 10:06 PM
Ambassador
1,616,454
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I know we are good but we need to do some research to come up with a sales price.

Jun 18, 2016 08:40 AM
Rainer
160,011
Cesar Bautista
Keller Williams Realty Central Coast ~ Pismo Beach - Santa Maria, CA
Your Central Coast Area Realtor 805.264.1646

Kevin, I say it depends on the person and the property.  If I'm familiar with house prices in the area I might give them a price range but will always follow up with questions to probe motivation and urgency and getting their contact information for future follow.   If they are ready, I schedule a time to look at the house for a closer look and tighter numbers. 

Jun 02, 2016 01:22 AM
Rainmaker
936,489
Peter Mohylsky. BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

I never spout out an answer.  I think all about the market in general and get back to them promptly.

Jun 01, 2016 08:30 PM
Rainer
8,164
Jessica Friedland
RE/MAX Infinity Group - Spokane, WA
Real Estate Broker in WA and ID

I usually hop on RPR and give them a "preliminary valuation".

Jun 01, 2016 02:54 PM
Rainer
21,291
Grace Hanamoto
Intero Real Estate - Sunnyvale, CA
Quality, Knowledge, Professionalism, Experience

I can only imagine what it's like to be a doctor and have people shoving body parts in your face and asking, "what do you think is wrong here?"  I do have people ask me all the time "how much is this property worth?" and "is it still a seller's market?" As if I know or can answer without seeing a property or looking at statistics.  I do give "generalities"--the median price of homes in our county, the number of homes sold, the number of days on market, and the number of price reductions.  But then I explain every geographic region is different and a lot depends on the area.  Sometimes they ask for a CMA or more information, and sometimes they don't.  For those who do, they are serious about buying or seling, and the others simply want to know if you'll tell them what they wanlt to hear and then they'll call their "usual" agent, who is not you! LOL!

So yes, I give generalities and then specifics to those who are actually interested in getting the information.

Jun 01, 2016 07:12 AM
Rainmaker
204,050
KAREN SANCHEZ
Hamilton Landon Real Estate - Apple Valley, CA
...Marketing your home like no one else will.

I tell them $2 million. Then I laugh.  I tell them it's worth that to you right!  Then I tell them a buyer may want to offer a little less than that...they laugh.  Then I ask them if they want to talk about it later.

May 31, 2016 07:54 AM
Rainer
69,694
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

If I can't view the home right away, I usually find the low to high range based on comps and info on the subject property.  If it's in tip top shape, move-in ready, updated, etc.... then they'll be closer to the high range.  If it hasn't been updated in years or decades, needs minor repairs, etc.... most likely closer to the low range.  I also tell them if it's trashed, neglected, or worse, it might be even lower. 

May 31, 2016 06:38 AM
Rainer
59,971
Coal Infantino
Coldwell Banker - York, PA
Realtor specializing in south central PA

I wont give them a number because I find even if you ask about the condition of their home it is rarely accurate. 

I ask to walk the property and then pull accurate sold comps before I shoot myself in the foot.

May 31, 2016 05:58 AM
Rainmaker
2,007,110
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I think you can throw out a bracketed price so they know that you know the neighborhood and then tell them you can't give a price until you see the house. 

May 30, 2016 10:28 PM
Rainmaker
1,858,506
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Actually I have never been asked that question without being invited to see the home, Kevin!  But I love all the responses you received here which show real clarity from agents.

May 30, 2016 10:12 PM
Rainmaker
183,455
James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Sure, I can give you a number but have no idea how valid the number is until I see property and conduct some research. Last time I was asked was from an out-of-state owner/broker who was trying to check the number her agent (my competitor) gave her. I politely declined but told her agent about the phone call. Got back an, "Oh, thank you." Ridiculous requests are part of the business but this broker/owner should have known better!     

May 30, 2016 03:52 PM
Rainmaker
1,525,355
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I like Michael Jacobs approach!

May 30, 2016 12:41 PM
Rainmaker
1,413,214
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I tell them that it requires research and I'd be happy to tell them over a listing appointment.

May 30, 2016 11:55 AM
Rainmaker
166,401
Amanda Thomas
Providence Group Realty - Plano, TX
​Broker, SRES®, BPOR, MCNE, ​Certified DRS Agent™

The only responsible answer is to request to see the home so you can properly evaluate the home's condition, improvements and upgrades so you can provide your best estimate.

May 30, 2016 02:01 AM
Rainmaker
415,391
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, GRI,SFR, REALTOR®

Good morning Kevin,

I will ask several questions before answering and researching.

May 29, 2016 11:22 PM
Rainer
258,137
Richard Robibero, e-Pro, ABR, SRS
Panorama R.E. Limited - Toronto, ON
Selling Your Home as if it were My Own!

Not only that, I have had two people ask me to list their property sight unseen in the last couple of weeks.

May 29, 2016 10:53 PM
Rainmaker
4,333,641
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I always tell them there is no way I would do them a dis-service and shoot from the hip. I might tell them a very broad range of where homes in their neighborhood have been selling in the past 3-6 months. But I won't provide a number until I see the hosue.

May 29, 2016 10:46 PM
Rainmaker
6,856,043
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Explain the process.

May 29, 2016 09:11 PM
Rainmaker
634,332
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

No. I tell them I need to get inside to give a real figure. But I'll give them averages for the area if they insist.

May 29, 2016 08:09 PM
Rainmaker
1,541,748
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I research and provide a valuation. General questions usually get general answers( aka zestimate kind). I'd answer by asking: ''why do you ask?'' and go from there. 

May 29, 2016 05:43 PM
Rainmaker
61,716
Scott Thompson
Columbia Mortgage Plus - Blue Springs, MO
Commerical Finance - Blue Springs, MO

It is worth whatever somebody will pay for it.  Higher end is a wild card, you never can tell. 

Some sit on the market for years while others sell before the listing posts.

Is your seller kinda Forest Gump in the upstairs?

May 29, 2016 02:55 PM
Rainmaker
1,209,159
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

You need new owners or a better way of pre-screening them.  

May 29, 2016 12:35 PM
Ambassador
724,204
John DL Arendsen
CREST "BACKYARD' HOMES, ON THE LEVEL General & Manufactured Home Contractor, TAG Real Estate Sales & Investments - Leucadia, CA
Crest Backyard Homes "ADU" dealer & RE Developer

Happens all the time in this biz. It's a real circus with Manufactured Homes. 

May 29, 2016 07:59 AM
Rainer
231,174
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

both. i think i would give a number to be optomistic (ask questions..then ask to see it and provide accurate data

May 29, 2016 07:12 AM
Rainmaker
444,020
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

There's a Zillow for that.  I never give a number without doing my research.

May 29, 2016 07:07 AM
Rainmaker
5,764,020
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kevin,

That is crazy that they even ask that...A

May 29, 2016 03:06 AM