I went on a Listing appointment, and the Seller had conducted a price evaluation through RBC online. It came in $300,000.00 too high in my opinion.
Then, I checked another property, it came in $150,000.00 too high, again in my opinion.
How does this happen?
It is very simple. They are using the price that TRREB uses for 2022. It’s the average of all of the monthly prices for the entire year. The correct number should have been the December number. Just compare this to the stock market. By using the number they did, they ignored half the interest rate increases. Most clients will understand this.
Brian Madigan LL.B., Broker