Reducing information ASYMMETRY

Topic/problem or issue Sale of house for best price

Questions on topic: How much is my house worth? What profit will the market allow me to make? Can I sell it within a month? What are houses selling for in my area? Are there a lot of houses for sale in my area? ( inventory)

Who should I get to sell my house? what do I have to do to get my house ready to sell? Will I have to repaint it? Is there anything I could do inexpensively to make more of a profit on my sale? What happens if I price my house too high? What hidden knowledge am I lacking?

Question: Is it possible to sell my house for a reasonable profit within the time frame of a month?

Research Proposal I want to sell my house for a profit within a month. I have never sold a house before so I need to have a realtor I can trust. I do not want to overprice my house so that it does not sell or takes a long time to sell. I need to understand all the jargon realtors use in order to know whether my realtor is doing her/his job.

Information needed: What is the average price of houses similar to mine in the area in which I live? this information could be found on-line - you would give an example of some of the information How many houses are available for sale in the area? ( Inventory)

What are the selling points of the area? what are of the ratings of the schools in the area? Are there convenient shops or gyms located in the area? Amenities such as parks or a swimming pool? Ease of reaching a freeway for commuters?

What is the bank evaluation of my house? How many weeks on average does it take for houses in my area to sell?( sales trends) What can I find out about the reputation of the realtors I am considering? Do these realtors have other houses in the area that they are trying to sell?

Has this realtor sold any houses in the area before? What jargon do I need to know with regard to the sale of houses? Escrow/mortgage brokers?

Research Report Questions to ask the realtor: How many houses have you sold in the last month? What do you think are the good selling points of my house? What do you think I could do to make it more appealing?

How long do you think it will take to sell my house? How will you go about marketing my house? Do you know of any other houses for sale in this area?

I need to sell my house for the largest profit possible within a month I need to sell my house for the largest profit possible within a month. I have never sold a house in the US before so I need to understand how the system works here. I started by looking at what houses are for sale in my area. I did this by looking at various realtors advertisements on their web-pages.

The house comparable in size and square footage were generally in the range of $240. In looking at their descriptions I felt that my house had more to offer and therefore felt that an asking price of $250 would not be too much. The realtor’s guide web-site told me that a

priced house in Las Vegas should sell within 3 weeks priced house in Las Vegas should sell within 3 weeks. I think I will be comfortable waiting for my price in a 3 week period before dropping the price. The bank told me that my house was worth ___

I called several realtors after establishing on line that they work in the area. Armed with my list of questions, I interviewed them to see which one I felt most comfortable using to sell my house.