How much is your Ruidoso or Alto home / land worth?

AI/websites CANNOT do a proper CMA 👎 

This is why Zillow’s janky “Zestimate” is so inaccurate. Look up your house’s “guestimate” and see how insulted you feel (like the guy above). It’s a shame how many people think it’s legit and remotely accurate 🤦‍♂️ . It may OVERvalue also… The point is, computers don’t know the neighbors. They don’t know the neighborhoods. All they see is numbers. They don’t see the broken boat and junkyard across the street from the house. They don’t know that you put 200K into the dilapidated Junker they queried Google’s street view pics from (they don’t do that even). While I have used Chat GPT on occasion, and AI has it’s place, AI has no business being involved in the valuation process for the highest valued assets we will ever own. Real Estate. It can keep it’s sticky little AI hands off… Don’t take my word for it. Look at this one lawsuit of many filed against Zillow. More on Zillow illegal actions here .

We talked about robots 🤖 , but let’s talk about people…

The “Loser” 

There are people that want to tell you your home is only worth _____(less than it is). Listening to these people can cost you thousands of dollars… I have seen it happen time and time again! In ALL of these cases, not only do the sellers leave big money on the table (for the buyer to gobble up), they perpetuate an inaccurate picture of the market and cost their neighbors big time (by selling too low and giving us a low comp)! Thanks a lot…

Some houses have tons of deferred maintenance and need SERIOUS updates. These are the deals that are still to be had out there. There are still deals to be had for people who are not afraid of the work. But when construction replacement costs are around $350 per sq ft (before you consider land or utilities), people need to be realistic and expect to pay market price for something clean and solid, especially if someone just dropped 100k and blood sweat and tears into a project to “make it shine”.

The “Winner”

The opposite of the “loser”, the winner, might actually have a great track record to speak of. They may have a great volume of sales to brag about! They may say something like, “I sold $50 million of Real Estate last year” or, “I’m number 1 in sales” or even something like, “I sold 4 houses this week, blah blah blah…” They whisper sweet nothings into your ear about some high price that, in reality, is not attainable for your house. The “winner” can potentially cost you a substantial amount of market time. I’ve seen houses actually sit there for a full year. Price reduction after price reduction and still the listing expires, only to be listed with a new broker, who immediately chops down the price substantially! Just price it right to begin with and you will have a much more rewarding and successful experience. Setting realistic ‘market time’ expectations and pricing accordingly, is the key. ie. If you have a year and “don’t need to sell”, then price it higher. If you need to move it quick, and don’t have a year to wait, price it low! It’s really common sense, but if you don’t consider other crucial market and subject property specific issues, and you are unrealistic or deviate from the formula too far, then you won’t have fun… You will be 5 years old again, waiting by the fireplace for Santa to squeeze his fat ass down your chimney, but then you’ll wake up to reality after you’ve been dreaming all year…

The Guru

The guru has been observing. He has been watching the winners and the losers and their blunders…Not only has the guru learned from the mistakes of others, but he has tried and tested these theories himself. He knows that his methods of true balance, are the most accurate by far. The guru has much experience. More important than ‘experience’, they have ‘market specific’ experience. The guru is not a new retiree who is suddenly a market expert in the area because they just got thier real estate license and moved here. Some may confuse ones ability to underprice listings to, “sell fast” with actual skill… It takes no skill to post an overly discounted property. If you price too low, people will buy too fast. If you get an offer the same day, chances are you underpriced your house. That is why it’s ultimately the sellers decision on list price. A guru provides 3 price ranges based on actual market data, after all caveats are considered and adjustments have been made. Brett provides a low, med, and high value. You choose the sweet spot based on all the information and data that Brett provides.

I’ll never send you emails or stuff/junk you don’t want. 

I am also not forcing you to input your email address before you can ask me a question or get more info about a listing… What I am saying is, ASK ME like a real person and call or text my cell phone 575-937-3688. My name is Brett Nichols and I have been a Realtor in the Ruidoso / Alto area for over 15 years.

I look forward to working with you! 🙏