Tip:  Beware of agents that ask you to sign a long contract

In my opinion, there is no need to sign a listing contract for greater than 90-120 days.  However, most agents in the Des Moines area will push for a minimum of 6 months up to 1 year.  This is not a good move for you.  Why???

You may be stuck for a long time with this agent.  What if you realize that your goals no longer coincide with theirs?  You're still locked in.  What if they can't live up to all the promises they made or just disappear after signing the listing agreement?  You may be stuck with someone who you no longer get along with for a long time.  Nobody likes to be in this position.

That's why I typically list for only 90 days.  Some homes, higher end or with distinguishing characteristics I may list for 120 days.  However, you can always "fire" me beforehand if you don't feel like I'm delivering on the promises I've made.

Nobody wants to be locked into a long contract.  If I'm not selling your home within the original time frame and we've addressed any changes in the market, then there is something wrong.  A home priced well and ready to sell should sell within 90-120 days.  Especially in today's market.  Any offers you are receiving 6 months into a listing contract will not make either one of us happy.  By that time, we will/should have reduced the price to reflect the "attitude of the market".

Work with agents who understand this and understand the market.  A sucessful agent doesn't want to be locked into a long term relationship either.  An agent's goal should coincide with your goal – getting your property sold in the shortest amount of time for the highest price. 

I'm confident enough in my ability and the tools that I provide that this will be achieved within 90-120 days.  You should be confident enough in your agent's ability as well within a reasonable time.

Make sure that you and your agent feel the same way.

You should be receiving your property assessment in the mail this week.

What does this mean to you?

Your property assessment is likely increasing as property values increased across the board in Polk County for the first time in six years.  Residential property values grew 4.1% on average and 79% of the county’s residential parcels saw an increase this year. 

Property assessments are used to calculate property taxes but homeowners won’t actually know whether their taxes will go up until all local governments set their tax rates.  So if local governments raise rates too, your tax bill will go up even more.   This will happen later this spring.

Are assessments and appraisals the same thing?

The assessed value of your property is not related to the appraised value of your home.  This is a common misconception, but they are not directly related.  Your assessment is the assessor’s estimate of the fair market value of your home.  Your appraised value is the value determined by an appraiser based on actual sales of similar homes in the area.  Generally both values will track each other.

How to appeal?

You can appeal your assessment if you disagree with the assessor’s estimate using an informal review or a formal review.  The last day to appeal your assessment is May 4.  Be prepared to provide comparable properties in your immediate neighborhood that support your reasoning for a lower value.  The good news is that the Review Board revised about 60% of all appealed assessments last year, though not for the full amount requested.

Go to the Polk Co Assessor for information about your assessment and for tools to you prepare an appeal, if necessary.