Brokers need to suggest true market value for home

Q: We have had our house on the market for four months listed with a name-brand broker, but we have had under 20 viewings, a dozen of which were at one open house. Our house is beautifully staged and accurately priced. How can we get our broker to bring more potential buyers through the door? -- A.

A: This is the best selling time of the year, when families plan to move with the school year. You may see more action in the next few weeks.

But when you say your place is accurately priced -- remember that the technical definition of market value boils down to what someone will pay. If you were really listed at market value, by definition someone would have bought your property by now. Your broker may be at fault if he or she is not suggesting you drop your asking price. No agent can drag buyers in to view an overpriced listing.

Protesting the assessment

Q: My house was estimated at a higher than realistic dollar amount. How can I dispute the difference and pay the appropriate amount of taxes? -- G.

A: Local procedures vary, but your tax assessor's office can tell you how and when to protest your assessment figure.

Property tax records are open to anyone's inspection. First, check the figures on file for your property, looking for mistakes in square footage, lot size and the like. Then look up your neighbors' assessments. You want to show that nearby houses like yours have lower assessments.

Also, try to gather figures showing that similar properties in your neighborhood have recently sold for less than your assessment figure.

You may want to hire a local real estate broker to work with you in gathering data and preparing your argument.

Edith Lank will respond personally to any questions sent to her at 240 Hemingway Drive, Rochester, NY 14620 (please include a stamped return envelope), or readers may e-mail her at ehlank@aol.com.