Pricing Dilemma
I'm selling a small farm as FSBO and am genuinely puzzled about pricing the property competitively. For context, it's 13 acres with good infrastructure and a great location for direct marketing in a fast developing area close to a major city. I consulted several local real estate agents who advised me to price between $224K-$260K depending on how quickly I wanted towindows?
I had an appraisal done, which produced a current market value of $144.5K. I believe the appraiser used comparable properties that have none of the benefits of location possessed by my property and seriously undervalued it. It is also possible that he was biased, as he has a competing business but didn't admit it until after the appraisal ( it's a conflict of interest, and I would have requested another appraiser if I'd known earlier).
I had another market value report done by the flat-fee agency I'm using for MLS (which is sadly non-local, they were recommended by the only flat-fee agent in my area who is retiring). This agent found very few comparable properties but came up with a value of $273K.
At this point, Im tired of doing due diligence and just want to list the property. Based on this conflicting advice, what initial asking price would you set if you were looking for a sale in a three-month window?