Listing price question.

[Shawn Jetton]

So I had my realtor over the flip house last night. He had a few suggestions (add crown molding to the dinning and living rooms since I have enough in the garage from an auction). Over all he loved the house and work I did on it. 

The question I have is the price he wants to list for seems a bit high to me. Now he's a friend and also the realtor who got me the house as well as a flipper himself so he's not trying to "buy the listing". He knows I'm going to use him. The comps in the area are really hard to compare as houses range from 290k to 10k (I got mine for $28,600.00 to give you an idea). A house similar in size just around the corner sold in less than 2 months listing for $169,900.00 (sold price hasn't posted yet). It has some advantages and disadvantages over my house. My house is pretty much 100% new but this house has a full unfinished basement that could make it twice the size. I have 3 bed/2 bath the other house is 3 bed/1.5 bath. 

My realtor suggest we list for $159,900.00 but I feel like this might be a about 10k to high. I don't want to scare off buyers by starting super high. I know they say you can always lower the price but not raise it but I also feel if you start too high you really lose out on some buys even after you lower the price. Either way I make a good pay day I just don't want the house to sit too long. I have money tied up in it I would like to invest in my next flip before summer hits.

So what do you guys/gals think? Listen to the realtor as it's his job to know or go with my gut?

[Frank Wong]

Hi Shawn,

It's very hard to comment on this bc we don't have local knowledge of the area the comps and the condition of your house.  Go with your realtor or if you feel its too high split the difference $154,900. Bam you're done.  Get it listed and sold.