How to price an apt/coop

We were planning on listing this coming spring/summer but someone we know friend-of-a-friend situation is interested in our home.

Question - how do we know how to price it? We bought in 2008 and I know we will take a hit but I have no idea what is right.

I looked on redfin and mls and the listings seem to be all over the map.

Can I ask a realtor for professional advice without incurring the entire realtor fees?

Re: How to price an apt/coop

You really need to access recent sold comparable properties... listings are less helpful, because they just tell you the listing price, which may or may not be in line with market value. In reality, a property may sell for much less than asking price.

The best comps for a co-op are properties sold within the same building (or complex). An appraiser will look at sold properties going back 6 months, but within 3 months is ideal.

A real estate agent can definitely help with this type of market analysis, and most will do it as a complimentary service (in hopes of getting future business, if not from you then perhaps from someone you know).

But another thought is, you can probably just ask your co-op what has sold recently in your building and for how much (unless you don't want them to know you are thinking of selling). Sometimes the co-op management has even better info than you find on MLS, since some apartments may be sold privately (as you are thinking of doing).

Let me know if I can help!