I’ve always been fascinated by sellers who choose their listing agent based upon which agent promises the highest sales price.
That fascination has, over many years, included numerous instances where I didn’t get a listing because I told prospective sellers the truth about their home’s value.
One of the oldest tricks in real estate is a listing agent promising the highest price to secure a listing.
That practice is called “buying the listing” in the real estate profession.
If you list with an agent who uses that tactic to get your listing, don’t be surprised when your listing agent asks you to reduce your price.
Before you list your home with an agent who promises the highest price, ask yourself these questions:
- Who will pay that price for my home? (it isn’t your listing agent!)
- What will happen if my home sits on the market unsold?
- What will happen if I have to reduce my asking price?
Do you really want to list your most valuable asset with an agent whose first act is to mislead you in order to get your listing?
When you encounter a listing agent who’s recommending a higher price than other agents, ask for proof of the value they’re recommending.
Consider the consequences of an unrealistic price and how it will affect your marketing time.
The thrill of a high asking price quickly fades after your home has been on the market for an extended period of time.
If you’re serious about selling, list with an agent who knows the market value of your home; not an agent who tells you what you want to hear.