
Dear Home Seller, Is Your Agent Taking You For a Ride?
When choosing an agent to list your home, what factors are the most important to you?
Did you know that most people, when asked this question, will say that the listing price is one of the most important issues? Those people could be making a huge mistake. Here is the reason why-
Realtors® know that money is a huge issue for the seller. Some agents will try to "buy" a listing by telling the seller that they can get a price that is higher than the market is supporting. Their scam is to get a seller to list their home with them for an inflated listing price and then to ask them for a price reduction at a later date.
This tactic can be dangerous and costly to the seller for several reasons. The most obvious reason is that if the seller begins to make plans based on the inflated listing price, then they may make obligations that they will be unable to fulfill. This is very frustrating for sellers.
The most costly problem that this creates is the fact that the home is overpriced and sits on the declining market for longer than necessary. If a home is worth $400,000 and spends an extra month or two listed in a market that is declining 3% per month, the seller is losing about $12,000 per month!
Don't be fooled by the agent who comes to the listing appointment with a CMA that shows your home's value to be $20,000 or $30,000 higher than what the market suggests. We always shoot straight with our clients even when the truth means a lower price than they expect. We don't believe in misleading a seller just to get the listing and then asking for reductions later.
If you list with an honest agent at a reasonable price then the only ride that you should be expecting is a ride to the escrow office to sign the closing papers.
Photo credits - Mark Hall all rights reserved - When you choose us to handle your Vancouver WA real estate needs, you choose a team of realtors® who care about you and your family. Buying or selling a home is always more enjoyable when you work with professionals who will listen to your needs and who will work together with you to achieve your objective. We are very familiar with all types a real estate in Clark County and we specialize in Vancouver, Ridgefield and Battle Ground. We are also very experienced with new home and custom home construction having assisted several local builders in selling new neighborhoods in the Vancouver Washington area. Additionally, we have helped numerous families build their own Vancouver WA dream homes. We are dedicated to helping you make intelligent, informed decisions and to providing you with exceptional service. Go to www.ernw.org for more information. See our video here. This post written by Mark Hall all rights reserved. Dear Home Seller, Is Your Agent Taking You For a Ride? Vancouver WA Real Estate
Mark Hall
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Mark, you are certainly right. A properly priced home will sell in any market, an over priced home will cost the sellers time, money and frustration.
The only person making money from an overpriced listing is the agent listing it, as they are going to pick up buyers for other houses.