I’m always fascinated by Meridian Idaho sellers who choose their listing agent based upon the highest asking price.
That fascination has, over many years, included many 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.
We, in real estate, call that practice “buying the listing”.
The concept includes “getting the listing” at any price in order to get the seller under contract, then shaping up the sellers afterward with price reductions when the home doesn’t sell.
The problem with that concept is that your listing agent isn’t the person who will be buying your home!
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.
Believe it or not, some brazen listing agents actually write in automatic pre-scheduled price reductions into their listing agreements.
Before you list your home with the agent who promises an unrealistic 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 I really want to list my most valuable asset with an agent who’s willing to take an overpriced listing?
- Why would I list my home with an agent who isn’t telling me the truth about my home?
- How many showings will I have to endure until my home sells?
When you encounter a listing agent who’s recommending a higher price than other agents, ask for proof of the price they’re recommending.
You should also consider the consequences of an unrealistic asking 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 with dozens of showings and no offers or lowball offers.
Listings are like fruit ~ they don’t get better with time!
In fact, homes that linger on the market rarely sell for top dollar.
If you’re serious about selling, list with an agent who tells you the truth about the value of your home; not an agent who tells you what you want to hear.
Like to know what your home is really worth?
Give me a call at (208)938-5533 or e-mail me.
I will evaluate your home and tell you the truth so you can make informed decisions about selling your home.