The market is wildy cluttered with many overpriced listings. It’s time to understand “why”.
1. Many agents have no idea what they’re doing. They’ll take it at any price you want. They don’t know where the market is going, or “why”.
2. A great percent of agents are afraid to insult the seller. If the seller wants $50,000 too much, the agent considers it a victory if they list it for just $40,000 too much.
3. Some agents think you’ll reduce it after it doesn’t sell right away. If you’re super-motivated, watch out for this ploy.
4. That agent might be going for the monthly listing award, and needs 1 more! It’s that simple.
5. They haven’t had a new listing in a while. Ask them where their 4 newest listings are, and when they listed them. Watch them squirm. Sometimes, an agent needs to come home and tell their spouse they just listed a property. especially when they’ve been in a slump.
6. It doesn’t cost them anything if it doesn’t sell. For most agents, the entire cost of advertising belongs to their broker. The broker never sees your house, and they rely upon the agent to get it right.
7. If it doesnt sell, it’s not their name on the sign. Acccountability? Most agents fluff it off, then say, “The seller would not listen to me about the price.”
8. Some make mistakes. We’ve all been there. Some homes are not so easy to price. After 30+ folks have come and gone through your turnstiles, however, it’s time to reduce!