Every listing agent has gotten the phone call from a potential seller that sounds the same. The call goes something like this:
"I need to get $650,000 for it"
That statement from the seller to the listing agent is only 4 sentences but there is about five thousand things wrong with it. Let’s start with the first sentence. The seller “needs” to get a certain amount for their home. The fact a person needs to get an amount for their home should never have a bearing on the list price. The real estate market does not care what a seller needs to get for their home. The market should never care about something like that. The market is the only thing that determines the price of a home. The fact a seller needs an amount does not matter to the market. Now with the market calming more it has never been less of a factor in pricing a home. There was about a month in the last 10 years a seller may have been able to pull that but those times are past.
"I know it's only worth $560,000 but another agent told me I can get..."
There are two things to know about this statement. The first and most obvious is that there are some real estate agents that just have no idea what they are doing or how to properly price a listing. The other less obvious to the public is many agents do what is called “buying a listing“. There are many reasons and many ways a listing agent does this. One of the reasons an agent would buy a listing is the location of the home. If the home is on a busy street or neighborhood they are trying to farm, this is a great way for the neighbors to see their name. It is used as a free billboard placement. One thing to keep in mind the real estate agent knows the home will never sell for the price they take the listing. That is an important distinction to make. The other reason they do this is because the seller mentioned there are other agents they are interviewing and they know if they say “I will sell your home for ” they know they will win the listing. This goes back to the fact that no one but the market sets the price. The listing agent does not sell the home. They do not determine market value. That is up to the market. After the Realtor “wins” the listing they wait a couple weeks then convinces the seller to lower the price. It is unethical and terrible to do but it is done every day.
"My neighbor said..."
Your neighbor has no idea what they are talking about…..But you already know that.
"Can you put it on the MLS and I will give your $500?"
If you find a real estate agent that will do this, run, run far away. Listing only entries are not allowed and any real estate agent willing to lose their license for $500 has some deep issues. It is not allowed for an agent to give you minimum representation. There are certain things we must do. Not to mention $500 wouldn’t even cover their E&O deductible if they were to be sued. There is a lot more to selling a home than putting a couple paragraphs in the MLS.
There are plenty of other things wrong with this conversation but we touched on the main ones. Don’t just hire an agent because they gave you the highest amount your home is worth. They don’t determine the market value. Don’t forget if you do get someone to give you that much the seller still needs to go through appraisal. Make sure you find the best real estate agent even if they don’t tell you exactly what you want to hear. It is their job to tell you the truth not what it takes to scam your business.
Start of list of properties
0 days on this site
0 days on this site
0 days on this site
0 days on this site
All information subject to change and should be independently verified. See Disclaimer
Copyright © 2003 – 2023 Buying Buddy. All rights reserved.
We have the best listing agents. We can list any home in Colorado. We specialize in luxury homes and horse properties but will work at any price point. We treat all clients the same. You get luxury service for any priced home. We sell your home fast and for the right price.
Our team of buyer agents for helping you find a home know the area. They are very experienced and know how to negotiate the best price for you based on the real estate market conditions. Sign up on our website for real time property alerts.
We Are High Tech
We are a high tech brokerage. We have multiple high traffic websites and market your home throughout the internet with digital marketing and on our websites. 90% of buyers find their home online. Our technology help our buyers and sellers call us to find out how!
You Should Use a Mountain Real Estate Agent – In the Foothills
Realtors Evergreen Colorado: Your Guide to Real Estate in Evergreen Evergreen Colorado Real Estate Agents Evergreen, Colorado, is home to some of the most experienced and dedicated real estate agents. These professionals are well-versed in the local market and are committed to helping clients find their dream homes in thisContinue Reading
My Home Isn’t Selling – Is It My Listing Agent’s Fault?
Table of Contents First thing first… The most important thing in picking a real estate agent for listing your home is to find an agent that you can work with. A seller gets to know their agent very well when selling their home. Your agent should be in constant contactContinue Reading
Real Estate Agent Dan Skelly – Florida and Colorado
Welcome to the professional real estate services of Danny Skelly, a seasoned Realtor with a strong presence in Southwest Florida and Colorado. This website serves as a comprehensive resource for all your real estate needs in these regions. Whether you’re looking for a home in Marco Island, Florida, or consideringContinue Reading
Real Estate Agent Dan Skelly Evergreen CO
Dan Skelly Real Estate Agents Evergreen Colorado Real Estate Evergreen Colorado – evergreen colorado real estate – best real estate agents evergreen colorado market update March 2023. We are licensed real estate agents in Colorado and Florida.. find out how to analyze the market for commercial real estate in ColoradoContinue Reading
Buying Land in the Denver Foothills
Buying Land in the Denver Mountains: A Comprehensive Guide The allure of the Denver Mountains is undeniable. With their majestic peaks, lush forests, and serene landscapes, they offer a unique blend of natural beauty and tranquility. But beyond their aesthetic appeal, these mountains also present a compelling investment opportunity. BuyingContinue Reading
Real Estate Agents Lakewood Colorado
Real Estate Agents in Lakewood, CO: Find Your Dream Home with Orson Hill Realty Are you searching for a reliable real estate agent in Lakewood, Colorado? Look no further than Orson Hill Realty. Our team of dedicated professionals is committed to helping clients find their perfect homes. Led by DannyContinue Reading