Real Estate Agent Danny Skelly

Every listing agent has gotten the phone call from a potential seller that sounds the same. The call goes something like this:

Hi! How can I help you today?

Listing Agent

Yes I need to sell my home and I need to get $650,000 for it. I know it's only worth $560,000 but another agent told me I could get the $650K. My neighbor said it's worth $700,000. I want to list it for $710,000 and see what happens. Can you just put it on the MLS and I pay you $500?

Joe Seller

"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

New – today
11
619 Virginia Street
Golden, CO 80403
$760,000
For Sale
4
Beds
2
Baths
1,874
square feet,
Location, Location, Location!! The views of table mountain are breath taking. This 1874 Square feet home boast 4 Bedrooms, 2 … (more)
# 3707816
3 Point Brokers LLC
$760,000
For Sale
Residential
0 days on this site
New – today
39
13702 W 20th Place
Golden, CO 80401
$580,000
For Sale
4
Beds
3
Baths
2,482
square feet,
Fantastic opportunity for one lucky buyer! Bargain priced Applewood Ranch that needs updating. Nestled in the heart of Applewood W… (more)
# 5696685
Re/max 100 Inc.
$580,000
For Sale
Residential
0 days on this site
New – Yesterday
40
2430 Hearth Drive, #A-2
Evergreen, CO 80439
$1m
For Sale
3
Beds
3
Baths
4,734
square feet,
Welcome to your golf course retreat in the Rocky Mountains! Opportunity is knocking & you just answered to find an absolutely stun… (more)
# 7321537
Keller Williams Avenues Realty
$1,000,000
For Sale
Residential
1 days on this site
New – Yesterday
40
665 Trailside Drive
Golden, CO 80401
$850,000
For Sale
2
Beds
4
Baths
2,232
square feet,
Gorgeous walk-out luxury townhome located in the prestigious, sought-after community of Genesee, CO, in the Rocky Mountain foot… (more)
# 1704466
Redfin Corporation
$850,000
For Sale
Residential
1 days on this site
The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO © Real estate listings held by brokers other than Keller Williams Foothills Realty Llc are marked with the IDX Logo. This information is being provided for the consumer’s personal, non-commercial use and may not be used for any other purpose.
All information subject to change and should be independently verified. See Disclaimer
Listing Data last updated: 22nd September, 2023 02:00 MST
Equal Housing Opportunity
Service by Buying Buddy® IDX CRM
Copyright © 2003 – 2023 Buying Buddy. All rights reserved.

LIsting Agents

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.

Buyer Agents

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!

Real Estate Dan Skelly Golden CO
Colorado
Real Estate Broker Danny Skelly

Real Estate Golden CO

Real Estate in Golden, Colorado: A Market of Rapid Sales and Mountain Living Golden, CO Real Estate: A Hot Market with Fast-Selling Homes Talk to any real estate agent specializing in Golden, Colorado, and you’ll hear the same story: the market is on fire. Inventory is a challenge even forContinue Reading

Read More »

Organic CBD Hemp Extraction and Cosmetic and Food Production Facility Near Denver Colorado for Sale – Virtual Tour

https://youtu.be/aRLxZ1euXDkWelcome to our virtual tour of an Organic CBD Hemp Extraction and Cosmetic and Food Production Facility Near Denver Colorado for Sale a unique investment opportunity in Evergreen, Colorado. This video will guide you through a state-of-the-art Commercial Food and Hemp Manufacturing Facility, currently functioning as a CBD extraction lab.Continue Reading

Read More »
Cannabis, Hemp, and Marijuana Real Estate in Colorado
Colorado
Real Estate Broker Danny Skelly

Cannabis, Hemp, CBD and Marijuana Real Estate in Colorado

The Blossoming Market of Cannabis, Hemp, CBD and Marijuana Real Estate in Colorado The legalization of cannabis in Colorado has not only revolutionized the state’s economy but has also created a burgeoning market for cannabis, hemp, and marijuana real estate. This unique sector of the real estate market is experiencingContinue Reading

Read More »
Evergreen Colorado Elk
Colorado
Real Estate Broker Danny Skelly

Troutdale and Hiwan Hill – 2 Great Evergreen Neighborhoods

Troutdale in the Pines, Evergreen, Colorado In the heart of Evergreen, Colorado, Troutdale in the Pines is a Denver mountain community that embodies the spirit of mountain living. This neighborhood is renowned for its serene environment, lush pine forests, and stunning mountain views. Natural Beauty The name “Troutdale in theContinue Reading

Read More »
Commercial Food and RD Processing Facility
CBD Manufacturing Facility for Sale in Colorado
Real Estate Broker Danny Skelly

Commercial Food and CBD Manufacturing Facility for Sale in Colorado

Commercial Food and CBD Manufacturing Facility for Sale in Colorado Commercial Food Manufacturing Facility for Sale in Colorado Presenting a unique opportunity to acquire a Commercial Food and CBD Manufacturing Facility, complete with Research and Development capabilities. This prime organic production facility, spanning over 10,000 square feet and including aContinue Reading

Read More »
2019-09-23

Leave a Reply