$%^&*($-A$$&^($. That is what I often think when I see a new home on the market that is significantly over priced. What is that agent smoking? Why didn’t they TELL their clients that the house wasn’t worth that much money? Are they unfamiliar with the neighborhood? Or did they just take the listing at that price to get the listing?
Nothing makes me angrier with some of my fellow agents than this practice. Don’t they know that by over pricing a home at the starting gate, the home will actually sell for less than it would if it was priced right at the get go?
Don’t hire an agent who will tell you what you want to hear. SERIOUSLY. If they agree with everything you say, why do you need them?
If you tell an agent you think your house is worth 1.5 million, and they agree, make sure they have statistical data to compare it to. You could be dead on, but it is highly unlikely. Numbers don’t lie, people do. 99% of home sellers think their house is worth more than it actually is because they have an emotional connection to the home. (Don’t feel bad, most agents over price their own homes when they go to sell them too).
Hire the person who has the guts to tell you the truth, even when you don’t want to hear it (and often times you won’t even listen to it). That person will be the person who looks out for your best interests even when you may not agree with each other. They will stand by you every step of the way and work hard to help you reach your goals. I have said this before and I will say it again- the first impression may be your only impression. Don’t work with someone who will let you throw it away.
One last thing-if an agent is too scared to tell you– their client- the truth, how do you think they will negotiate on your behalf? Will they negotiate or will they be too scared?