Coldwell Banker Sea Coast Advantage Blog

Want to Start Off With a High Sales Price?

Posted: January 25, 2011 by Coldwell Banker Sea Coast Advantage

So, you’ve done your research, you’ve updated your home and you’re ready to sell. You’re already shopping for Wilmington, NC new homes. While you think you have a fairly good idea of what your home is worth, as a sensible home-seller you schedule appointments with three local listing agents.

Amazingly, two of the Realtors come up with prices that are lower than you anticipated. Although they back up their recommendations with recent sales data of similar homes, you are still convinced your house is worth more. However, when you interview the third agent's figures, they are much more in line with your own anticipated value, or maybe even higher. So, which realtor do you choose?

Choosing a Realtor

While number three may seem like the obvious choice, there is more to consider. You may think that it is more beneficial to choose an agent that is willing to start out at your price and drop the price later if necessary. After all, everyone else does it!

The truth is that you may have just met an agent engaging in a questionable sales practice called "buying a listing." He "bought" the listing by suggesting you might be able to get a higher sales price than the other agents recommended. Most likely, he is quite doubtful that your home will actually sell at that price. The intention from the beginning is to eventually talk you into lowering the price.

What’s Going On Behind the Scenes

Contrary to popular belief, a listing agent does not usually attempt to sell your home to a homebuyer. Listing agents actually market your home to the hordes of other local agents who work with homebuyers, dramatically increasing your personal sales force. During the first couple of weeks your home should be a flurry of activity with buyer's agents coming to preview your home; if the price is right…

If you and your agent have overpriced, fewer agents will preview your home. After all, they are realtors, and it is their job to know local market conditions and home values.

Dropping Your Price...Too Late

By the time you finally decide to drop the price, your house is "old news." You will never be able to recapture the flurry of initial activity you could have had with a realistic price. All of this is just keeping you from moving into your dream Jacksonville, NC real estate.

By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.

Remember, Realtors Talk to Each Other

Remember those two conscientious agents who got aced out of the listing? If your listing agent routinely engages in "buying" listings, he has probably aced out scores of other agents in the same way. Realtors talk to each other. If they don't like your listing agent, not as many of them will be showing your home.

In short, you may have ended up with an agent who was good at selling you, but not good at selling your house.

Moral of the story? Choose a realistic price and a realtor you can trust. Contact Sea Coast Realty today to find a qualified agent near you.

Loading Comments



Real Estate Links Our Domains