The Agent Who Prices Below What You Want to Hear

Here's what I say to you if you're a seller, if you're meeting with a few agents and one of them comes in with the price. Even after you tell them what you think the property is worth and they come in with the price that is meaningfully less than that. And the other agents give you a price as very close to what you told them your property is worth.

If I were a betting man I would bet that the fellow or the agent he or she who came in with the low price is very likely the one with integrity. And the courage to tell you not what you want to hear but what you need to hear. And the unfortunate thing is that in the current climate in a lot of cases the realtor with the courage to say the truth and the integrity to do what is right.

Well that often ends up losing that realtor, that listing because a prudent realtor well isn't going to list the property well above its market value. In fact that's the worst thing that you can do to a property in this particular environment. So I had this happen recently, well I'm not too recently but some time back had a price out of property.

Sellers thought it was worth $1.2 million, I said it was worth like $900,000, $925,000. They carried out the steps I'd recommended to improve the property and ended up listing with an agent at $1.1 million. It's sitting there doing nothing. In the meantime there are properties that have sold below from the time that I initially gave them the $925,000 price.

Some properties are sold for $815,000, $875,000. So if they had listed immediately back then they would have done better than now. But now they've kind of shot themselves in the foot and it's unfortunate. So the lesson for sellers is you know someone gives you a price even after you've told them your high price and they say no no that's not going to fly in this market.

Give them credit for having the courage to tell you the truth. Frankly that's exactly the type of realtor you need in a market like this one. If you need a home evaluation or a condo evaluation send me a message. Was that at the free confidential no judgment discovery call.