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SELLERS: Highest list price doesn’t mean right price or right agent.

By
Real Estate Agent with Alain Pinel BRE 01367196

SELLERS: The highest proposed list price doesn’t mean you have the right price or the right agent in Alameda CA


Yes, sellers want the best possible price -- but the highest list price proposed by an agent competing against other agents for the listing doesn’t guarantee that you’ll get that price.  

Highest list price isn’t always the best price --- and as a matter of fact, it could be the reason why a property may languish on the market until the seller sees the light and reduces the price. In the meantime, valuable marketing time and potential buyers are lost. house not for sale

Google the reasons why a property doesn’t sell, and the number one reason is always the price.

Over price, and you might as well hang up a sign that says this "House is NOT for sale."

Most REALTORs won’t and don’t want to “buy” a listing.  

“Buying a listing”is when the agent sets a price higher than what the property is worth, and tells the seller what the seller wants to hear. This typically happens during competitive situations when some agents will agree to list at the higher price than they’re comfortable with just to get the listing --- and then hope that the seller will agree to price reductions down the line.

Do you want the property sold, or do you want it to be merely listed for sale?

But if sellers insist on listing with the agent who proposed the highest list price, the sellers should at least be prepared for the following:

  • How will seller and agent overcome objections to the price and perceived value
  • What marketing strategies will the agent use to generate attention and interest from the most qualified buyers
  • Does the agent know the local market
  • How does the list price compare with other similar homes that are active, sold and pending in his immediate area
  • What is the seller willing to do to enhance and improve his property to increase value -- upgrades? staging? bonus? pay for buyer’s closing costs?
  • How long is seller willing to wait for an offer before he adjusts his price
  • What will the seller do if the house doesn't sell?


Sellers with unrealistic expectations should brace themselves. Even in a seller’s market, price will determine the level of the buyer’s interest.

Comments (8)

David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Or maybe the sign could say "home not actually for sale unless you really wwwant to over pay and not buy anything priced right" lol

Jun 02, 2012 05:50 AM
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

"SPOT ON" post, Pacita!!! And the last 2 sentences couldn't be better... We can offer all of the most wonderful marketing attempts in the world but price is the absolute key to success. Terrific post.

Jun 02, 2012 06:00 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

then even if you find someone foolish enough to over pay for it; they have to be able to afford to over pay - not easy these days.

Jun 02, 2012 07:38 AM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

David --- we see this all the time, and regardless of what the CMA says, sellers will zero in only on the list price.

Brenda --- Price, price, price. Do you think that if we say it often enough, sellers wil get it?

Gene -- and that's another component that sellers don't understand or they don't care. If it doesn't appraise at the offer price, will the seller agree to reduce the list price? Or will they hang tough and wait for the next victim, er....buyer?

Jun 02, 2012 08:14 AM
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Great post and right to the point thank you for sharing your thoughts

Jun 02, 2012 09:50 AM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Laura -- it's a special seller who sees beyond the hype.

Jun 02, 2012 02:29 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I'm seeing a lot of hopeful sellers in our market that think the imcreased buyer activity will equate to huge leaps in their value.  Nope.  Buyers just wait for the reasonably priced listings.  The overpriced ones sell those.

Jun 03, 2012 02:22 AM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Chris Ann -- that's the problem. Sellers have heard of multiple offers, so they think we're back at the height of the market and want the price they could have gotten in 2006-2007. Buyers aren't stupid -- they're buying because prices are low. They'll stay away from grossly-overpriced homes.

Jun 03, 2012 02:36 AM