My team and I recently met with a seller who had very unrealistic expectations. This seller is convinced the property is worth much more than it actually is worth.
Now this is of course not the first time this has happened; and it so won't be the first. However here is where our job as Realtors®, becomes so difficult.
Why do sellers continually not want to listen to our advice? We have all the market stats at our finger tips; we give the sellers all our knowledge about the market and how different neighborhoods are selling; yet they want to quote sales that are apples and oranges to their own property.
"Property 'x' sold for 800k; just last Spring!"; the seller tells me. Well I agree with that completely; except - 1) Property 'x' was larger; had more bedrooms and was a complete renovation, 2) Property 'x' was in a different neighborhood and 3) That was almost a year ago!
When sellers ask for advice on pricing and market data; I just wish they would consider that we really do know what we are talking about. Do they also question their Accountants, Doctors and Lawyers like this?
The sad truth is this: At some point this seller will find an agent who will list at the price he wants. That agent will then tell the seller for months that he needs to lower the price. Sounds fair right?
My advice to sellers is this: Interview 3 agents. Pick the one who presents themselves as the most professional, trustworthy and knowledgeable. Then do not make your decision based upon the highest projected sales price nor the lowest commission. As my mother always said - do not buy the cheapest or the most expensive...
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