Listing Broker/Agent "Benefits" Of An Over-Priced Listing!
I do not feel that over priced listings are a benefit to those of us that try to price a house where the comparable show us is the correct range. Over priced listings just sit on the market and make the market look sluggish
I asked a few questions in the 'Rain the other day, as I often do.
This time the topic was "What are the benefits to the Listing Agent/Broker of an "overpriced" listing?"
Here, for your dining pleasure, are a collection of the responses that really stood out!
Some agents want the sign call. They can show something else.
…it'll hopefully get them calls they can use to generate leads for other properties, and it gets their signs out in town.
Some might think that it will generate leads.
They get the privilege to pay for ads on a house that may never sell at that price. They get the privilege to be yelled at by the seller whose house has not sold.
If it's high but not absurd you'll get some interest and at least get inquiries
that may lead to other sales.
The calls may be generated because of such listings that may help some agents who are on floor time.
The agents can still keep the relationships with these sellers - and may get referrals.
Depends on the property it could bring in extra calls
hopefully it makes the phone ring - at least I think that is the idea - but in fact it gives the company/agent a bad name
Listing agent wanting a sign in the yard & phone calls.
The benefit is getting calls and being able to convert the lead to a client
there are sign/ad calls that may turn into buyer leads regardless if the primary home sells.
They want the sign call to bait and switch the buyer.
They want signs in the neighborhood which help get more listings.
They want to look like a top producer in their office.
Sign calls, buyer up calls.
The phone rings.
Open Houses to meet new clients.
some in my office who say it's better to have an overpriced listing than none at all.
an Agent in town takes them to get customers for other listings.
The broker can brag about how many listings they have that will not sell.
Exposure and the opportunity for potential leads to something else.
To have there name on a sign and hopefully everyone blames the brokerage not the listing agent!
So - while there apparently is no benefit whatsoever to the Seller of an overpriced listing - see this post:
Seller "Benefits" Of An Over-Priced Listing!
there are tangible benefits to the Listing Broker/Agent of an overpriced listing:
Sign(s) in the yards(s)
Open House opportunities
Buyer Calls
Leads
How does this benefit the Seller??!!
Thank you:
Fred Griffin
Candice A. Donofrio
Michael Jacobs
Scott Godzyk
Lise Howe
Debbie Reynolds
Mike & Eve Alexander
Susan Laxson
Lyn Sims
and others (AR only allows so many "tags" in a post)
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About the Authors - Updated 2015
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Listed, Sold and Closed more than a hundred Short Sales with the highest success rate in the Phoenix Metro Area!
Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!
Tony and Suzanne Marriott
Associate Brokers, REALTORSKeller Williams Arizona Realty
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