When a listing agent lists a home, it’s is all about the price. Of course, I’m not telling you something you didn’t already know!! The greatest challenge listing agents have is to convince a seller who is overflowing with emotions the home he cherishes is worth “x” amount of dollars not what he thinks it is.
We know that buyers dictate what the market is; buyers are the controlling factor; buyers buy on comparison; and buyers set the pace. If your property is not making the cut, you’re not listed at the right price. Someone else is more competitively priced.
Where does this leave a listing agent? We call ourselves marketing agents, but when a home is priced to sell, MLS is really the only marketing source that’s needed. MLS is focused on listing agents cooperating with each other. A home that’s properly priced in MLS is shown immediately and sold within hours.
We always know within the first ten days whether a property is overpriced, depending on the activity and how quickly that flow of buyers ends. If the flow continues, the home will sell soon; if the flow stops, the price should be adjusted quickly. Now, all you have to do is convince the seller of this information.
Listing agents have many tasks to perform. The first, and most important, is pricing the property to sell. If that task can be accomplished, the job of the listing agent will be to "keep order" within the home during the mad rush of potential buyers who want to see it and own it. Price the home properly, and you can call yourself a “proctor” because you'll never have the opportunity to market it!! Your only job description will be to “keep order” within the home during the massive amount of showings. I loved playing “proctor.”