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FAQ: Debunking Myths About Listing & Pricing Your Home For Sale: Myth #2

By Nina Hollander, Broker

Real Estate Agent with Coldwell Banker Realty 179530

June 13, 2017 05:15 AM

MYTH #2

You should select the Realtor® who says he/she can get you the highest price for your home.

THE FACT:

NO!... Always select your agent on his/her credentials, expertise and marketing plan.

Market value and price are separate issues.

Overpricing a home to get the listing may be the oldest "scam" in real estate—flatter the seller with an over-blown estimate of value, compliment the home to get the listing, then ask for a price reduction 30 days later!

Realtors® cannot tell you how much your home will sell for. That's a total myth. A Realtor® can provide you with comparable sales, pending sales, and active sales for your neighborhood. But YOU choose the sales price in cosultation with your agent based on the data provide. At the end of the day, the buyer will tell you if the price is right.

Always insist on a written, well-researched comprehensive market analysis to determine a realistic sale price your home will bear in today’s market and price your home accordingly.

FIRST, select your REALTOR based on his/her credentials and marketing plan. THEN decide on price.

NEVER SELECT AN AGENT BASED SOLEY ON THE PRICE HE/SHE RECOMMENDS!

WHAT AFFECTS YOUR HOME'S VALUE?

What you paid for your home does not affect its value for a buyer!
The amount of cash you need to buy your new home does not affect its value for a buyer!
What you want for your home does not affect its value for a buyer!
What a real estate agent says your home is worth does not affect its value for a buyer!
What an appraiser once said your home is worth for a refinancing does not affect its value for a buyer!

The value of your home is determined by what a BUYER is willing to pay in TODAY'S MARKET based on COMPARING your home to others currently on the market for sale.

BUYERS ALWAYS DETERMINE VALUE!

IF YOU HAVE QUESTIONS, WE HAVE THE ANSWERS!

This information about home selling myths is provided by Nina Hollander/Carolinas Realty Partners with RE/MAX Executive. Contact me if you have any questions about buying or selling a home in the Charlotte metro area.

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

"The Right Broker Makes All The Difference."

"Faqs Word Indicates Frequently Asked Questions And Kids" Image Courtesy of Stuart Miles from FreeDigitalPhotos.net.

"Fact Myth Switch Shows Facts Or Mythology" Image Courtesy of Stuart Miles from FreeDigitalPhotos.net.

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Patricia Feager, MBA, CRS, GRI,MRP

DFW FINE PROPERTIES - Flower Mound, TX

Selling Homes Changing Lives

Good Morning Nina,

I'm of the opinion any agent who proclaims that they can you the "highest price for their home" is opening up themselves up to a you know what.... Not only is it a myth, it's very stupid advice!!!

Jun 15, 2017 04:24 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Patricia Feager ~ hi Patricia... my point exactly... no agent, not even the "best" one, whatever that means, can get a seller anything. It's the buyer who is in control.

Jun 15, 2017 04:26 AM

Patricia Feager, MBA, ...

Flower Mound, TX

Patricia Feager, MBA, CRS, GRI,MRP

DFW FINE PROPERTIES - Flower Mound, TX

Selling Homes Changing Lives

It's a pet peeve of mine too, Nina. Plus, it has become so common, when interviewing sellers they typically always ask, if you could get them the highest price. But honestly, I can't blame the sellers, I get the same regular direct mail they get from agents that put it out there all the time!

Jun 15, 2017 04:32 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Patricia Feager ~ hi Patricia... that's when I remind them I can't "get" them anything and there is more to selling a home than the highest price... there may be other terms (like closing period, etc.) that may be more important in the total scheme of things.

Jun 15, 2017 04:39 AM

Sheila Anderson

Referral Group Incorporated - East Brunswick, NJ

The Real Estate Whisperer Who Listens 732-715-1133

Good morning Nina. This is excellent! Not only did you nail it but your style make it readable too.

Jun 15, 2017 05:31 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Sheila Anderson ~ thanks, Sheila... that's always the trick that hardest, isn't it, Sheila? ... making it easy to read.

Jun 15, 2017 05:51 AM

Nathan Gesner

American West Realty and Management - Cody, WY

Broker / Property Manager

I saw this on a reblog and had to comment. Your post is absolutely true and I'm amazed how many people list their homes with certain agents that over-price everything. They just tickle the ears of the seller to get the listing and then wait for them to eventually drop the price to a realistic number so the home can sell. Shameful.

Jun 15, 2017 06:21 AM

Nina Hollander, Broker

Charlotte, NC

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Good morning Nina. Excellent post. Though, too many sellers tend to try to be greedy and end up losing money.

Jun 16, 2017 04:33 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Nathan Gesner ~ good morning, Nathan. One thing I've found is that 9 out 10 sellers deep down know that value of their homes. But the minute an agent, as you say, "tickles their ears" with too high a number to buy the business dollar signs appear in their eyes and they lose perspective.

Jun 16, 2017 04:39 AM

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Gabe Sanders ~ hi Gabe... I had a client who had agreed to list for $250K because those were the comps and the exact same house next door in better condition had sold in under 30 days for $245K. In this case, my seller looked up a Zesmitate, which said his house was worth $255K and I couldn't get him off that number. Six months later we finally sold his house for $240K and he had six months of carrying costs to cover for a vacant home. I could have had it sold for $245K in a NY minute at $250K.

Jun 16, 2017 04:41 AM

Gabe Sanders

Stuart, FL

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Nice job at dispelling thes myths Nina, I think we have all heard them and argued against them, yet they seem to persist.

Jun 16, 2017 08:45 PM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Bob Crane ~ good morning, Bob... I suspect these myths will never go away, which is why we need to keep dispelling them.

Jun 17, 2017 03:35 AM

Bob Crane

Stevens Point, WI

Kat Palmiotti

eXp Commercial, Referral Divison - Kalispell, MT

Helping your Montana dreams take root

Unfortunately, many (most?) sellers pick the agent with the highest price promise.

Jun 24, 2017 04:30 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Kat Palmiotti ~ hi Kat, it is tempting for sellers to do that, no doubt. But I've also found if you come in with facts and a kick-a$$ marketing pland they often don't do so.

Jun 24, 2017 05:19 AM

Sally K. & David L. Hanson

EXP Realty 414-525-0563 - Brookfield, WI

WI Real Estate Agents - Luxury - Divorce

How I wish that "buying a listing" would be looked at as it should...a violation of the ethics code....AND a meaningful penalty applied to those in violation of this "rule" that goes unfollowed.

Jun 24, 2017 05:26 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Sally K. & David L. Hanson ~ hi Sally... I totally agree that this is a fundamental violation of the ethics code in its inherent dishonesty.... but would be soooo hard to prove.

Jun 24, 2017 05:37 AM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

I got one now that is overpriced and have been pushing for a reduction. 10 showings in 9 days with no offers...pricing issue! It is not another Realtor I am having to compete with but rather a Zestimate!

Jun 24, 2017 06:22 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC ~ hi Gary... I feel your pain. I had a nightmare sale with someone who thought Zillow knew more than me a couple of years ago. I was proven right in the end, but six months of misery showing and not selling.

Jun 24, 2017 06:30 AM