This is a question we get more often than most agents....because a part of our practice is devoted to a niche in divorce. We always say...."We aren't always the first agents....we will be the last." Our listings do not expire...they sell. We will not tell Sellers what they WANT to hear but what they HAVE to hear.
Did your Realtor LIE ? In the name of professional courtesy, we never say YES....of course he/she did....they wanted the listing and thought they could talk down the price later when the market rejected the price. There are houses priced to sell...and those priced to sit.
Sometimes we see the "market is coming back" price and the Seller/Agent bet that will prices increasing, demand high and inventory low....Prices can be whatever a Seller/Agent decides...without regard to "the market " making any decisions. It's a dangerous game to play...the longer a house stays on the market at a price the market rejects...the lower the price will be when the house finally does sell. Changing paint colors, replacing the hot water heater that the Buyers had a right to expect would function correctly...won't make a five figure difference in the price. No, the agent who said the price was not the problem...his/her magic marketing plan with no changes to the property will get a higher price....probably not.
Did the Realtor LIE ? They told the Seller what they wanted to hear...no/little repairs...no cosmetic changes needed....and of course they can name their price. The Realtor "misread" the market is how we describe it. In divorce, it is not uncommon when the agent is a friend...neighnbor or relative of the about to be former couple, Or it could be the agent who sold them the house...of course they would never sell them anything that would depresciate.
We have no incentive to make less money or to list a property as a short sale if it can be right side up....we do have a reputation with communities, referral sources, lawyers and judges that has shown them, as one referral partner says, "The Hansons don't just LIST a house, they SELL them." It is because we price homes at a price that the market accepts...not always the most popular with the Seller(s).
Sellers...beware of the HIGHEST price...it may well not be the BEST price.
This has been a professional real estate post brought to you by Sally K. & David L. Hanson, Broker Associates with Keller Williams Realty proudly serving southeastern Wisconsin for all things real estate.