We talk alot in this business about overpriced listing. Yes, we all have them.
But, let's talk a minute about underpriced listings.
Now, what would you think about an agent who sells every listing in less than a week??
Maybe just darn lucky, great marketing techniques, super sales person, etc.
Or, would you think that maybe they are so out of touch they underprice all their listings.
We all love a quick sale.....what a cost savings to the agent. But what a disservice if we have left thousands of the sellers money on the table.
Overpricing and underpricing, both are costly mistakes.
This was a lunch discussion today. Would you want a reputation in the market of overpricing or underpricing???
It's funny, but agents would love to show your listings if they were "good deals". We can all sell a good deal, right? Eventually, as word got out, no seller would list with you if they thought you were giving their money away!
On the other hand, if the listing was overpriced, no agent would show it. Most likely it will take longer to sell, and probably will sell for much less than listing price if it sells at all.
So...what's an agent to do?
Well, first review your sold statistics. How close to list price did they sell??? How close to appraised value??? Hopefully, there is some margin between the two.
Watch your numbers!! They tell it all.
Linda Lipscomb - RE/MAX Unlimited - 870 W. Church ST - Lexington, TN.
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