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You're Hired As The Listing Agent | What Is Your Most Important Task?
It’s all about the price, no matter how the “state of the market” is described. In a sellers’ market, pricing is not as challenging. If a home is underpriced, there will be a bidding war, and whatever dollars could have been left on the table will be secured plus more!
A buyers’ market is quite another scenario. Since pricing is not an exact science, because of opinion, a listing agent should always establish the price range and then, with the seller, decide which end of that range to offer the listing.
If the home is outside of the fair market value range, the sooner the “improved price” is established on the open market, the sooner the home will be pending.
Homeowners must be “in-tuned” with the current state of their market. This may require an additional market analysis with every similar home that closes.
For a listing agent to allow a home to linger on the market is poor representation of that homeowner client. The function of a listing agent is to “update the client” and “make adjustments that reflect the most current updates in price.”
After two weeks of ... more
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