Over Priced Listings

By
Real Estate Agent with RE/MAX Connection

Seller's when you are interviewing Realtors to list your home , the one who gives you the highest value isn't doing you any favors. Recently I have turned down several listings due to the seller wanting an unrealistic price for their houses based on nothing other than what they need to get out of the sale, or a value they have come up with with no facts. When you interview a Realtor to list your house make sure they are using current sold comps of similar properties in the same area, don't just look at what others are asking (usually higher than what has sold). The agent that gives you the highest list price, especially higher than recent sales is honestly just getting a lead generator. The house will most likely expire but will have generated the listing agent with some nice leads, and if you do find a buyer willing to pay an inflated price good luck with the appraisal.

Comments (2)

Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

John, you are so correct!  I am getting tired of so many agents overpricing listings to buy the business. 

Jul 22, 2010 03:28 PM
Robert T. Boyer
FHA Loan, VA Loan, Jumbo Loan,FHA Loans,VA Loans,Jumbo Loans - La Jolla, CA
San Diego Real Estate & Mortgage Loans, Ph.D. | VA Home Loan

Our clients put in an offer today at 10% below asking... but it was equal to the highest priced comp which is another 13% above the next highest comp.  Now the listing agent needs to truly explain the situation to the sellers.  I think it would have been a lot easier if the job had been done right, at the beginning.

Robert Boyer
WJB Home Loan
Investment Property Search
San Diego Real Estate Homes for Sale

Jul 22, 2010 04:53 PM