#4 - Your home isn't worth as much as you think. The author suggests agents won't tell you your home is worth less than you think.
It is TRUE that some seller's think their home is their castle and let emotion cloud their pricing decision. Some home owners want to price their home based on how much they have spent on improvements. A good real estate agent will do research. and based on that research and their experience and knowledge of the LOCAL market, will provide pricing guidance.
SELLER beware...if you talk to several real estate agents and one says he/she can sell your home for MORE than the others...and of course you'd like to get more...it may be that agent is desperate for business and just telling you what you want to hear.
When you list with that agent, the one who lets you overprice your house, your home will languish on the market because:
(1) Agents representing buyers will protect their buyer's interest by guiding them toward homes that are priced right.
(2) Buyer's who could afford your home are using a search engine, setting a price range, and if your home is overpriced, it may not show up in their search results.
(3) Buyer's who can afford to pay the price you are asking won't look at your home because it doesn't compare well to homes that truly should be in that price range.
If you go down this path, overprice your home, not only will it take longer to sell but ironically, you'll probably make less. When you are ready to sell you will have a listing appointment with a real estate agent. Look at the research they present regarding comparable properties, ask questions, set aside sentiment, and trust your REALTOR.
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