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Are OVER PRICED Listings GOOD for anything?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

A Local agent called to yell at me for writing "bad" about over priced listings. The said they will take every listing at any price and who am I to say otherwise. Yesterday I wrote a blog titled WHY do Real Estate Agents always want Sellers to REDUCE their price? This angry agent at least read my blog.

 

The BEST response is to write another Active Rain blog with my answer. That answer is Over Priced Listings are a great way to learn a lesson. For those reading this, you may not have to go through it. You see Over priced homes simply are not selling in most markets. When I list a  Manchester NH area Home, great care, detail and time is spent to assess what the home is worth in today's market. The seller is shown how we arrive at the price, what the best asking price will be and what the most probable sales price will be.

 

Setting a price that is too high on a home listed for sale can scare away buyers, not attract them. Sure there are agent who will list a home at any price, just to get the listing. Our philosophy is to we list home so we can sell them. Having an over priced home benefits no one. Home Sellers want to sell. It takes a lot of effort on a sellers part to get a home ready for each showing. SO why not do it right the first time?

 

Setting the right price on a listing is the first part of listing a home. Having a seller understand how the selling process works is the next. Knowing how to get the home ready for showings, when showings will take place and what comes next is important to sellers and that often gets left out with some. Then... we GOOD listing agents can get to marketing, advertising and showing qualified buyers your home to bring about a sale.

 

The one fact is that remains which is the moral of the story that your choice of who your hire as an agent DOES matter and CAN affect the purchase or sale of your home.  The BOTTOM LINE is that your choice in agent will affect how well or not so well your home sale or purchase will go. 

 

The BEST way to go about any home sale or purchase is to know that the consumer should not choose just any agent, choose the BEST agent for the job. My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. By using a philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process, I can help you find your dream home 

 

Click here for Manchester area Homes For Sale by clicking here. what is for sale by clicking here.

 

 

 

 

 

The hard truth is that Buying or Selling a home can go as good as the agent you hire. 

 

If you are Buying or Selling a home, you need an agent who will work with you, look out for you and guide you through each step of the Buying and Selling process. Buyers and Sellers should know that they have a choice of agents. Use your choice to hire the BEST agent in your area, and know that bigger is not better. 

 

I have put together a simple recipe for both Home Buyers and Sellers. Follow this along with pricing your home right, and the result can be a SOLD SIGN in your front yard.

 

 

THE TOP TIPS TO FIND A "GREAT" REAL ESTATE AGENT

 

 1. LEARN THIS ONE FACT: One should know that All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest Agent or Company. It is important to Hire the BEST Agent. In NH that could be me.   

2. CHOOSE THE RIGHT AGENT: As a Buyer OR Seller in this market you need every advantage you can to get your home sold. It starts with choosing the right agent. a. Ask for a Full time agent whose sole job is to sell homes. b. Ask for a Full service agent who will guide you through each step of the selling process. Discount brokers often equal discount services. c. Ask for a Local agent who knows your neighborhood and is readily available when you need them is a must. Out of town agents can leave you high and dry in your time of need. d. Ask for a well experienced Listing Agent can give you the advantages you need when selling your home. Not all agents are created equal. Choose only the best.  

 3. HOME BUYERS SHOULD START BY:  Getting a FREE PRE-QUALIFICATION with a local and trusted lender. They will look at your credit and financial picture and let you know what type of mortgage you may qualify for and what your interest rate and monthly payment may be.   

4. HOME SELLERS SHOULD START BY: Getting a FREE MARKET ANALYSIS. Learn what your property is worth in today's market along with how ling it may take to sell. If you are ready to sell now, learn what you should ask for it. How much offers may come in at and what the approximate selling price should be. NH Home owners should contact me now.   

 

 

IN SUMMARY the key to having a successful purchase or sale can increase simply choosing a better agent. The secret is that All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. I leave you with now infamous philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process.

 

 

It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.


If you are thinking of buying a Home please contact us. Get a free pre-qualification along with some of the BEST CUSTOMER SERVICE through each step of the Buying Prices.

 

 

WE STRIVE TO PROVIDE THE BEST POSSIBLE SERVICE THROUGHOUT EACH STEP OF THE LISTING AND SELLING PROCESS!!!

 

 

If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale which may be able to help you.Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees.

 

 

 

We are local agents with experience who GET RESULTS!!!

 

We stand by you through every step in selling your home.

 

Another reason that makes New Hampshire a great place to Live, Work and Play.

 

  • About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. With 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area. To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com . We are Full Time Agents ready to serve all of your Real Estate needs through each step of the buying and Selling process. We are proud to be locally owned and operated.

Comments(20)

Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

When I first read the title, the answer that came to mind was "sure they are good, for other houses that are priced right"......

Oct 05, 2015 10:21 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Setting the price right at the beginning saves everyone time. It really helps when the seller is on board at the beginning and listens to the advice of the listing agent. 

Oct 05, 2015 10:23 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Agents that take any listing at any price are not out to learn anything....throw them all on MLS and whatever sticks...or can be persuaded to be reduced...does !  And people wonder why the similarity to used car dealers...hmmmm

Oct 05, 2015 10:25 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Exactly Roger D. Mucci , thanks for the comment

Oct 05, 2015 10:34 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It sure does, Debbie Reynolds most sellers appreciate the time and effort etting them know not only what the homes value is, how you arrived at that price and why it is important to price it right. 

Oct 05, 2015 10:35 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Sally K. & David L. Hanson every day i wonder why a home owner hires this type of agent, especially when there are GOOD listing agents that will do it right the first time.

Oct 05, 2015 10:36 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

This is exactly why I posted a Q & A this morning about this topic. The price we gave this couple was very realistic. So we walked when they suggested a totally unrealistic price they thought it would sell for. We don't just list homes...We want to sell them!

Oct 05, 2015 11:57 PM
Judith Sinnard
SMARTePLANS; Houston, Texas - Houston, TX
The SMARTePLAN Lady

I'm with Roger D. Mucci on this one. The overpriced listing does an EXCELLENT job of selling all the other homes in the area -- as buyer perceive by comparison that they are getting SUCH VALUE for their own purchase.

Oct 06, 2015 01:36 AM
Roger D. Mucci

Nice to see that sweet smile, great to see you "in the Rain" again Judith Sinnard

Oct 06, 2015 01:46 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Scott as you said - top notch listing agents list homes to sell them - not to list them. There is a big difference as you have pointed out so well in this post.

Oct 06, 2015 02:08 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Sounds to me like your truth, the truth about over-priced listings is a threat to the agents who take them. Why else would another agent be upset or mad about what you write?

Oct 06, 2015 02:37 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Very true Scott. The only way some sellers are going to see that they are over priced is to have their home sit.

Oct 06, 2015 03:41 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Scott - Overpriced listings are always very helpful to me in getting my correctly priced competing listings sold. Other than that, they are just a source of grief and disappointment.

Oct 06, 2015 07:46 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

They really help listings that are priced right look good, but they don't make us look professional or worth the effort and money.

Oct 06, 2015 07:58 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Every market has the agent or agents that buy listings.  Throwing out high list prices to secure the listing and then keep hitting their clients with price reductions.  I have been showing sellers recently my perecentage of original list price as part of my listing presentation.  That's important.

Oct 06, 2015 10:07 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Scott- when we sold our last, we were helped by our neighbors down the street whose agent had talked them into overpricing their home. 

Oct 06, 2015 10:22 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Over-priced listings are not only a waste of time, but money and resources from the extended time to market them!  

Oct 06, 2015 11:46 AM
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Quick answer to the question Scott Godzyk 

Yes, they are good for expired listings...lol BUT they are bad for the industry, as a whole. As many do, I too have walked away from a potential listing where th eseller insisted on a price set too high. Too bad other agents will pick it up.

Oct 08, 2015 05:43 AM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Scott Godzyk surely, the best answer is - we learn a lesson!

And another advantage - when a competition puts an overpriced home on market - some other listings sell in comparison to the overpriced listing.

Oct 08, 2015 10:16 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Scott Godzyk,

 Sellers need to be aware overpricing does nothing other than sell other listings! I love it when I see an over-priced listing..its so easy for a consumer to see it when they are looking at other homes. It makes it easier to cross them off our list and move on with serious sellers!

Nov 20, 2015 08:31 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

"A great way to learn a lesson".   That says it best!

Nov 20, 2015 08:38 PM