Please Think Twice

By
Real Estate Agent with Dockside Realty VA 0225142975

Please think twice before you post that your listing is overpriced. I am really confused as to why Realtors post comments on Facebook about their overpriced listings. Not only do they comment, they are the ones telling the world that their listing is priced too high because that is what the sellers insisted on.

Yes, I have heard agents verbally refer to their listings that they feel are listed too high. That is bad enough but to put this on the Internet is beyond my imagination. Do they not understand that they are supposed to be protecting their sellers' best interest?

How in the world can they justify telling people the property is not worth what it is listed for. Experienced agents in that particular market are going to know (or at least they should run comps to find out) the value. It is up to the buyer's agent to know or find out if the listing is priced too high. It is not up to the listing agent to tell people.

Sometimes we do have listings that are priced high. There are a multitude of reasons why we might take such a listing. Whatever our reason what continues to be true is that we are to protect our seller. I understand that some agents do not want others to know that they understand the price is too high and they would like the other agents to know it is not their fault but rather it is in spite of what they counseled the sellers BUT please resist the temptation to reveal your unhappiness with the price.

Either that or do not take the listing and let an agent that will protect the seller represent them. 

 

 

 

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Comments (10)

Jim West
Real Estate Technology Partners - Marysville, OH
Our Passion Is Helping 1st Time Home Sellers

Sounds like they really know how to present themselves to their clients. In my opnion, if you have an agent doing this, then they are in violation of their ethics. One of our Code of Ethics is to be honest with our clients and the consumer! Obviously, this agent needs to be remined of this Code of Ethics Violation!

Apr 10, 2016 07:03 AM
Kate Elim

Hi Jim...Some may not be Realtors but that shouldn't make any difference. They are not doing right by their sellers and it puzzles me that they do not seem to realize that. Or, if they do they don't care. Certainly Realtors should adhere to our COE.

Apr 10, 2016 08:32 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Hi Kate Elim why are they listing the property if they are shouting out that it's not going to sell....that's an ethic violation, to say the least.....

Apr 10, 2016 07:13 AM
Kate Elim

Hi Barbara...It blows my mind because either they know better and just don't care or the do not realize what they are doing wrong. If it is the second case they definitely need training.


Kate

Apr 10, 2016 08:34 AM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

In addition to this, which makes no sense to me at all, I see all sorts of comments on social media that make me drop my jaw.  What are some agents thinking?

Apr 10, 2016 07:20 AM
Kate Elim

Hi Susan...My jaw drops too. I realized I needed to vent a bit about this although I doubt there are many Rainers that would do this. At least I hope not.


Kate

Apr 10, 2016 08:35 AM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

I've never seen this on Social Media but have had agents text me that the property is priced high and to bring an offer which I find not to be in the best interest of the seller.  Often they post on the private agent remarks similar wording as well.  I wonder how the seller would feel if they knew what was going on behind the scenes?  

Apr 10, 2016 07:41 AM
Kate Elim

Hi Teri...Unfortunately I have seen it way too often. It amazes me as well when I see some of the comments and rants on social media. The information some agents share is confidential and yet they do not seem to realize how badly they are doing their job. Sometimes I too wish the owners could see what was happening.


Kate 

Apr 10, 2016 08:41 AM
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
The Michelle Thomas Team

I haven't seen this very often, but occasionally there is an inference in the marketing words that maybe that is the case. Always makes me wonder why an agent would advertise that they don't "believe" in their listing.

Apr 10, 2016 10:22 AM
Kate Elim

Hi Susan...I've seen it in my feed on FB where they just complain about the price. Very inappropriate however it is done. Definitely not ethical.


Kate

Apr 11, 2016 11:05 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Always surprising what people will post on facebook, hopefully they will learn from this.

Apr 10, 2016 11:21 AM
Kate Elim

Hi Bob...I wish it would but somehow I'm not too optimistic. Now maybe if they joined Active Rain they would become better agents.


Kate

Apr 11, 2016 03:25 AM
Allie Angeloni
Long Realty - Oro Valley, AZ

I see alot of 'bad judgment' Posts on Facebook, in many areas - from politics to religion to real estate, ad infinitum.  Totally agree that that agent is not helping nor protecting his client, and is actually doing him harm.  I think some just do 'not think' and if they were in a discussion-type of situation, they would see how wrong that is, and how wrong they are.  Maybe they should not be advertising/marketing that house Kate Elim

Apr 11, 2016 05:18 AM
Kate Elim

Hi Allie...Unfortunately I have heard some agents discuss their frustration over the price the sellers insist upon. Bad business no matter how they express it. I agree. They should consider either doing their job right or letting someone else do it that will.


Kate

Apr 11, 2016 11:10 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I cannot imagine why an agent would ever announce their listing is over-priced! It seems to fly in the face of their fiduciary responsibility to their clients.

Apr 11, 2016 05:36 AM
Kate Elim

Hi Myrl...Without a doubt it is the absolute opposite of how they should perform. How they cannot figure that out is beyond me and that is why I wrote this. It bothers the heck out of me.


Kate

Apr 11, 2016 11:12 AM
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Kate whether it's on social media, at starbucks or in an office meeting agent need to remember who their fiduciary duty belongs too. Duh! Their client!

Apr 11, 2016 06:09 AM
Kate Elim

Hi Anna Banana...Greetings from Lake Anna!


Fiduciary duty is one of the fundamental rules in real estate. If they cannot remember that you wonder what else gets shortchanged.


Kate 

Apr 11, 2016 12:46 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Thank you for an easy to read and informative post Kate Elim  - we are now "following" you!

Apr 14, 2016 11:23 PM