WARNING: Uninformed sellers often choose the listing agent who suggests the highest list price, which is the absolute worst mistake a seller can make.

Overpricing a property can condemn it to months of sitting unsold, even with multiple price reductions. Serious buyers get turned off by new listings with inflated prices and they may not come back when the price inevitably gets reduced. At the end of the process, you could be left with a final price well below what you would have gotten had you priced it realistically earlier.

A seller who chooses an agent based solely on which the agent that told them the highest price and offers the lowest commission is the ultimate loser, yet almost every seller operates in this manner. It’s a shame because so few agents take the time to educate sellers that other factors such as marketing plans and the agent’s negotiation abilities are far more important than just value estimation. The comparable sales speak loudly enough if sellers are honest with themselves and ultimately, the market place establishes value. I’ve always advocated selecting an agent firstly on their ability to sell their services (and local reputation and reviews) and THEN reading their price estimation.

SOME OF OUR NEW STREET RECORDS