Pricing Advice

Why Do Some Real Estate Agents Take Overpriced Listings?

 

When a real estate agent lists a property, their knowledge of the local market and pricing trends should guide them to setting the right price for a specific home. Unfortunately this is not always the case. Some agents take overpriced listings knowing it is neither good business practice or in the best interest of the homeowner.

For example, a seller may have unrealistic beliefs in the market value of their home and demand an extraordinarily asking price. If the agent is unscrupulous, they may take the listing to keep it out of the hands of competitors, knowing that the price will almost certainly have to be lowered after it has sat on the market for a while.

Also be aware that most agents are assigned weekly or monthly quotas by their brokerages for acquiring a specific number of listings. These overpriced listings are taken to meet these targets while also providing advertising for the organization and the agents.

If you list your home with a broker who is too quick to accept your pricing, or if your home does not start getting traffic and offers within a couple of months, you may be over-priced. 

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