The reasons that some real estate agents will accept a listing that is priced to high are varied and mostly very devious. If the home you are selling with a real estate agent is going to be listed at a price higher than what it should be, be wary of this. Although the reputation is one of the most important things to a real estate agents, there are a few who will risk their reputation to get a few added benefits.
What kinds of advantages come with pricing a house so high that the likelihood of it selling is slim to none?
Some agents are only interested in getting listings. It is possible that the real estate agent even tells lies to the owner regarding the fair market value just to get the listing. They will do anything to get you to sign with them, even quoting higher than other agents that may have already provided high quotes. The price may continue to go up if another agent tries to do the same thing. This may not be the best idea to sign with an agent who gives you the highest sale price if you plan on selling your home in the near future. One of the considerations is the value that is placed on your home by the agent, which is something you need to have for any potential agents who want to represent your own personal interests. There are more important things to consider, like their plans to market your house and their ability to negotiate pricing and such. Actually, the pricing should be based on the comparison report for your area.
Be forewarned, if you are the seller and you want to sell your home for more than what the other properties are selling for in the area that are in about the same listing range, understand that there are agents will take your home to list it just for the sole purpose of listing another home, regardless of whether the home ends up selling. Why would a real estate agent take a listing that is priced so high it has no way of selling?
One of the reasons why a real estate agent would ever want to take on a home that is priced over what it should be is just to gain more market exposure. It will basically be free advertising when their sign is placed in your front yard displaying their name and contact numbers. The signs that are used nowadays by agents are highly sophisticated and provide pictures of the agent, including their website. There is not one agent who does not want their name listed everywhere possible,whether it is in front of a nice home or somewhere in front of a busy street. They know the home is priced too high to sell but when someone calls to ask about the property they have a potential buyer for another home they represent that is listed at a fair price.
Besides the obvious, agents can get a buyer to trust them if they say, "I have a home you will love at a much better price." Even though there is an open house being held for the home that is overpriced, this gives the agent the opportunity to bring in other potential buyers to show other, more fairly priced homes, to. Another thing that the agents will do that is sneaky is by listing the home with the price, but not with the address. This way the person who called to inquire about the home is ready to pay the higher amount and the agent can show them a house that meets the value. Some agents will agree to an overpriced listing because they figure that sooner or later, the seller will get a little frustrated with not selling the home and will end up dropping the price to something that better suits the value of the home. The bottom line is to be very careful about the asking price at the time you sign your listing agreement. A high price tag is not necessarily the best price tag.
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Orignal From: Selling Real Estate And Why Agents Take Overpriced Listings
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