Why Agents Accept Overpriced Listings
Why agents accept overpriced listings was written by Elizabeth for another web publication, previously. This information is completely current in today’s market as well. Enjoy. — JaCi Wallace
So, the for sale sign goes up down the street, and the first thing neighbors will do is call the listing agent to ask, “How much?” (Unfortunately, that’s often the number that gets stuck in that neighbor’s head when that person decides to sell the following month / year, but that’s another story and another blog.) A neighbor’s first response upon hearing the price is often, “Wow. That’s a lot.” And about half of the time, they are right; it is a lot — sometimes way too much.
It doesn’t take long for others in the neighborhood to wonder why that agent would accept an overpriced listing. They know why the seller will do it. Sellers do it because of ignorance of the market, or the agent misleads them, or sometimes it’s just sheer greed. But agents should know better, right? Some do, some do not and some just don’t care.
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Weintraub & Wallace