Any agent can tell you that your home will sell for any price. The good agents are the ones who can back up their suggestions with data.
Choosing an agent to help sell your home is a big step. It’s not one that you should take lightly because you only really get one good crack at the market.
Most buyers make the mistake of either choosing the agent who says they are going to list their home for the highest price or the agent who offers them the lowest rate. We’re going to be focusing on the former this time.
Agents aren’t psychic, so there is no way they can tell you exactly what your home will sell for. They simply don’t know. What they can do is look at the history of the neighborhood and the recent comparable sales to make an educated guess. Ultimately, however, the decision of what price to list your home at lies with you.
A lot of times, the agent who tells you the highest price is also the agent who likes to bend the truth. Instead of looking out for your best interests by giving you an accurate valuation, they are just telling you what you want to hear by saying that your home will sell for some ridiculous sum. They just want you to sign a listing agreement.
What you really need to do is ask the agent to back up their proposed list price with numbers. If they can’t, they’re likely bending the truth. It doesn’t have to be an exact value, but they should be able to give you a price range where you can expect to sell.
At the end of the day, an overpriced home is going to sit on the market until you have to lower the price. By that time, buyers will start wondering if something is wrong with it. Although what you may be hearing from the agent sounds good, it’s not a wise move on your part to believe them without proof.
If you have any questions for me, don’t hesitate to give me a call or send me an email. Stay tuned for part two of this series, where you’ll learn why you shouldn’t hire the agent with a discounted rate either. I look forward to hearing from you soon.