The oldest trick in the book when trying to win a listing is to use someone’s greed against them. It is much easier to tell an owner they will get a number much greater than market value and get their hopes up. It’s in this mind set when you as the owner are most vulnerable. You have this overwhelming feeling of hope and confidence because of how you’ve been sold a number instead of strategy. This is also one of the main reasons why there is such a stigma that revolves around the real estate industry.
There are agents out there that train themselves in understanding the market, how to get the best price out of buyers, how to keep owners informed about their property and a lot more great attributes that will benefit you. Then there are the agents who train more in the world of deception, how to sell big appraisals with confidence, how to deceive a marketplace through underquoting and how to condition a client to the right price so I can sell the property. There are plenty of these agents around and they’re really hard to pick, they’re that good.
I think the most important thing to remember when you’re interviewing agents is to see how much fact is behind what they’re saying. It’s not easy as an owner because you always want more for your property and it’s definitely better then your neighbours property which just sold for fifty thousand dollars less then what you were expecting. That’s fine, you have the right to want more, it’s your biggest asset and you’re not going to give it away. But you have to look at this as business just for a second. By really looking at the facts and putting as much emotion aside as possible, then you will set yourself up to win. Always remain conservative and don’t price your property out of the market.
Here a couple of things to try to identify these sly beings. Can the agent substantiate with comparable sales, the price they are saying you’re going to get? If all the comparables in the area are fifty or one hundred thousand dollars less then what the agent is suggesting, well, I think they be lying to you. Is the agent selling you a price or recommending a strategy to capture the best price? The only thing that matters to you at the point of selling or leasing is how is this agent going to set your property aside from your competing neighbours and attract the largest crowds. The bigger the crowd the bigger the price. Another hint would be, is the agent trying to get you to sign an authority greater than thirty or sixty days? This will be the biggest tell, if an agent has no confidence they can actually get the price, they will try to lock you in for as long as they could to make sure they get the sale when you give up on the world and sell for whatever offer comes your way. Unless you have a unique property, an agent does not need more than thirty to sixty days to sell a property that is priced and marketed well.
The decisions you make on your biggest asset matter, they really do change the course of your life. Take your time, look at the facts and make sure you choose the agent who will get you the best price, whether selling or renting, and will look after your needs immediately and into the future. The other thing to always bear in mind, your agent isn’t your enemy. If you still feel inclined not to give all information to the agent of choice, then you haven’t found the right agent and you should keep looking.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.