Because of the emotional aspects of homeownership, it is natural when selling a home to believe that your house is better than any other comparable property on the market and as a result is worth more than any other comparable property.
Real estate agents are very cognizant of these feelings and some unscrupulous agents will prey upon these emotions to help secure your business.
Some real estate agents will intentionally provide a homeowner with an unrealistic valuation of their home when trying to secure their listing. The theory is that if the agent can secure the initial listing that they can later convince the seller to reduce the listing price to a more realistic one.
It is normally easy to convince sellers to reduce the price after the initial inflated listing price because the seller sees little activity at the unrealistic price. The agent will say something like, "in a good market your home would have sold quickly at this price, but because we are in a challenging market I think you need to reduce the price to help stimulate activity."
The practice described above is known as "buying a listing" and it is unethical. Please "Don't Be Bought". Thank you.
If you want a real estate company you can trust, contact Flat Fee.
