“Is it ever in the seller’s best interest to hire their agent based on the price they give them?” Could this result in their worst Real Estate nightmare?
The answer is always NO, it is NEVER in your best interest, and yet, very few agents take the time or develop the skills to help you understand why this is so. In fact, hiring an agent for the highest price quote will likely result in YOUR WORST NIGHTMARE!
I take an unusual amount of time with my sellers to ensure they understand the BIG picture, when it comes to making the decision on hiring the BEST agent for their unique needs. Pricing is important, of course, but teaming up with an agent who is skilled, experienced, reputable and who truly CARES about the enormity of the responsibility you are placing in their capable hands, are THE MOST IMPORTANT part of any successful Real Estate transaction.
One way you can determine who is best equipped to serve you at the highest level possible, is in the questions they ask you. How CURIOUS and SERIOUS are they about this very personal quest you are on?
Do they ask you questions about the MOST IMPORTANT piece for you in the sale of your home?
Do they guide you through a Competitive Market Evaluation and help you INTERPRET and UNDERSTAND the meaning of the data where your home and it’s value are concerned? Do they help you understand the difference between a listing price? and the actual Sale price?
Do they have the confidence to address “The Elephant in the Room?”…which is “are you thinking you might hire the agent who deliberately OVER PRICES your property in order to get the listing”?
I had a case once, where the seller I was counseling had an opinion of value $200,000 higher than I could estimate, and given to her by another Realtor she was vetting. I explained that nowhere in the CMA we were reviewing, was there any sign we could get this much for her property. She did choose the other Realtor as a result. Her outcome? It took her one full year to finally sell, she took 3 price reductions and ultimately sold for $50,000 UNDER the value I had placed on her property! Now that, is a nightmare I was happy to escape! I can only imagine the stress on ALL parties along the way. She had a travelling husband, a toddler, a full time job, paid for another year of utilities, taxes etc and could not move on with family life for another year AND sold for less than she had to, in my informed opinion!
One of my main objectives is to SAVE my sellers from these negative outcomes which result from going to market with an overly aggressive price tag. This is one reason why I have been successful in selling 100% of my listings and have never been replaced by another Realtor to re-list any of my properties.
Over all, our job as real estate professionals is to help buyers and sellers make the best possible decision. While information is important, understanding and interpreting that information as it pertains to our clients’ specific needs is where our true value lies.
If you (or someone you know), are looking for a Realtor who cares MORE about focusing on you, your concerns, goals and the successful purchase or sale of YOUR unique home, than they care about their volume of transactions and awards, please let me know the best way for me to connect, as I would love to offer my highly personal service. Contrary to that old expression, not only IS this business, but it IS personal! And, please, I encourage you to ask me any questions you may have about this post. I value your input and appreciate the time you took to read it.