Why Real Estate Agents Take Overpriced ListingsPosted by Seaport Real Estate Services on
To Secure the Listing and Blow Away the Competition
Sometimes It's a Deliberate Lie.
As the seller interviews each agent, often the estimate of value creeps upward. Maybe the first agent knows there will be two other agents competing for the listing, so the first agent names an astronomical figure. The second agent, upon hearing the first agent's price, beats it. The third agent comes in higher yet.
A seller who chooses an agent based on which estimate is highest can oftentimes become the ultimate loser….but it is human nature to choose the agent who says they can fetch the highest price.
Almost every seller operates in this manner. To the defense of the Agent, sometimes they just “Don’t know what they don’t know”. The traditional…
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