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How to PREVENT Listing Your Home for TOO High a Price

Posted by Mike Askins on Saturday, February 6th, 2016 at 3:42pm.

How to Stop an Agent LieThis one is easy. Your home's inherent market value is based upon the market (supply and demand). If the market agrees with your suggested sales price, your home sells, if it does not, your home sits and sits and can wind up selling for less than what the market would have paid, had you priced your house correctly up front.

Selling for market value means your buyer and their Realtor® and the bank's appraiser all AGREE with your asking price relative to other comparable neighborhood "Comps" and individual cost adjusting factors that may apply to your specific home. Sure there may be exceptions and factors that might allow you net you over COMPS, but that depends on scarcity, location, schools, and or getting multiple competing offers on your home shortly after it is listed.  

So how does a home seller guard against real estate agents who may claim they can sell their home for more money than what market COMPS indicate?

Well before you agree to work with an agent who is proposing a price that is clearly above market comps, ask that agent IF you can't sell for that price, will they be willing to waive their seller's agent commission to help compensate you for selling your home at a lower sales price? Asking such a question usually exposes the baloney and you'll know who you can trust and hire who you can't and should avoid.

Mike Askins

Mike Askins, Realtor, Owner ARG, 20 Years of Client Services
Got questions for Realtor Mike? Call me at 214-727-3686 (mobile)

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