Home Staging Articles
and Home Selling Advice
Listing Agents - Warning
By Jeanette Joy Fisher
First, let me explain that we
use real estate agents because they help us find our
next investment house. We give the listing on
our dollhouses to the agent who found the deal for us.
This way, they call us first when a bargain comes up.
My husband and I used to have
our licenses and we ran an office. However, selling
real estate takes too much time away from our family,
so we prefer investing on our own. I want you to be
clear that this article in no way reflects on honest,
hard-working agents.
Beware of Agents Who Buy
Your Listing
If you're selling your home,
there's a certain kind of real estate agent you must
be aware of: the agent willing to buy your listing.
They're not technically being dishonest, but you
should be aware of what's happening in such scenarios.
What does "buying your listing" mean? Well, in simple
terms, it simply means that the agent wants to put a
sign in your yard, bearing their company's name and
phone number.
Why? Because they want to use your property as
advertising to generate phone calls from prospective
buyers.
Here's how it works:
The listing agent makes a presentation, telling you
how much they think your home should sell for.
Generally, the agent has done a significant amount of
research, so they know with reasonable certainty what
your home will sell for. However, if you disagree and
want to list it at a price considerably higher, one of
two things will happen.
An agent who is hoping to get your listing at a price
that will sell, thereby fulfilling their obligation to
you, will try to get you to accept their opinion as to
the selling price. However, an agent just wanting a
sign in your yard will often just accept your selling
price, even though they know that the chances of your
home selling at that price are slim.
In essence, the agent has bought your listing, but
you'll get essentially nothing in return for the next
six months. However, back at the office, the phone
will begin to ring as people driving around your
neighborhood call to inquire about the price, thus
generating more business for the real estate agent.
What happens during those
inquiries? Well, the agent tells the prospective
buyer the price, which generally will prompt a moment
of astonished silence on the phone. After all, buyers
are generally knowledgeable about the value of houses
in their target area, so they'll know full well that
your home is overpriced.
After the silence, the agent will tell the homeowner
that they know your listing is out of line, but they
know of several other possible candidates that the
caller may want to look at that are more within the
range they are considering.
If an agent seems to have accepted your listing price,
even though there was a significant disparity between
what they proposed and what you have asked, be wary.
Your listing won't generate a sale for you, but it
will generate calls--and sales--for other listings in
the area that owners have priced properly.
Copyright © 2006 Jeanette J. Fisher
Home Staging Articles
Home
Staging Home Page