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Beware
of agents "Buying the listing"
When you
have agents come over to provide a market analysis of your house,
generally they will all be giving you the same price range.
Sometimes, this price range will be less than you had hoped to
sell your house for.
Then,
there might be one agent that, regardless what the comps are
showing your house should sell for, will agree to listing your
house at the higher price you want. Then as time passes, and the
house has not sold, they will periodically reduce the price and
eventually will be at the price the other agents were proving that
it should sell at. Or worse, it could sell for less because now
time has passed, and you really need to sell the house quicker.
But, by this time your house has been exposed to the market for
some time and is no longer a "new" listing. The longer a
house is on the market, the more suspicious Buyers and Agents are
of why it hasn’t already sold.
This
practice is called "Buying the listing." It is unethical
and a disservice to the client. Some agents in the industry use it
to just get more listings. Be careful you don’t fall into this.
If more than one agent is telling you the same general price range
your house should sell for, whether you like it or not, it’s
better to list at the suggested price range and save yourself from
the anguish and frustration of an agent that bought your listing.
If
you have any questions, Please call
1-866-OC-House
© 2010 OC Home Finder Team.com - All rights reserved.
Written
By Shan Roberts
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