Industry Insights-Listing Price

01 August 2017

Recently I had a potential seller phone to say that an agent from our Brokerage suggested a List Price that was too low and he would not be listing with us. Why would any agent suggest a list price at all?

The role of the agent is to gather market information (solds and current listings) and explain the differences in these properties to the subject property. Interpreting the data is the agent expertise – not setting a list price. So, ask the seller what he would like to list at?

Most sellers pick an agent based on list price and commission price versus value. Don’t eliminate yourself because of list price. If the seller wants a list price that is too high, simply say: I guess you are not in a hurry to sell. The seller will ask why? The answer is that you have to sell their property at least twice. You will bring buyers to their property but you will also show them comparables (just like other agents). The better-valued property has to sell first before their property will sell. So, take a six-month listing and wait.