Selling Your Home? Know More About The Sales Practice Called Buying A Listing.
Have you decided to sell your home? But, do you have any good idea of what you think it is worth?
In order to become a sensible home seller, all you need to do is to schedule appointments with at least three local listing agents who have been hanging stuff on your front doorknob for years.
Once the appointment is fixed, each realtor will come prepared with what is called as a "Competitive Market Analysis" on fancy paper. These realtors will then recommend a specific sales price.
Now, say, for instance, two of the three realtors come up with prices that are lower than you expected. Even after they back up their recommendations with recent sales data of similar homes, you remain convinced your house is worth more.
Next, when you interview the third agent’s figures, you realize that they are much more in line with your own anticipated value, or maybe even higher!
It is quite obvious that like everyone else, even you will be excited to pick realtor number three in the above situation!
If you think this agent will listen to your input and work with you and is willing to start out at your price and if you need to drop the price later, you can do that easily, let me tell you that you are highly mistaken!
The fact is that the third agent is someone who is engaged in a questionable sales practice called as "buying a listing." To state it more clearly, he actually "bought" the listing by suggesting you might be able to get a higher sales price than the other agents recommended. His intention from the beginning is to eventually talk you into lowering the price.
Now, the question arises why realtors have to do this. There are two reasons for it.
First, a hard working agent feels pressure from a homeowner who has an inflated perception of his home’s value. Second, there are a few agents who engage in this sales practice routinely.
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