For this entry in my series “Do You Want An Agent That…”, I want to talk about agents that only tell their clients what they want to hear, and not what they need to hear. This tactic is a disservice to the clients and makes it harder for those of us that are honest and want to serve our clients as well as possible.
I run across this tactic when I am competing for a listing and the seller is interviewing several agents. Instead of actually researching the property, identifying apples-to-apples comparison properties, and coming up with a true value for the current market… some agents will simply let the seller decide on the list price. Of course most sellers do not have the insights into the current market that a good agent should have. Couple that with the fact that most sellers think their house is worth more than it is actually worth and you can see how this could be a disservice to the seller.
Some agents let the seller set the list price in order to land the listing knowing the house will sit for a while without selling because it is overpriced and then come back to the sellers and suggest a price reduction. The sellers have lost valuable time and now are facing what I call “chasing the market down”. Meaning they will most likely have to lower the price a couple of times to get it where it should have been to start with. Plus, when buyers and other agents see the price being lowered, they assume the seller is getting desperate and potential buyers are more likely to come in with a low offer.
Sure the agent landed the listing, but at what cost to the seller? This happens all the time and the losers (of time and money) in this scenario are always the sellers. I have never wanted a listing so bad to allow the seller to set the list price. I have even walked away from sellers that insist on a list price higher than the market will allow.
This is not to say that I am not aggressive with my pricing. I always push the upper boundaries on price for my sellers but there are factors that have to be taken into consideration. To best serve my clients I use those factors and my knowledge of the market and experience with the process to get the sellers the best price and in a timely manner.
Bottom line… if you want an agent to tell you what you want to hear, you probably need an agent other than me. I am passionate about providing a high level of customer service to my clients. If you want an agent that will do his best to serve you the best, and tell you what you need to hear, give me a call and lets get the ball rolling. You can reach me any time at 919-889-1766 or at kevin@kevinburrushomes.com.
Kevin Burrus Homes 