Disagree with your realtor on listing price?

Disagree with your realtor on listing price?

Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes

Has anyone ever disagreed with your realtor on how much to list a property for? 

I am getting ready to list a property. It's in a great neighborhood. According to the realtor, the problem is that there are lower comps that have sold in this subdivision so she thinks I should list it cheaper than I would like to. Let me explain the comps in the neighborhood. 1 sale was a foreclosure that needed repairs and sold below market value. 3 other sales were houses that are located on the main road before you turn into the subdivision. These houses on the main road were built 10 years after all of the other homes inside the subdivision and were built on a slab foundation and they are smaller houses but their address does say that they are in the same subdivision. Another house sold for close to what I want to list for and the agent says that the house sold 5k over the listing price.

My house has more sq ft than most all of the other homes that have sold, as well as an outbuilding that I am leaving. I'm also willing to include all stainless steal appliances. 

I understand that folks can make an offer higher than the listing price, especially if we get multiple offers on it but I'm more inclined to ask for a higher listing price. The market is super hot right now. I just don't want to be greedy and it not sale and us have to drop the price.

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
9y

Every seller thinks their property should be listed higher than it should. Most of the time an honest agent is correct. Jason suggested interviewing other agents, but there are plenty of agents that will buy your listing by agreeing with your unrealistic high price just so they can get the listing.

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  • Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes
    9y

    I thought I'd give an update on my situation. After gathering all of the information and reading everyone's advice here on BP, I decided to talk with my original realtor and tell her my thoughts regarding the listing price. She did say that she likes to under price listings for more competition and to get multiple offers on them quickly. I understand that, but also brought up the fact that some folks will want to offer lower than listing price and want to negotiate. it.

    She suggested raising the listing price up 5k and said thinks that there will be multiple offers and it could sell for higher than that. That seems fair to me and I am going to let her list it. Again, thanks for all of the great advice.

  • Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    9y

    Good luck! I don't always follow the multiple offers right away train of thought. Is your market that hot that there will be a ton of traffic and offers immediately? Does she plan to hold off on one offer to wait for more?

    I guess she should know her market, but I would be unhappy if you don't go over asking... not that it's fair to her, but she is painting a picture of offers over asking, so she has you expecting it.

  • Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes
    9y

    @Brian Pulaski I knew we were in a hot market but was not sure that about getting a ton of offers immediately. She didn't hold any offers. We had a lot of showings and multiple offers within 48 hours. All initial offers were either listing price or higher and then we asked for highest and best. The offer that I ended up accepting was 3k over the listing price. I had a couple of offers higher than that one but the others asked me to pay closing costs, etc so this one overall netted me the best. 

  • Oakland, CA · Member since 2017 · 133 posts · 58 votes
    9y
    Since the current market is very hot and still in upward momentum, it depends on how fast do you want to sell your house. Your realtor strategy is good only if you want to sell your house quick. However, if you want the top money and don't mind possibly wait 2 to 3 months to sell the house, I would stick with my own higher listing price. If she refuse to list the price you want to, work with another realtor who is willing to list your asking price. You are the owner, you are the boss. You have the right to determine the final listing price. In case your higher listing price really does not sell, then you can consider dropping the price 3 to 4 weeks after the listing.
  • Investor · Oxford, MI · Member since 2016 · 110 posts · 41 votes
    9y
    Deadrick Colbert Dude your asking if you should listen to your realtor... but it sounds like you should say some of the things out loud that you wrote in front of a mirror and ask if you should listen to the guy in the mirror. "Several weeks ago" - "comps dont match" etc.
  • Investor · Oxford, MI · Member since 2016 · 110 posts · 41 votes
    9y
    Doh - seeing now how old this post really is. Definitely good job talking to realtor more. Now why is my phone not showing the posting dates?....
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