Naturally, you want to get as much money as possible for your property!
But real estate agents know that… and some will take advantage of that by simply telling you that they’ll be able to sell your house for more than other agents — and they’ll give you a listing price that’s too high.
At first, that might seem like a good thing.
You’ll get more money, right?
Well, not exactly.
As The Balance writes, “A seller who chooses an agent based on which estimate is highest without considering other factors is the ultimate loser. Yet almost every seller operates in this manner. It’s a shame because so few agents take the time to educate sellers that other factors such as marketing plans and the agent’s negotiation abilities are far more important than the estimate of value.”
Overpricing a home on the MLS will almost always mean it takes longer (sometimes 6 months to a year) for the home to sell… and your agent will probably recommend reducing the price after a few months anyway if it hasn’t sold.
So it’s really just a lose, lose.
Ideally, choose an agent based on their negotiation abilities, their level of honesty, and their marketing savvy.
And if you’re wondering about the true value of your home, then checking out your Zestimate is a good first step — run that number by your agent and see what they have to say!
Oh — and if you want to sell your house fast for cash, give us a call at 865-686-5494. We can close in as little as two weeks, buy as-is, and we’ll pay all closing costs!