We recently lost a listing opportunity because another agent told the sellers what they wanted to hear – that they would list their home at the price that the sellers wanted, even though that price was way outside the market to even the most casual observer.
We recently had a coaching session where our business coach reiterated that one of the key characteristics of the most successful agents is a commitment to honesty with our clients, especially about price.
We follow a great real estate blog, The KCM Blog (Keeping Current Matters), that recently had this to say:
“Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank. The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.”
Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT! Demand the truth about price from your real estate agent.