It’s a popular belief that to get lucky in life, you have to be the third realtor. Based on general experience, it is always the third agent who can relate to you as the owner. The first two seemed somewhat inexperienced, made a few mistakes here and there, even priced your house too low (at least that’s how you felt).
When the third agent came, he just seemed like a blessing. Plus, he was able determine the price your home deserves. People come to love the third for this. Or, at least, people come to believe this.
There may be some truth in it, but I appeal that you will have more basis than just the perceived value of your home. Remember, when you sell your house, you have to undergo the process of detachment, so you can see objectively and put yourself in the buyer’s shoes. Your personal bias may affect this perception, and, as a result, you may be adding personal sentiments to the true price of your house.
Be careful that you don’t get ensnared by realtors who promise you a high price for your house. Yes, this is what you want. You may be planning to buy a bigger home and need all the additional money you can rake in. You may be saving for something big, like your child’s college education. Whatever it is, your real estate agent knows about your desire for maximum profit you can put in your pocket.
What’s wrong with big profits? Well, there’s nothing wrong with it if it doesn’t drive away potential buyers or other agents looking for sellers to match their pool of buyers. The problem with setting the price too high is, your house will not be sold for a period of time. Agents who see that your property is overpriced will not waste their time to consider your listing. They will look for something more reasonable. As a result, your property will be staying in the market longer than you expect. Your dreams of high return will be popped by a nagging concern that your house is actually losing its freshness appeal.
Eventually, you are forced to drop your home value lower that what you want. Did your third realtor make a mistake? Probably it was an honest mistake. On the grim side, he might know what was going on and played along with your sentiments. He might know all along that your house won’t sell at his suggested price. By warding off other agents, he got you for himself. You pay him commission, and after days or even months of waiting, you decide to drop the price.
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