Why do agents overprice homes? tag:((real estate, san diego, sell, home))

Want to know what makes me mad?  Agents who overprice listings repeatedly and use them to advertise themselves.  There is an agent who lists homes in my area of South Carlsbad - notice I said "lists" and not "sells".  She somehow gets these listings and then spends thousands of $$ advertising them in print but they don't sell because they're overpriced. I watch to see how many large ADs she runs in the newspaper and other publications for many months.  I can tell you that is alot of money!!!  In the end she rarely actually closes an escrow and the seller ends up renting the home or listing with another agent.

  When listing your home with an agent it's imperative to ask the agent how many days on market is their average and how many of their listings didn't sell this year. We are currently in a seller's market for homes under $900K.  With so little inventory for buyers to choose from, this home if it was priced right, should have sold fairly quickly.  Instead it didn't, while others in the same neighborhood did!  The average inventory absorption level is now 1-3 months, therefore it should have SOLD.

  Don't be won-over by an agent who shows you all of the pretty advertising he/she does, they most likely want to see themselves in print, not sell your home.  In addition, over 90% of buyers now find their home on the internet, so the smart and savvy agents are placing their marketing dollars in online advertising, NOT print media.

  But, in the end, it always comes down to price. Most agents do a lousy job of pricing your home because they don't really know how to analyze the market both past and present.  Pricing homes to SELL requires skill and is one of the most important marketing tools - period!

Posted via email from Lisa's Real Estate News