An interesting debate took place on Facebook recently: an estate agent posted that he was not willing to deal with a seller who wouldn’t listen to reason and who wouldn’t take his advice on the selling price. The agent argued that as a professional, he had all the knowledge and tools available to price the home correctly and wasn’t prepared to waste his time dealing with a person who thought he knew better.
His statement got a large number of people extremely hot under the collar because, as they quite correctly pointed out, it’s the sellers’ decision as to what price he wants to attach to his property.
While no one is disputing this fact, one has to wonder why some sellers ask for an agent’s advice and then totally disregard the expert opinion given, and insist that the property is listed at an inflated price. Another question that needs to be asked is why agents should spend their valuable time marketing a property that they know, given the loaded price tag, will never sell.
Agents know and understand local markets and quite frankly, shy away from showing potential buyers overpriced homes. Remember that agents in this country have a duty towards both the buyer and the seller and as such, are going to be far more willing to show homes that, in their professional opinions, offer good value for money.
Reams have been written in real estate circles about whether an agent should walk away from a seller who adopts a bullish attitude and who, despite all the evidence to the contrary, insists that his property is worth way more than similar properties in the area.
Given the response to the unhappy agent’s post, it seems that sellers truly take umbrage at those who refuse to market a home. But is this fair? Perhaps sellers should put themselves into an estate agent’s shoes for once and imagine the scenario that undoubtedly occurs when a buyer is taken to a home that is clearly overpriced.
Agents usually take buyers to view an assortment of homes in their price range. Overpriced homes generally stick out like sore thumbs and the first question most buyers ask is, “why are you wasting my time showing me this home?”. Our time is precious and we become annoyed when we think someone is wasting ours.
Another point to remember is that the agent of today is fiercely protective of his reputation. While you may still get the odd agent who hopes to pull the wool over a buyer’s eyes, most are not willing to earn a bad name just for the sake of a sale.
Article courtesy of Private Property Blog