Choosing Real Estate Agent based on Price is a Mistake
According to international real estate trainer, David Knox, the number one mistake that vendors make is choosing a real estate agent based on the estimated sale price the agent offers on the property.
Speaking at the Australian Real Estate Conference on the Gold Coast, which was attended by 3,000 agents, Knox pointed out that sometimes the overriding motivation for the agent is to obtain the listing among stiff competition for stock, while for the seller, the primary factor is the best sales price.
Knox said that this creates problems from the beginning, as very often the agent can be induced to exaggerate the price just to obtain the listing.
This means that the seller wants to hear how good a deal they can get, and often believe that their property is worth more than the realistic market value.
When advising agents on negotiating a selling price with vendors, Knox cautioned against agents marketing property with too high a price tag, saying that there is no exact price, and that ultimately any property will sell for its market value.