“Im going to sell my house this summer. I know how important it is to price your home right. So I plan to get 3 agents price opinions and then hire the agent in the middle? Is this a good idea?
***ANSWER:
Its terrible. And dangerous.
2 reasons
Reason #1: Whether its a high price or a low price or just the price you were hoping for, NEVER EVER choose an agent based on price. In fact, this is so critical, please repeat after me:
I will never choose a real estate agent based on the price they suggest.
Did you say it? No? Well Im not going to continue until you and all the other readers repeat it.
Okay, thank you. Ill proceed
Choosing an agent based on price is foolish because too many agents purposely inflate the price just to lure you into hiring them. Then later they start telling you to slash the price.
Its dishonest. Its unethical. Its even illegal. And it happens every day.
(Of course, agents are human and sometimes their estimates are off, high or low, with no ill intent.)
Reason #2: Because of the first reason, you have NO assurances that the middle price is accurate.
I spoke with a gentleman about selling his home. I gave him a realistic price based on sales of several very similar homes in the neighborhood. Not all homes are easy to price, but his was a piece of cake.
Unfortunately, another agent suggested a price 10% over market value. As bad as that was, a third agent suggested a price 15% over market value!
So the nice owner did a logical but very bad, bad thing. They listed with the middle agent.
So their home is just going to sit and sit. Unless and until the agent convinces them to slash the price. And because it will have sat on the market so long, theyll likely get a lower price than they should have.
So, in case I wasnt clear regarding you idea of choosing the agent with the middle price: dont do it. Choose the best agent and choose the price that the market data supports.
Does Your San Diego Real Estate Agent Care?
