“Hi Gary. I own a University City home that I need to sell because I’m moving to L.A. I listed with my sister’s friend who I don’t know at all. It’s been on the market over 3 months and she keeps telling me to reduce the price. I don’t want to go any lower because I need the money. What do you suggest? Help!”
Answer:
I have two very different suggestions, depending on the circumstances.
If you suspect the agent pumped up the price to entice you to list with him/her, ask to cancel the listing. Inflating the price estimate in order to get a listing is the dirtiest and oldest real estate trick in the book. It happens every day. That agent is obviously looking out for herself and not you, so don’t trust her to represent you.
On the other hand, if you insisted on this price or the values in your complex have dropped, don’t shoot the messenger.
Don’t be like the patient who dumps his doctor because he tells him he’s sick. If you expect to sell your home, cooperate and lower the price. The cruel reality is that buyers out there don’t give a darn if you need the money. They’ll only pay what they think it’s worth.
