How to choose an agent…

Part 5: Be wary of ‘promises’

Getting new listings is everything in real estate. So, some agents are quick to ‘promise’ whatever price they think you want to hear as they know the appeal of an unbelievable price is strong – this can mean an easy listing for the agent.

Let’s say they heard you mention you were hoping to get 1.2M + but they know its likely 1.1m absolutely best case, knowing this and knowing that other agents have probably quoted around that same 1.1M mark, they may say something along the lines of:

“I’ve been in real estate a long time … I’m confident we can get you over 1.2M and I already have a few buyers who I think are well suited.”

The allure of this suggestion is strong, just not realistic if the market doesn’t see price at $1.2M. For these agents, winning the listing is their game. But, then they turn their attention to working their client down to the market.  Once they have you signed up,  you are locked in and committed to spending on marketing so there’s no easy out at this point.

There’s simply no magic bullet that will get a price more than the market is willing to pay. So, try not to buy into the promise of an unbelievably high price. If the price sounds too good to be true, or, stands out well above what other Melville real estate agents have quoted, do yourself a favour and get that high-quoting agent to give you an in-depth analysis of the recent sales and current listings and how they compare to your property – then they will find it hard to hide.

The take-away is: it’s not the promise of a high price that will lead to the best result. The best results will always come from good process, quality marketing and hard work.