I could not have made up a better story to reinforce what we always counsel our seller clients about: "Chasing the market down". We met with this seller back in 2007 and the seller did not agree with (or like) our assessment/analysis of the market value of his home. He hired another agent that priced it much higher than we suggested. Needless to say; it did not sell.
To make a long story short, today the home is listed for $145,000 less than they started at over two and a half years ago...if they were priced in line with market value back in 2007 they would be $100,000+ ahead AND have been able to move on with their plans 2 years sooner.
Sellers...don't fall for the "buying your listing" trick that you may encounter when you decide to sell and interview agents. Typically it is the LEAST experienced and LEAST capable agent that gives you the highest estimate of selling price...the agent does not control the value, they interpret the data (honestly or dishonestly).
If you are thinking about selling, even if your sister is an agent...please give us a call. We'll always tell you what you need to hear.
