I recently received this article via email from our corporate office and had to find the hard link on the web for your edification. The short story: if you are having problems getting either showings or offers, it is very likely an indicator that your home is overpriced. This article has a list of 10 ways to determine if your property is overpriced.
According to the article, some sellers are suspicious that agents are pushing to reduce prices simply to move inventory. What’s funny about that statement is that sellers will also get upset when the listing expires without a purchase agreement, and the house was listed at their price.
Listen, agents don’t get paid unless the property closes; that also means that the sellers don’t get paid until the property closes. Those look suspiciously like similar interests to me! And on top of that, the higher the sales price, the more the agent will get to put in their pocket. So really, reducing the list price is pulling money out of the agents’ pocket. For all of the sellers complaining about how much agents get paid, simply agree to lower your price and your agent automatically gets paid less!
Win-Win for everyone, right?