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If you’re like many
people, you pick Realtor number three. This is an agent who seems willing
to listen to your input and work with you. This is an agent that cares about
putting the most money in your pocket. This is an agent that is willing
to start out at your price and if you need to drop the price later, you
can do that easily, right? After all, everyone else does it! The truth is that you
may have just met an agent engaging in a questionable sales practice called
"buying a listing." He "bought" the listing by suggesting
you might be able to get a higher sales price than the other agents recommended.
Most likely, he is quite doubtful that your home will actually sell at that
price. The intention from the beginning is to eventually talk you into lowering
the price.
Why do agents "buy"
listings? There are basically two reasons. A well-meaning and hard working
agent can feel pressure from a homeowner who has an inflated perception
of his home’s value. On the other hand, there are some agents who engage
in this sales practice routinely.
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