There are several tenets of real estate that we frequently pass along to sellers including the old standby "Location, Location, Location," and "the market sets the price."
While these are true I think we should add one more to tell sellers: "Even overpriced listings serve a purpose in the real estate market!"
When you place your house or condo on the market, you want to get clients for your real estate agent, right?
Of course the main only client you want to attract for your real estate agent is a buyer for your house, right?
I see a lot of overpriced residential listings in the Brevard County real estate market - still. Perhaps yours is one of those overpriced proeprties in Viera Florida that has been on the market for a long time.
If you are not priced competitively for the market you will accomplish two things:
- Not get a buyer for your house
- Get calls (clients) for your real estate agent so he can sell others homes.
You do not want to have a billboard (sign) in your front yard while your own house gets ignored by the buyers!
Real estate listings are the life blood of the real estate business - even the overpriced listings serve a purpose in the business!
Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.
Whether your interest lies in a 55+ community such as Heritage Isle, a golf course community such as Baytree National Golf Links or water front, give me a call!
Read my blog Florida Homes for Sale, Moving to Brevard County, Florida, and Brevard County Florida Real Estate Information.
I love other agents over priced listings. They tend to make my well priced listings stand out.
Keep them priced high, then I get the buyer and can look like the hero to my client.
Herb - Sometimes I think they don't care as they just want leads. Thanks.
Diane - You got it. Makes you wonder about their motivation. Sellers just don't understand this.
Gary
An overpriced listing say sell my neighbors home .
Good luck and success.
Lou Ludwig
Gary, it's sort of like discount brokers who don't really want to sell their own listings because they make no money, but want the buyers that listing will attract.
Gary One thing is certain - it makes other listings more attractive
Hi Gary, Great post. Overpriced listings do serve the purposes you outlined. They help sell similiar homes priced at market value. And, they help the listing agent get other buyers to work with for other properties. For an agent it can be a drain on their time, their resources and their energy.
Over priced listings, as long as they are not ours, make us look great!
Ty