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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127697  
Subject: Re: Selling Date: 2/19/2013 7:03 AM
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I don't know if was just the custom or law in that area but they didn't have a real firm suggested listing price in the presentation...

It's called CYA. If an agent recommends a price and it sells fast, they are at risk of being sued for pricing it too low and costing the seller $$. If it sells slowly, they are at risk of being sued for setting an unreasonable price, causing delay in the sale. You will find most Realtors are now trained to be the source of the source of information, but never provide information, to keep from being sued. It's one reason why I left the industry. Realtors are sued at the drop of a hat, whether there is merit to the suit or not. IMO the industry is all about providing informed opinion based on fact, and that job can no longer be done without significant risk of a lawsuit.

She did have good reasons for thinking that we could get a higher price.

Critically important. The price has to be agreed to not only by the buyer, but by the appraiser. If it is not set on data, you may get the seller, but not the appraiser.

Do not choose an agent you have a personality conflict with, or even if you can not stand the sound of their voice. You will be interacting with them quite a bit, and you don't want to find yourself wanting to avoid them.

I would also ask your first choice agent to take you to see the active competition on which their analysis was based, as well as drive by the solds. Ask them if they went in the solds when they were on the market. A good agent will preview listings even before they have a buyer looking for them, in order to keep a strong understanding of their market. Seeing things on paper rather than in person really doesn't give you the full idea, and spending a day looking at your competition will give you a better feel for the agent.

I would also limit the term of the contract to 90 days. It can be renewed if they are doing a good job, easily exited if they were all hype no action. And look at the way they have listed other properties. Any typos, or bad pictures? That's an agent that doesn't pay attention to detail or doesn't really care.

Signage is way more important that advertising. Make sure they get the listing on as many internet sites as possible though, and ask if they have preferred listings on any of the sites, such as Zillow.com.

IP
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