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Reduce The Price

by Gary Kent / Monday, 05 May 2008 / Published in Uncategorized

“Hi Gary. I recently took my home off the market. I’m very unhappy with my old agent. She kept telling me to reduce price, but I didn’t want to lose all that money, so I refused. I feel she was very dishonest with me, don’t you think so? Her name is XXXXX. Do you know her? Is she reputable?”

***ANSWER:
Three comments:

1. It would be unprofessional of me to comment on the reputation of your old agent.

2. If she purposely told you a high price to induce you to list with her, that IS dishonest and unethical. And it’s an all-too-common practice of real estate agents. On the other hand, pricing a home is not a science and values do change over time, so I don’t have enough facts to form an opinion.

3. You can’t lose something you don’t have. Here’s what I mean: If your home isn’t worth what you’re asking, lowering the price isn’t losing you money. The value is the value, and you’re merely lowering the asking price closer to that value. Any loss has already occurred.

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About Gary Kent

Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

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