I have just learned of a house near me that will be coming on the market today or tomorrow. I’d have estimated its listing price at $3.750, or, if the owner wanted to stretch, $4.250 million. I’m informed that the brokers invited to pitch the listing (I was not) priced it at $4.5 and around there. But one agent said $6.5 million and of course, got the listing.
So the idiot owner will be sleeping tonight with visions of sugar plums in his head, awaiting Santa Clause on the morrow. Anything is possible, and I could be completely wrong, but my guess is that a year from now that same owner, having found nothing but a lump of coal in his stocking, will be bitter and angry. I think it’s his fault for listening to such nonsense in the first place.
(Some) agents will lie to you to get your listing. If they give you a figure that’s $2 million above what other agents are telling you, ask them for a guarantee – will they buy the house from you at that price if they can’t sell it in, say, six months? When they won’t, dismiss them and use the services of the agent who’s telling you the truth. Don’t be a dummy.