Home Pricing Scruples

Last summer, I interviewed to list a nice, albeit a bit quirky north metro Atlanta home. The seller insisted that the home was worth 25% more than the market indicated it was. In trying to “sell me” on an unrealistic value, he ignored the market data and effectively told me that if I couldn’t get on board with his price, he’d find an agent who could. I knew he would have no problem fining a willing agent.

The “winning” agent in this case simply acquiesced and listed the home at the seller-dictated price. Predictably, the over-priced home languished on the market for several months and, after multiple price reductions, it sold for less than 75% of its initial list price. This pricing disaster started with an obstinate seller; it was, however, fueled by an opportunistic agent…