While the decision to sell your property creates the need to interview listing agents, good agents are interviewing you just as much as you are them. If you aren't being interviewed, you might want to reconsider the qualifications of the agent.

A typical listing presentation lineup...

So you decided to sell your house and start the process of meeting with prospective agents. You know how much you paid for your property and you decide how much more you want regarding your property's appreciation. The first agent you meet seems very firm in his belief of your property's value being considerably below your calculations. You meet the second agent and are pleased to hear he is optimistic in selling your house at your price, while keeping a plan B price reduction on the table. For good measure you get a 3rd opinion and are disappointed to hear a perspective similar to agent 1.

Seeing how your goal is to walk away with the most money, you choose good ol' agent number 2 since he understands your home's "real" value and has special techniques of selling it at a higher price. Not so different from a car salesman who gives you your price and makes back the difference with other costs and financing, this practice is known in real estate as "buying the listing." While is has nothing to do with your intention to hire a listing agent, it has everything to with the agent's intention to sell you on higher potential price to get the gain the job. Obviously a deceptive practice, you should be weary when an agent claims considerably higher value than other agents and other similar properties.

Same information, now more qualifying for the other agents...

Beyond the deception, there's another important reason to consider the advice from the agents who may seemingly undervalue your home. With little incentive for a competing agent to project a low value for a potential listing, it should strongly be considered (especially if multiple agents agree) that their low projection may be more accurate.

In addition to this information as being one of the most important details that will allow the fastest sale at the highest price, this information can also be used as a filter in qualifying an agent. Typically a successful and efficient agent walks away from listings that they cannot list at its market value.

A listing's most exposure for sale happens in the first weeks of its listing and continues to drop as interest in dated listings are not as high. Understandably, losing the first weeks (possibly months) of greatest potential due to a sales price well over its true value, creates an unnecessary challenge for an agent whose goal is the same as yours....to sell your property for the most money!

Trust over price...

This leads to the most significant issue a successful agent would have with accepting an overpriced listing. The client must understand the goal of their agent is the same as their goal. If you cannot see eye to eye with your agent and have trust in his expertise and competence in accomplishing your interests, then it is better that you find another agent. A good agent would not want a listing based on price because it undermines a client relationship based on trust.

Vic Melecio
Broker Associate, Realtor

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