The best agents in the real estate business will not accept over-priced listings for a number of reasons. One of them has to do with ethical business practices.
A seller might think smart agents would never list a property at a ridiculously high price because --- duh --- listings that don't sell are bad for business. Right? Unfortunately fo sellers, the opposite is true. There are agents who focus on taking those overpriced listings because doing so can be very lucrative for them. If an agent "buys" enough listings he or she can successfully leverage those listings....and use unwitting clients....to make quite a lot of money.
Some agents strategically go after overpriced listings because the more listings they have the more they get from other sellers impressed with their significant listing volume. What sellers don't understand is they are actually being used by the listing agent who is advertising their properties simply for self-promotion and to pick up buyers.
This practice is a disservice to everyone---the seller who anguishes over the property languishing on the market while losing its value, the buyer who is misled into thinking the listing agent must be a "Super Agent" due to the number of listings they have, and other agents who are committed to delivering the most accurate and realistic pricing guidance to our valued clients.
Sellers: Beware of the Agent(s) trying to buy your listing!
Kirsten Lindquist
Real Estate Sales/Acquisitions
Sotheby's International Realty
25 East Napa Street
Sonoma, Ca 95476
707.337.1182
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707.337.1182 | Kirsten@KirstenLindquist.com | SonomaIsHome.com
Pacific Union International & Christie's Great Estates
The Best Sonoma Real Estate
109 East Napa Street | Sonoma, CA 95476
CA DRE #01313592
I had attended a KW seminar when I was associated with KW. The speaker asked us to raise our hands when he called out the number of listings you had. There were some that raised their hands at 20,30,50,100 listings. He asked why did they have so many? He made it seem like it was not a good thing to have so many listings as if you were not doing your job getting them sold. I was confused after that. Like what you wrote here, it impresses the sellers when you have a big inventory of homes. I think otherwise. I think you can't give the best customer service when you have too many to tend to.