How do homes become overpriced?

Sellers often have an unrealistic idea of what their home is worth, often because they paid too much when they bought it!

When most sellers decide to list their homes for sale they call the agent who sold the home to them. It is very unlikely that this agent will tell the sellers they paid too much for the house when they purchased it, so again the house remains overpriced.

New agents need listings to get exposure (yard signs, television shows, newspaper advertisements, etc.). They do what they can to get listings because of their desire to succeed. Because they lack experience, new agents frequently accept listings that are unrealistically overpriced.

Not necessarily. Although some homes for sale by owner may be good values, there are 7 primary reasons home sellers offer their homes "for sale by owner." Each of these reasons cause these properties to be overpriced.

If the agent has listed the home for sale, in most states that agent must work to obtain the seller's asking price for the home - even if it is overpriced.

If the agent reserves the right to act as a "dual agent", "designated agent", "non-agent" or "transaction broker", then that agent may not be able to work completely in your best interests. Also, that agent might not be able to tell you if the home is overpriced.

How can I be sure I do not overpay for my new home?

Call an office of The Buyer's Agent^sm before you start looking! Since we represent you and never the seller, we always work in your best interests.

We do everything we can to provide you with the most complete and current information. We will give you the purchase price for all comparable homes in the area, not just the ones that justify a higher selling price.

People do not lose money when they sell their homes. They lose money when they buy them. To make sure someone is working on your behalf, insist on expert buyer representation from The Buyer's Agent^sm.