Brighter Selling

Why agents tell porky pies to pump up prices

by Justin Watt, CEO 17 May 2018

If something sounds too good to be true it probably is. So why is it that agents everywhere seem hell bent on inflating your selling price?

It’s pretty simple, they want your listing.

“They’re worried about missing the listing so they’re pumping up the sale price, which creates work for everybody post-sale,” Watt Realty CEO Justin Watt explains in the above video.

“All it does is burn time and cause heartache, so I wish it was different. But (the industry) has been that way for 20 years so I’m assuming agents will continue to tell porky pies to get a listing and that’s why people are sceptical of the whole real estate process.”

So short of forcing your agent to take a lie detector test how can sellers know if their agent is telling them what they want to hear, not what they need to know?

It comes down to doing your due diligence when you choose an agent.

Always interview several agents before choosing who will sell your property. Trust is key.

Ask your agent to show you properties they have sold recently which are similar to yours. If they can point to one good sales result, that could be luck. But if they can point to 10 good sales results for properties like yours then you can feel more confident with the price expectations they set for your property.

And ask yourself if you think your agent will be prepared to stick it out and work hard for you if things don’t go to plan.

Check out our tips for how to mystery shop real estate agents so you can make an informed choice.

Mystery shop us now! Talk to us about selling.