Often times, an owner will interview multiple REALTORS® when deciding to list their property for sale.
When I go to a listing presentation, I bring information about myself, and how I can market the property. I bring a full binder to leave with the seller, of the research and data that I did on the property, to come up with a listing price recommendation.
Yet, many times when I go to meet with a seller who is interviewing multiple REALTORS®, they will comment that I was the only one who brought them any market data.
Did the listing agent just pull a rabbit out of a hat, saying, “Tada! This is your list price.” And like a magician, you have no idea how they did it?
It makes me wonder, “Where are these listing agents coming up with their sales prices?!!” And, how can a seller trust a REALTOR®’s pricing recommendation, with no information to back it up?
Back in school, you were told often that you should “show your work.” It makes me wonder why REALTORS® don’t feel the need to show their work?
This is a perfect example of why listings sit on the market for a while. If you don’t know where the list price came from, how do you expect your potential buyers to see the value?
So, if you are interviewing REALTORS® to sell your home, make sure they show their work and show you how they came up with their listing price recommendation. You should go with the listing agent who does that, because they are showing you how you can sell your property.