Home sellers fall for the oldest trick in the book: the appraisal trap. A rep tells you a huge number to get you to sign. Weeks later, they blame the market. This costs you thousands. Seeing this tactic is the first step to protecting your property value.
This practice is common because it works on human greed. Everyone want the highest price. Still, the highest appraisal is rarely the highest sale price. The market determines the price, not the agent. Selecting an agent based solely on the highest quote is a recipe for a failed campaign.
Once you sign with the agent who promised the highest price, the clock starts ticking. Starting with high hopes, but reality sets in quickly. Enquiries doesn't ring. Showings are empty. The agent then starts the process of "conditioning" you to accept a lower price. The process is painful, stressful, and entirely avoidable.
Agent Lies Explained
Insiders call this "buying the listing." Agents knows the home is worth $600k, but tells you $700k to beat the honest agent down the road. Once you sign the contract, they have you locked in for 90 days. Knowing you can't leave, so they just wait you out.
Depending on the fact that you have a deadline to sell. Later, desperation kicks in and you lower the price. The real irony is that you usually end up selling for less than the honest agent quoted you, because the property is now "stale" and shop-worn.
Initial Price Matters On Market Views
Listing cost you set on day one is critical. Buyers have access to data. When seeing a price that is way above comparable sales, they ignore it. Missing the chance to create emotional connection. Honest real estate agents tell you the truth upfront.
Once people scrolls past your ad, you don't just lose a view; you lose a bidder. The algorithm will stop showing your home if no one clicks on it. This digital silence is deadly. Correct pricing keeps the algorithm happy and the buyers clicking.
The Overpricing Cycle Kills Momentum
After a listing stalls, it gets stigmatized. They wonder "what is wrong with it?" Although the house is perfect, the days on market tell a negative story. You end up selling for less than you would have if you priced it correctly first.
Guessing the seller is difficult or the home has hidden structural issues. Submitting lowball offers because they smell blood in the water. You lose lost all negotiation leverage because you have no other interested parties to play them off against.
The Financial Cost of "Testing the Market" Is Real
Many sellers say "we can always come down later." This logic is flawed. While you wait for the price to drop, you are paying holding costs. Mortgage interest, council rates, water rates, and insurance continue to pile up. Holding a home for an extra 3 months can cost thousands in hard cash.
Plus, if the market is falling, "testing the market" is dangerous. You might chase the market down, always staying 10% above where the buyers are. After you catch up, the market value has dropped even further. Pros sell quickly to unlock their equity and move on.
Cost of Momentum Reduces Price
The buzz is money. Buyer momentum drives competition. No tension, there is no leverage. Overquoting kills this momentum. Rely on data driven real estate advice to set a price that draws offers.
Spotting Lies In Advance
Ask for the evidence. If an agent gives you a price, ask "show me the 3 sales that prove this." Should they cannot show you 3 comparable homes that sold for that price recently, they are guessing. Refuse "gut feel" or "I have a buyer." Valuation is based on evidence.
Check their current listings. Are they have many homes "under offer" or many homes sitting for 90+ days? Someone with lots of stale stock is likely an over-quoter. A pro with lots of "sold" stickers knows how to price correctly.
Real Market Advice Beats Hype
We pride ourselves on telling the truth. Even when it is not what you want to hear, honest advice saves you money. We prove you the hard data so you can make an smart choice. Choose an agent who respects you enough to be real.
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