Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So, we had an agent give us a market evaluation on our home last spring, she gave us a number I thought was pretty good....enough to consider selling, but not just yet at that time. Fast forward to 2 weeks ago, we are closer to pulling he trigger, and told her we would likely sell for 10% more than the number she placed on the house last spring, and wouldn't you know it.....wah lah !, new market analysis puts it at a 10% increase, wife is like "Really ".....what to believe. My thing is, she will list it below what we would accept, get the listings full asking price, knowing we have a higher number in our mind, and if we turn down the full price offer, get sued for her commission being she brought in a full offer as per contract......sound like a reasonable suspicion ?
So, we had an agent give us a market evaluation on our home last spring, she gave us a number I thought was pretty good....enough to consider selling, but not just yet at that time. Fast forward to 2 weeks ago, we are closer to pulling he trigger, and told her we would likely sell for 10% more than the number she placed on the house last spring, and wouldn't you know it.....wah lah !, new market analysis puts it at a 10% increase, wife is like "Really ".....what to believe. My thing is, she will list it below what we would accept, get the listings full asking price, knowing we have a higher number in our mind, and if we turn down the full price offer, get sued for her commission being she brought in a full offer as per contract......sound like a reasonable suspicion ?
This doesn't make any sense. If you want to sell for a certain price, list it at that price. You are signing a CONTRACT so she cannot list it below what you agree to in the contract.
Also if you are having these thoughts now, interview other agents.
Beer belly, The subject line of your thread says it all. If you have to ask, you need to move to another agent (but I feel a bit badly for the current agent since I suspect she did nothing wrong.)
So, we had an agent give us a market evaluation on our home last spring, she gave us a number I thought was pretty good....enough to consider selling, but not just yet at that time. Fast forward to 2 weeks ago, we are closer to pulling he trigger, and told her we would likely sell for 10% more than the number she placed on the house last spring, and wouldn't you know it.....wah lah !, new market analysis puts it at a 10% increase, wife is like "Really ".....what to believe. My thing is, she will list it below what we would accept, get the listings full asking price, knowing we have a higher number in our mind, and if we turn down the full price offer, get sued for her commission being she brought in a full offer as per contract......sound like a reasonable suspicion ?
No- it's just your suspicious mind at work. Do you have these suspicions about other people?
Your interests and your agent's interest align: get the best offer for your house.
So, we had an agent give us a market evaluation on our home last spring, she gave us a number I thought was pretty good....enough to consider selling, but not just yet at that time. Fast forward to 2 weeks ago, we are closer to pulling he trigger, and told her we would likely sell for 10% more than the number she placed on the house last spring, and wouldn't you know it.....wah lah !, new market analysis puts it at a 10% increase, wife is like "Really ".....what to believe. My thing is, she will list it below what we would accept, get the listings full asking price, knowing we have a higher number in our mind, and if we turn down the full price offer, get sued for her commission being she brought in a full offer as per contract......sound like a reasonable suspicion ?
If I gave you a CMA a year ago, and you wanted another go around and a likely sales price, and you provided me with a target number....
I would probably work at justifying that number for you, and also at providing a good price range, and also at providing a proposed listing price. I would provide you with a worksheet showing your proceeds at 3 or 4 price points in a reasonable range.
There is as much art to pricing as math/science.
The worry about paying a commission on no deal? Generally speaking, it just doesn't happen.
But, if you are suspicious, get a couple more CMAs from other agents.
The worry about paying a commission on no deal? Generally speaking, it just doesn't happen.
The agent is proposing we ask below what they say is the new CMA, and below what we need for the home to get people in the door and get multiple offers (fingers crossed). If they get a full offer at the listing price......(remember, lower than thier CMA, and what we need), can they sue for a commission based on the full price offer, therefore fulfilling the contract, and us not accepting that offer.
The agent is proposing we ask below what they say is the new CMA, and below what we need for the home to get people in the door and get multiple offers (fingers crossed). If they get a full offer at the listing price......(remember, lower than thier CMA, and what we need), can they sue for a commission based on the full price offer, therefore fulfilling the contract, and us not accepting that offer.
1. Your contract with the agent will include language citing "price AND terms."
There are many more terms than just price. If you don't like the price, you can quibble on the terms.
"For that price, we would need to close next week, with up to three months rent-free occupancy after closing, buyer inspection waived, making no repairs for the buyer..."
2. Of course, if you have so little trust and confidence in the agent, that you might feel the need to jump through such hoops, you definitely need to speak with other agents.
3. As said, getting sued for a commission just doesn't happen.
4. And, you could have language added to the contract stating that the listing price is just a solicitation for offers, which it definitely is, and not a figure binding on you to accept. Should be drafted by an attorney.
5. When your property is properly prepared, presented, and marketed, the market won't lie to you as to the value of your property, and it really doesn't care how much you need to receive. That is a firm fact.
The agent is proposing we ask below what they say is the new CMA, and below what we need for the home to get people in the door and get multiple offers (fingers crossed). If they get a full offer at the listing price......(remember, lower than thier CMA, and what we need), can they sue for a commission based on the full price offer, therefore fulfilling the contract, and us not accepting that offer.
She can propose all she likes — you as the seller get to decide the listing price as well as the price and terms you’ll accept.
Please hire a real attorney, not a quasi wanna be to protect your interests, not some commission.
It makes no sense to play with the numbers where it would be easier for them to collect on a below market sale. Also, commissioned sales people are not qualified appraisers so why would anyone use their "opinion"? Real estate is a huge investment, as you know, so don't be cheap about the legal advice. Hopefully, AI will eliminate some of the nonsense going forward but for now, use professionals.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
".....what to believe. My thing is, she will list it below what we would accept, get the listings full asking price, knowing we have a higher number in our mind, and if we turn down the full price offer, get sued for her commission being she brought in a full offer as per contract......sound like a reasonable suspicion ?
