Setting a list price is potentially one of the sharpest thorns in the agent-client relationship. Many sellers believe they know better what their home is worth, and it may be difficult to convince your client to trust your professional opinion. And the internet doesn’t make this process easier.
Sellers often consult online automated valuation models, or AVMs, such as Zillow’s “Zestimate,” to get a scope of what their property is worth. But these AVMs are highly misleading—they can spit out prices based on inaccurate and out-of-date data. What can you do to show sellers you have better data at your fingertips and can give them a more trustworthy idea of their home’s value?
The key is to find accurate, appropriate comps, pair them with strong data about the local market, and then approach the conversation with your client from a place of service. One agent developed a successful method for responding to her client’s stubborn view of AVMs using data from the
Realtors Property Resource®, eventually selling her home for $30,000 more than the client expected. Learn how her plan of action can work for you in the article below.
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Some sellers base their list price on inaccurate online tools. Here’s how to convince them to trust you over the internet. |
—REALTOR® Magazine
