Quoting a low price to buyers and letting the emotion drive the price up.
In reality, this just creates a group of buyers with low budgets who think they’re going to get a bargain. Many buyers are frustrated from falling in LOVE with homes and then discovering the owners would never consider selling around the price expectations provided by the real estate agent.
Often times the buyers think the sellers are being greedy. In many cases the sellers are not aware of the low prices the agents are quoting your buyers.
Home sellers often expect higher prices than buyers are offering but the REAL REASON is usually because the agents gave the sellers inflated price expectations at the quote or valuation stage of the selling process.
This is a common reason why home sellers reject early fair and reasonable (often highest) offers and can easily undersell their homes by being on the market too long and getting the “lemon” tag.
At Ozway we advise home sellers based on market facts. Ultimately the advertised price is instructed by the seller.