I have recently been contacted by several owners inquiring about
listing their properties. It seems they had received a “farming” postcard in
the mail from another agent describing a unit in their complex he had recently
listed. This listing was at an unusually high price, and the folks inquiring were
hoping to sell theirs at a comparably high price. Now, I never enjoy being the
bearer of bad tidings, but I had to explain to them that the price being touted
was not realistic in the current market. Even if someone agreed to pay that
price, it would likely not appraise. The reason it would not appraise is
because there were no recent comparable sales (“comps”) to support that price
level. I had to explain that this list price was merely “dressing up the MLS”
and not realistic pricing.
It is a violation of the Realtor Code of Ethics © for a Realtor to
inflate a seller’s expectations of a likely sales price in order to procure
that listing, so I must assume that this seller simply chose to ignore his
agent’s pricing advice and the data the agent must surely have provided to
assist in setting the price.
It should be the seller who sets the price, and their agent is
there to provide them with as much information and data as possible to ensure
it is set so that the property sells as promptly as possible, and at its
highest and best value. If you are considering selling your Plantation
property, be sure to confer with an agent who is familiar with your property,
who has a successful track record of selling similar properties, and who
provides you with sufficient recent sales data and other information to help
you make an informed decision. When considering an agent to sell your property,
ask them:
- how many like it they have sold in the past year?
- how many are currently for sale?
- how many units are there in the complex?
- how many have sold in the past year, total?
- how does your property compare with others that have
sold?
- where is their office located relative to your
property?
- how often are they at the Plantation?
Mandoki Realty is the only onsite brokerage at Plantation, and I
have personally owned and lived here, so I know Plantation. Just this year, I
have personally brokered more sales at Plantation than the next-best performing
real estate company! If you are considering the sale of your unit, you need
look no further than Mandoki Realty for the best results!
