High Price Risks You Should Know

Many sellers fall for the oldest trick in the book: the appraisal trap. The agent tells you a huge number to convince you to sign. After that, they blame the market. It costs you thousands. Spotting this tactic is the first step to protecting your property value.

This tactic is common because it works on human greed. People want the highest price. However, the highest appraisal is rarely the highest sale price. The public determines the price, not the agent. Hiring an agent based solely on the highest quote is a recipe for a failed campaign.

If you sign with the agent who promised the highest price, the clock starts ticking. Beginning with high hopes, but reality sets in quickly. The phone doesn't ring. Inspections are empty. The rep then starts the process of "conditioning" you to accept a lower price. It is painful, stressful, and entirely avoidable.

The Overquote Tactic Revealed

Real estate agents call this "buying the listing." The agent 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. Realizing you can't leave, so they just wait you out.

They rely on the fact that you have a deadline to sell. In time, 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.

Starting Price Risks On Market Views

The price you set on day one is critical. The market has access to data. If they see a price that is way above comparable sales, they skip it. You lose the chance to create emotional connection. Honest real estate agents tell you the truth upfront.

When a buyer 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. Internet silence is deadly. Correct pricing keeps the algorithm happy and the buyers clicking.

The Stalling Cycle Hurts Results

If a listing stalls, it gets stigmatized. People ask "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. They make 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.

Cost of Waiting Is Real

People say "we can always come down later." That thinking is flawed. While you wait for the price to drop, you are paying holding costs. Rates, council rates, water rates, and insurance continue to pile up. Owning a home for an extra 3 months can cost thousands in hard cash.

Furthermore, if the market is falling, "testing the market" is dangerous. You might chase the market down, always staying 10% above where the buyers are. When you catch up, the market value has dropped even further. Smart sellers sell quickly to unlock their equity and move on.

Wasting Time Is Expensive

Speed is money. Buyer momentum drives competition. With no rivalry, there is no leverage. Overquoting kills this momentum. Use data driven real estate advice to set a price that attracts buyers.

Spotting Lies To Protect Yourself

Look for the evidence. If an agent gives you a price, ask "show me the 3 sales that prove this." If they cannot show you 3 comparable homes that sold for that price recently, they are guessing. Reject "gut feel" or "I have a buyer." Pricing is based on evidence.

Check their current listings. Do they have many homes "under offer" or many homes sitting for 90+ days? A rep with lots of stale stock is likely an over-quoter. Someone with lots of "sold" stickers knows how to price correctly.

Truth in Selling Beats Hype

Our team focuses ourselves on telling the truth. Even when it is not what you want to hear, honest advice saves you money. We show you the hard data so you can make an informed decision. Hire an agent who respects you enough to be real.