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Palm Springs Real Estate: The Listing Price Too Good To Be True!

60535 Juniper 700x235 010 Palm Springs Real Estate

Crazy things are taking place in our busy Palm Springs real estate market lately, and it can be hard to keep up with for someone not up to the challenge. Fortunately, I am. It helps me to face it by completing a lot of transactions each year, as I’m able to keep a close eye on the pulse of our market, the inventory and, just as importantly, I develop a good understanding of how other Palm Springs real estate agents operate.

Telling It Like It Is

When I meet with a Palm Springs area home seller about selling their La Quinta home, I believe in telling it like it is. When it comes time to value the property, I keep to that policy, always backing it up with data to support my professional opinion.

I recently met with the owner of a home in La Quinta who had also met with a couple of other local agents they were considering for listing their home. One agent told the owners that their home was worth about ten percent more than I did. I disagreed and worked with the owner in proving out why I did.

La Quinta Home For Sale, At The Correct Price

I wound up winning the listing for this home seller and at the price I had suggested. Fast forward thirty days later, and guess what? The same agent who had just told the owners that their property was worth a lot more presented an offer to me from one of his buyer clients. The proposed purchase price, however, is now well below our asking price.

Mr. Agent then did an about face and declared that this same property is now overpriced! Go figure! My home seller and I had a few chuckles, and then we promptly rejected the offer. A few days later a better offer arrived from another buyer and this offer was quickly accepted.

Selling Your Palm Springs Area Home? Keep This In Mind When Selling

If you are interviewing agents to sell your La Quinta or Palm Springs area property, and they suggest a price that seems to good to be true, it likely is. This practice is called ‘buying the listing’, and it is more common than you think. Since no agent can guarantee your final sales price, the listing agent who suggests a high listing price could be attempting to buy the listing now and convince you as a seller to later reduce the price. When selling your Palm Springs area home, look for an agent who suggests a realistic value range that’s not too good to be true.

In today’s sellers market there is little danger of under pricing a home. Desert homes that are under priced usually receive multiple offers, thereby bringing the price up to or many times exceeding market price.

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