Direct link to Big Bear Real Estate – Who Controls Real Estate Pricing?
In short, the buyers.
Real Estate agents like to think they have some effect on the pricing, but I believe it is determined mostly by the buyers, and to some degree, sellers. It doesn’t matter how great an agent thinks they are, our how much money they spend marketing the property, if the price is too high and the buyers don’t agree with it, it won’t sell. No amount of skill or marketing will force a buyer to pay a significant amount more than what a property is truly worth.
Now, you definitely want an agent who knows how to market and position a property, but that is all secondary to the asking price. Finding a listing agent that knows how to price accordingly in this market should be your #1 concern.
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