I recently did a proposal for a client to list his condo.
A few days later I noticed that the condo was listed on the MLS for much less than I thought it was worth. I called the owner back and he told me that he didn’t even call me because he was sure that I couldn’t match the commission that the selling agent would list the condo for.
It’s his condo and he can do what he wants, it’s happened before and I know that it will happen again.
Since then he’s emailed me twice asking me if I had a buyer for his condo. Each time my reply is that I have people looking for larger condos, but nothing the size of his. I also mention that I can’t easily find anyone for his specific condo because I can’t advertise it or enter it into our global marketing program.
Each time he’s emailed me the price has been reduced. It’s been a month and it’s now reduced way below what I think the market value should be.
It also got me wondering…. Was he looking for someone to list his condo with a low commission or was he looking for someone to actively sell his condo?
Seems like he was looking for an agent who’d offer the lowest commission?
For me to spend time, money, and resources on advertising and marketing a property there needs to be a reasonable reward and a reasonable expectation of selling the property. When selling a home (house or condo) I pride myself on the ability to help my clients recouping the equity that they have in their property. Lowering the price to sell a property goes against that principle. I think that people would rather get a higher price for their property than save a relatively small amount on my commission.
It’s just my opinion but…..
I think you should look for a real estate consultant that will help you recoup the maximum equity in your home, not an agent who’s inexpensive.
If you’re thinking of buying or selling property in the GTA, give me a call at 416-671-5775