dishonest agent tactics
I live in a small city with a hot market currently where it is difficult to get renovated family homes.
I am getting ready to sell a down to the studs renovated home two years old on a large lot for the city. The house next door sold a year ago for about 225/sq foot, and prices have increased since then. It is an investor flipped cape with a detached garage on a single lot. Mine is a ranch with an attached garage.
One agent gave me a listing price at 192/sq foot and said if he brought people thru before listing he would charge 4%, and wanted to take people through right away, in fact drove by with a family he had and told them the house was coming up. I thought his price was low, but clearly he had motivation for a low price if he had a waiting buyer. He told me that my house was worth lower price because it was a ranch.
Another agent gave me a list price of 225/sq foot, told me she had ranch only buyers and ranches were rare. She also offered 4% commission if it sold before listing.
Many homes sell before listing, especially the larger ones because there is a pent up need for "move up" homes.
Is the first agent just really dishonest? I cannot believe the disparity. I know that renovated homes are selling at 225/sq ft, and the new homes are selling at 295/sq foot.