It’s a common problem that land agents encounter during a listing consultation – a landowner who has a particular view of their property’s value. They might cite intangible factors or other reasons why their land should be priced higher than what the market says it will bear.
It’s a seller’s choice to list their property at a price they want. After all, their land is likely one of their largest financial assets. Overpricing their property is one of the most common mistakes sellers make, and it’s a strategy that often backfires. When potential clients want to list at an inflated price, land agents have a choice to make.
In this video, Pat Porter, with RecLand Realty, discusses how a good land agent plays a crucial role in helping would-be sellers determine the right asking price for their property. Land agents will make every effort to educate the seller on pricing. They rely on data, look at the comps and point out what is comparable. A land agent will have a deep understanding of what buyers are looking for in the area.
Pat encourages land sellers to listen to the pros. Ignoring their advice and opting for an inflated price isn’t just risky – it’s a decision that can jeopardize the entire sale process.
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