Beware of Listing Price

So you contacted a Realtor® to list your home, and the agent indicates that you might get more for your home than comparable homes on the market, or more than other agents have told you. After all, it just takes finding one person who is willing to pay your price, right?

Unfortunately some Realtors® approach a listing appointment as if they are bidding for your home. In any market, sellers can often start out with an unrealistic opinion of their home's value, and there is often a strong temptation to go with a person who says what you want to hear. A good Realtor® will back up their opinion of your home's market value with hard data. The agent should give you information about homes that are currently on the market, and recent selling prices of similar properties. The most heroic marketing efforts won't work on a property that is overpriced.

Even if you find a buyer who is willing to pay more than your home is worth, the sale could fall apart when the appraisal comes in lower than the agreed-upon price. Listen to everything, but be careful! Not only is this a dangerous way to choose your Realtor®, but it is a direct violation of the National Association of Realtors® Code of Ethics:

Duties to Clients and Customers,
Article 1 Standard of Practice 1-3,
REALTORS®, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.