Your Home's Been Valued Too High - BEWARE!

You want to sell your Home and you feel that you know rougly what it's worth, but being a savvy person you call in 3 local real estate salespeople for their professional opinions.

Each one presents you with a printed Competative Market Analysis and while two CMA's are very close in their suggested offering price - which may in fact be a little lower than you expected, the third is quite a bit higher. Of course, you feel that your lovely home is worth more and you are delighted that this valuation is more in line or even better than yours.

Like so many people, you decide that you will list with salesperson #3. S/he is the one who feels that your home is worth more, and as you were told, you can easily drop the price later if it hasn't sold, right?

Be careeful that you just didn't fall into a trap called "Buying A Listing". S/he just bought your business by suggesting that your home is worth more than the other two salespeople recommended even though you looked at all the comparable area sales for yourself and you now know that your expectations are ambitious. S/he knew that in all probability your house will not sell for that price, the intention all along was to get your listing and then talk you into lowering your price later. If s/he can't get you to drop your price, maybe s/he can pick up a buyer from an ad for your home or at an open house and make a commission there.