Bottom line: The seller lost $50,000 because of his agent’s incompetence. While stories like this don’t happen every day, they happen more often than you’d think. It’s a very real risk you take when you hire an agent who doesn’t have a proven marketing plan. Had a sign simply been on the property, it definitely would have attracted more interest and possibly even started a bidding war, driving up the price. At $50,000 below market price, the listing would have been bid and counter-bid several times, possibly even up to fair market value.
Proper marketing can bring crowds.
Here’s a similar story.
In this case, a seller hired an agent whose incompetence cost her $25,000. Her agent completely flubbed a “perfect offer.” The buyer
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