What are some listing agent tricks?
Trick: "I have thousands of buyers in my database."
The agent is trying to sell the house before putting it on the CRMLS, so they can represent both parties and double their commission. This is known as a "Pocket Listing", your listing most likely missed the best buyers. When a listing is properly listed, the much many more buyers from different source will see it and your property will be most likely sold for the best price and terms, unlike from just one listing agent.
Trick: "Your home is worth more than you think!"
The listing agent gets you excited by listing your property for high price and expects to persuade you into accepting lower offer price if the property is not sold in the future. Once you sign an “Exclusive Right to Sell Listing Agreement” with the listing agent, you cannot cancel until expiration.
Trick: "I guarantee your home sells, or I'll buy it!"
The listing agent lists your property at a price well below market value in order to get at least one buyer, nevertheless how much lower than market value. No agent would buy a home unless it is much below market value, as they would lose money having to hold and resell. A home listed below market value usually sells quickly.
