Overpricing is one of the biggest pitfalls in selling your home in San Francisco.
I always caution sellers to resist the temptation of choosing a real estate agent who promises to get an inflated price that is not supported by the comparables. This is what we in the biz call “buying a listing.” While San Francisco is a strong market, buyers and their agents are savvy; they are looking at the same comparables and sales trends, and they know your home’s real value.
A conscientious agent is realistic about the pricing strategy. We do our homework and take our role in setting the price seriously. You’ll be at a disadvantage if you work with an agent who only tells you what you want to hear.
Agents and sellers do not determine the final sale price; the market (more specifically, willing and able buyers) determine a home’s value. In general, buyers don’t make offers on homes that they think are overpriced. If your home is overpriced, you’ll be leaving money on the table when you sell.