6 reasons 'testing the market' is a seriously flawed idea

  • Listings that test the market tend to be overpriced, and because of that, they risk not selling due to buyers (or their agents) knowing better, missing the listing, a poor appraisal or too many days on market.

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The listing presentation was going well. The sellers loved my approach to property prep. They were pleased with the marketing plan and advertising collateral. Just as I was getting ready to have them sign the listing agreement, they said, “About the price … we want to ‘test the market.'”