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

Sellers need to let the emotional attachment go and focus on the comparables
  • 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.

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.'”