"How Do Homes Get Overpriced?" Many sellers have an unrealistic idea of what their home is worth, often because they paid too much when they bought it.

Most sellers call the agent who sold the home to them, when they are ready to list their home. It is unlikely this agent will tell the sellers they paid too much for the house when they purchased it, so again the house remains overpriced.

New agents need listings to get exposure (yard signs, television shows, newspaper advertisements, etc.). They do what they can to get listings because of their desire to succeed. Because they lack much needed experience, new agents frequently accepts listing which are unrealistically overpriced.

A substantial number of agents are "part-timers" or hold other jobs. These agents often do not have time to learn the value of homes in a particular area. As a result, the properties they list may not be priced within range of current market values.

People don't lose money when they sell their homes; they lose money when they buy them. To make sure someone is working on your behalf, insist on expert buyer representation from a company that specializes in exclusive buyer brokerage.