(More) Realtor Euphemisms
Realtors will seldom come right out and say that a property they’re representing is overpriced.
Instead, what you will privately hear from the listing agent (like I did yesterday in Kenwood) is, “The Seller priced the listing.”
That’s invariably followed by, “make an offer (any offer).”
For more real estate euphemisms, see “Real Estate Euphemisms“; “Real Estate Euphemisms — Office Manager Edition“; “Real Estate ClichÃ©s and How to Avoid Them“; “Show and Sell!”
“Buying the Listing”
The practice of taking a listing that the Realtor knows is overpriced, especially when there’s competition from other agents, is called “buying a listing.”
The calculation is that, once they have the listing — preferably for a long term — the Realtor will extract needed price concessions from the Seller.
As you might imagine, clients’ interests are hardly served by this, for a long list of reasons.
To pick just one: Realtors who know they’re going to waste their time and money marketing an overpriced home tend to expend very little of either, at least early on in the listing.