Two agents have given quite different valuations for my Los Angeles studio. The higher proposal is tempting, but comparable listings that started ambitiously have been sitting for roughly 85 days before reducing. Would you price near the likely sale figure to capture first-week interest, or test the higher number? I’m particularly interested in completed outcomes rather than an agent’s pitch, and what detail—condition, exact neighbourhood boundaries, financing, or seller urgency—made the difference.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Start high and cut later, or price a Los Angeles studio to sell sooner?
- Thread starter otis_cove
- Start date
freya_east
Real estate agent
I’d start closer to the price supported by recent completed sales. An ambitious listing can attract views without attracting credible offers, and a reduction after 85 days may make buyers wonder what is wrong. The higher valuation only means much if that agent can identify genuinely comparable completed sales, not merely other optimistic listings.
freya_east
Real estate agent
I’d also ask both agents for the same narrow comparison: studios in similar condition, within the same neighbourhood boundaries, including withdrawn listings and the timing of any cuts. Otherwise they may be selecting different evidence. How far apart are the valuations, and is the higher agent proposing a clear reduction date if the response is weak?
I wouldn’t automatically reject the higher launch. If new-listing volume is low and the seller is not under time pressure, a limited test can be reasonable. The danger is calling it a “test” without agreeing what result ends it. Set a short decision point based on viewings and serious buyer feedback, not hope. Also consider whether likely studio buyers will be financing; an unsupported price can create another hurdle even if someone initially offers it.
The practical middle course is to make each agent show three numbers: recent completed prices, original asking prices, and final asking prices after cuts. Then separate differences caused by condition from those caused by location. If the higher figure still has support, try it only with a pre-agreed timetable and reduction amount. If your motivation is a prompt sale, preserving the fresh-listing period probably matters more than proving the higher agent right.