"Buying" Listings

[Ethan Kanning]

I've been practicing commercial real estate for about a year and have seen a trend in both residential and commercial in which agents are essentially buying listings. I'm sure this is nothing new. Instead of accurately valuing properties, agents are giving into seller demands and listing properties at 25 to 50% over their market value just to secure the listing. These listings often sit for months or years with no activity and both seller and agent become frustrated. Often times, the seller reduces the price to a fair market value after a few years and then the property sells. Sometimes not at all. I've also heard older brokers say, list or die. As a new agent, my goal is a sustainable and healthy long-term strategy but I'm also trying to secure as many listings as possible. Does anyone have any good insight or strategies related to this topic?