Advice needed on listing 20% below FMV

[Sorin T]

Hello, fellow BP'ers

I have this property (TH) that I rehabbed and intent on selling (Denver market). For all practical purposes the FMV is 65K but my new agent (who came recommended) insists on listing it at 50K to attract many buyers thru the door that would ultimately do competitive bidding up to 65K. He is fairly convinced we'll get that offer in less time than if we were to list at 70K or 65K and he says he's done this successfully before.

I know I (as a buyer) would be turned off by such practice but maybe I don't represent the typical buyer. Your opinion on this practice? Does it work? Potential pitfalls?

To note that if I don't get the FMV for this I plan to just keep it as a rental so I'm not desperate to sell. And I made this clear to the agent. He seems to agree we'll get 65K easily for this.

Feel free to chime in your opinions, thanks for listening