Some agents win the listing with a price far above the market, then cut it week after week. By the time you see it, you are under contract with limited options. Before you sign, ask every agent for their sold-to-original-list ratio and their days on market.
Some agents win a listing by telling you your home is worth far more than it is. Then, after you sign, the price starts dropping. By the time you see the pattern, your home has gone stale and you are selling for less than a correctly priced home would have brought.
This guide is for homeowners in Lake Nona, ZIP codes 32832 and 32827. It shows how that play works, how to read the price history, and the exact questions to ask any agent before you list.
How the listing-price trap works
The pitch. An agent shows up with a number well above every other opinion you have heard. It feels good. It is also the easiest way to win the listing.
The signature. You sign a listing agreement, often for six months, based on that number.
The market answers. The first two weeks get the most buyer attention. At an inflated price, the showings never come.
The drops start. Five thousand here, ten thousand there. Each cut tells buyers the first price was wrong, and they negotiate off the price history.
You run out of room. Mortgage, taxes, insurance and HOA keep running. The listing is stale. Now you take whatever the market offers.
Most owners do not know this play exists until they are living it, and by then they have no good choices left. That is why you need the questions below before you sign, not after.
Not every agent who suggests a high price is doing it on purpose. Some are simply optimistic. The cost to you is the same either way, so the test is the same: ask for the numbers.
The one number that exposes it: list-to-sale ratio
Two numbers decide how much you actually net: how close your home sells to its original list price, and how long it was really on the market. Marketing usually shows neither.
Original list price — What it means: The price the home first hit the market at
Final list price — What it means: The price after any reductions
Sold price — What it means: What the buyer actually paid
Cumulative days on market (CDOM) — What it means: Total days listed, adding up relistings
From those you get two ratios:
Sold-to-original-list = sold price ÷ original list price
Sold-to-final-list = sold price ÷ final list price
The second one almost always looks better. That is exactly why it matters which one an agent shows you.
One sale, two different stories
Here is an illustrative example, not a real property:
Original list price — Home A: $1,200,000
Final list price (after 3 reductions) — Home A: $1,000,000
Sold price — Home A: $990,000
Sold-to-final-list — Home A: 99.0%
Sold-to-original-list — Home A: 82.5%
Days on market, final listing — Home A: 12
Cumulative days on market — Home A: 140
Same sale. Measured against the final price, it looks like a near-perfect result in 12 days. Measured against the original price, it sold for $210,000 less than first advertised, after 140 days. The seller lived the second story.
Use current, verifiable local numbers
Ask for recent comparable sales and their full price histories in your section of Lake Nona. Compare original list price, final list price, sold price and cumulative days on market. ZIP-wide averages may hide differences between home ages, condition and price ranges.
Questions to ask any agent before you sign
Ask these in the listing appointment. A confident agent with a real track record answers them in numbers. If you get a story instead of a number, that tells you something.
What is your average sold-to-original-list ratio over the last 12 months?
What share of your listings had price reductions, and how big were they?
What is your average cumulative days on market?
How many of your listings expired, were withdrawn, or were relisted?
What sold comparables support this price? Show me sold homes, not active listings.
Why is your number higher than the other opinions I have heard?
If we have no showings in the first two weeks, what do we change, and when?
Can I see the full price history on your last five sales in my ZIP code?
What are the cancellation terms in the listing agreement if the price is wrong?
Red flags
A number far above every other opinion, with no sold comparables behind it.
Only final-price results (”we got 99% of list!”) and no mention of the original price.
“Just Sold” mailers with a sold price but no price history.
Pressure to sign today, or a long listing term with no way out.
How to check any sale in two minutes
Look up the address on Redfin or Realtor.com and open the price history. It shows the date listed, each price change, and the sale.
Check the county property appraiser for the recorded sale price and date.
Ask the agent for the MLS price history: original list price, every reduction, and cumulative days on market.
Always ask for CDOM. Days on market usually counts from the current listing, so when a home is cancelled and relisted the counter can restart, and a home that shows 12 days may have been for sale for months.
What to do this week
Look up the last few sales on your street on Redfin or Realtor.com and write down the original price, final price, and sold price for each. Then send me your address, and I will show you the same numbers from the MLS for your part of Lake Nona. I will answer these same questions about my own listings.
General education, not legal, tax or investment advice. Discuss your circumstances with a licensed Florida attorney or tax professional. Yoganand Ganeshram PA, licensed Florida real estate agent with eXp Realty. Equal Housing Opportunity.
Originally published on Equity Edge Orlando. Reviewed for this Substack edition.