I heard another story about real estate agents ripping off a client. It is worth considering this story, especially if you are thinking of selling, as it is not uncommon. The agent, who is well regarded, advised the seller of a potential sales price, lets say $900,000. The agent then sold an advertising and promotional package to the seller, at a cost of more than $20,000. The agent recommended an auction. The highest bid at the auction was about $700,000. The agent then bullied the seller to sell at that price. The seller refused, and the property did not sell. It is still on the market. The agent over-estimated the sales price to get the listing, and made a good profit from the advertising package. The seller is unhappy, as she would never have tried to sell the property if it was only worth $700,000.
Take care when an agent recommends an auction and an expensive advertising package.
Ask the agent to provide you with a CMA (Competitive Market Analysis) to justify the agent's view of the selling price, and get that in writing. Study it careful. And take care!
Recent quote from Warren Buffett: "It is a lot easier to buy than to sell."