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Old 02-07-2008, 06:09 PM
 
Location: New York, Westchester
506 posts, read 2,275,205 times
Reputation: 238

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I brought in 6 Real Estate "PROFESSIONALS" to give a CMA on my Home....
1. $715,000
2. $ 750,000 Told him I didn't think he was right he said 800k then
3. $ 879,000
4. $979,000
5. $989,000
6. $1,125,000
I told all the "Realtors" to give me their best # if I wanted to price it to sell in 2-4 weaks....This is a $410,000 difference in price.........how is that possible........... All these firms are both mom & pop and big name company's....
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Old 02-07-2008, 06:13 PM
 
Location: Danbury CT covering all of Fairfield County
2,624 posts, read 7,401,178 times
Reputation: 1371
Those numbers make absolutley no sense at all to me. I recently got laughed out of an owner's house when I did a CMA and came to a price about 15% lower than what he listed the house for.

Did the sold homes match up well to yours in terms of location, condition, size and yard?
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Old 02-07-2008, 06:17 PM
 
Location: New York, Westchester
506 posts, read 2,275,205 times
Reputation: 238
Default They make no sense to you.........

How about me...........lets say you go by the rule where you throw out the highest and lowest im still left with a 250k difference??????????????? WTF.........
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Old 02-07-2008, 06:46 PM
 
Location: Easley, SC
511 posts, read 1,518,736 times
Reputation: 113
Be sure they are comparing apples to apples and if not making the necessary adjustments for your area.
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Old 02-07-2008, 06:50 PM
 
Location: New York, Westchester
506 posts, read 2,275,205 times
Reputation: 238
Default They make no sense to you.........

How about me...........lets say you go by the rule where you throw out the highest and lowest im still left with a 250k difference??????????????? WTF.........
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Old 02-07-2008, 06:55 PM
 
Location: New York, Westchester
506 posts, read 2,275,205 times
Reputation: 238
Default Apples To Apples.................

Quote:
Originally Posted by pgriss View Post
Be sure they are comparing apples to apples and if not making the necessary adjustments for your area.
THEY ARE SUPPOSED TO BE THE PROFFESSIONALS??????????? IF I HAVE TO TELL THEM HOW TO DO THEIR JOBS WHAT DO WE NEED REALTORS FOR...........THEIR IS NO EXCUSE .............OF COURSE THEY ALL ARE NOT WRONG BECAUSE THEY GAVE ME A 400K WINDOW????????????? 3 OF THEM WHERE OWNER BROKERS AND 2 HAD OVER 10 YEARS EXP.......AND THE 6TH BROUGHT TWO OTHERS FROM OFFICE TO HELP????????????????/
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Old 02-07-2008, 07:03 PM
 
Location: Martinsville, NJ
6,175 posts, read 12,905,742 times
Reputation: 4020
Quote:
Originally Posted by westchester View Post
<SNIP>IF I HAVE TO TELL THEM HOW TO DO THEIR JOBS WHAT DO WE NEED REALTORS FOR...........
That's the wrong question. The fact that several of them, maybe all of them, got it wrong is not proof that you don't need a Realtor. It is proof that you need to evaluate those Realtors carefully, to decide which one to use, or to use none of them & find one who knows what he's doing.

Last edited by Bill Keegan; 02-07-2008 at 07:16 PM..
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Old 02-07-2008, 07:17 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,667,652 times
Reputation: 3722
Quote:
Originally Posted by Bill Keegan View Post
That's the wrong question. The fact that several of them, maybe all of them, got it wrong is not proof that you don't need a Realtor. It is proof that you need to evaluate those Realtors carefully, to decide which one to use.
Still, this is totally unacceptable.

How is he supposed to make a decision when there all over the map like that?

What? is he supposed to interview 20 and take the average??

What a joke.
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Old 02-07-2008, 07:23 PM
 
Location: Martinsville, NJ
6,175 posts, read 12,905,742 times
Reputation: 4020
Quote:
Originally Posted by CouponJack View Post
Still, this is totally unacceptable.

How is he supposed to make a decision when there all over the map like that?

What? is he supposed to interview 20 and take the average??

What a joke.
Those 5 (or 6) being idiots, or incompetent, doesn't make it easier for him to do it without assistance. If he needed a professional before he asked them to come in, likely he still needs a professional. So, yes, he needs to do SOME sort of research, to decide which professional he wants to use.
I would expect he asked these jokers to provide some substantiation for their numbers. If he didn't, he certainly should. The ability to provide meaningful justification for the price, in the form of comparable homes recently sold, currently available, and expired, along with a coherent marketing plan to acheive it, should go a long way in making his decision.

Last edited by Bill Keegan; 02-07-2008 at 07:26 PM.. Reason: typos
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Old 02-07-2008, 07:31 PM
 
Location: Atlanta
739 posts, read 826,396 times
Reputation: 279
The problem is that most realtors don't have a clue how to price property. Also, many of them will tell you a higher price so that you'll list with them.
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