listing prices out of line?

[yellowsnow]

I don't think anyone including the realtors, at least quite a few of them, know how to price in this market. It's a best guess effort. I listened to several realtors and my house isn't sold yet. Instead of jumping in on the blame game I started tracking properties on the market in my area. Price doesn't seem to matter because nothing is selling. If you are fortunate enough to get an offer, there is a good chance financing won't go through.

I talked to most of the people in my neighborhood who are trying or have tried to sell. They didn't get any more showings than I did. That goes for the cheapest and the most expensive as well. It's a frustrating time to be involved in any of this.

[jimj]

Originally Posted by yellowsnow

I don't think anyone including the realtors, at least quite a few of them, know how to price in this market. It's a best guess effort. I listened to several realtors and my house isn't sold yet. Instead of jumping in on the blame game I started tracking properties on the market in my area. Price doesn't seem to matter because nothing is selling. If you are fortunate enough to get an offer, there is a good chance financing won't go through.

I talked to most of the people in my neighborhood who are trying or have tried to sell. They didn't get any more showings than I did. That goes for the cheapest and the most expensive as well. It's a frustrating time to be involved in any of this.

Same thing here, as far as we can tell there's no rhyme nor reason to what's happening and though my agent won't admit it I think they're all just guessing at what to price things at right now. I asked for recent comps so I could check where my price is at and all I got was still actives. Anyone have a dart board and blindfold for sale?

[EANJ]

I'll go against the grain here. I have realtors look at my properties all the time (at their own invitation). I don't have any properties in any area where there are zero sales. So, in my case, the agents have something to look at. With a comp that isn't identical, I think agents who truly "know" their marketplace, and know the mindset of a buyer, can assess what -- for example, a 2 car garage, cathedral ceilings, a larger lot, crown molding, etc. -- all of these things might or might not be worth to a buyer.

I think the agent also has a much broader base of experience, information, and resources, available to them -- and that too should give them an advantage in arriving at a qualifed or educated opinion.

Sure, there is guesswork, and maybe some throw darts, etc. I've seen many off. But I've also seen some dead spot on and really add a great deal of value to their client's position -- fast sale, qualified buyer, bidding war, etc. Obviously, the agent I referred to earlier either had no idea, really messup, or I have no idea what. Besides being very unprofessional, the agent might have pulled a # out of the sky instead of just "opening your eyes".

Good thread.