Here's a Realtor who gets it. (negotiation, new agent, sales, prices)

[garth]

Click here for the newspaper article.

Here's one of the author's observations:

As I evaluate current inventory, I see my colleagues doing the same. Turning down listings <snip> is becoming common within the agent community. In time, as sellers can't find anyone to list their homes at the inflated price they believe they deserve, maybe they'll understand the need to lower pricing expectations.

The question becomes, when will reality strike the sellers, or when will the agents stop buying listings by quoting excessively high values for the homes? It's got to happen soon or the high inventory numbers of out-of-the-market priced homes will remain a drag on the market.

[Sandy Nelson]

Garth,
Agents who tell their clients what they want to hear are doing them a great disservice. The reason people hire a real estate professional is because we are supposed to be the experts. Giving expert advice means telling it like it is, not promising things we can't deliver.

Sandy

[Beena]

Maybe it is just Scottsdale....but the "I just got back from vacation" line was classic.

We are inundated with new divorcees living on alimony who got their real estate license so they could "part time it". And they vacation about twice a month.

No offense to those of you who really do work hard at it.

[Silverfall]

Originally Posted by garth

Click here for the newspaper article.

Here's one of the author's observations:



The question becomes, when will reality strike the sellers, or when will the agents stop buying listings by quoting excessively high values for the homes? It's got to happen soon or the high inventory numbers of out-of-the-market priced homes will remain a drag on the market.

As some agents continue to take overpriced listings, they will learn real estate the hard way. They will spend a lot of money and time and get nada. Not to say that we don't work with and provide service to our clients, but agents that agree to do everything their clients want is not someone that has good negotiation skills. I mean an agent that is willing to negotiate themselves into debt doesn't seem to smart to me...

[Buckhead_Broker]

Lots of agents take overpriced listings. They figure it's a way to keep their signs out - and the more signs they have, the more awareness they achieve. Their hope is that the seller will see that they are working hard(?) and figure it's easier to reduce the price than to start over with a new agent.

I am extremely picky about taking listings. I've turned down several because they either don't fit my portfolio or there are too many undesireable issues with the property. My mantra has always been, "Exceptional Properties, Realistic Prices, Reasonable People"

[south.charlotte&union]

I do not take overpriced listings...twice in the past six months clients have gone with someone else who tried to buy the listing, and houses are sitting. One of them has called me to work with him after the current listing expires In his words, "I was fooled by smoke and mirrors..."

Sure it's nice to have your sign out. But I don't want my sign out there for longer than it needs to be...

[olecapt]

OK...now back to the real world. Here is a real model for Sale in Sun City Summerlin. Reds sold orginally for more than a 10% premium. All the same house. 1533 SF 2BR 2 Bath great room concept. All the sales in the past year.

There is an obvious recent REPO sale.

Where would you price one of these homes?