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Old 06-18-2018, 04:35 PM
 
Location: Maine
2,271 posts, read 5,552,997 times
Reputation: 2522

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These are the same pictures from the previous listings in the past, too. It's like they are not even trying.

This one, while fewer bed/baths is quite a bit nicer, though the view isn't as nice:
https://www.realtor.com/realestatean...-98859#photo35
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Old 06-18-2018, 05:42 PM
 
Location: Blue Ridge Mntns., NC
10,290 posts, read 14,151,160 times
Reputation: 8813
The subject property could also be a case of divorce; maybe the husband took off and left the wife with 5 children; maybe she had to go to work and is doing the best she can. Maybe someone passed away, or there is serious illness to deal with. A million stories in the r/e biz. Agree, whoever chose the decorating has bad taste, and cannot afford to upgrade it; but paint colors are a minor deal. Maybe the house is going into foreclosure, we don't know -- it happens. I'm sure the agent addressed these issues with the seller(s. Even if it is a distress sale, someone insisted on a high price. Probably to buy time. I hope the agent has the listing for at least a year.


As for agents taking overpriced listings, it is done more often than not. An agent worth his/her salt will give an honest market analysis and a price range that it will sell for. He/she can surely refuse the listing; but we don't know the market there, it could be a hot market. At the very least, the agent/agency's advertising money will attract other buyers and the agent could end up selling a few more in that price range because that one failed against the competition. (An agent in my office had this saying: "Don't smell 'em, just sell 'em".)
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Old 06-18-2018, 06:04 PM
 
617 posts, read 383,699 times
Reputation: 1047
https://www.zillow.com/falmouth-me/home-values/

It's an ice cold market.
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Old 06-18-2018, 08:21 PM
 
Location: los angeles county
1,081 posts, read 1,112,700 times
Reputation: 1045
Quote:
Originally Posted by Diana Holbrook View Post

It's a tough choice, for a Realtor.... We don't want to turn down a listing or an opportunity to have a sign in a yard... but we don't want to be known as "that realtor who overprices things" either.

I don't know where you are, but in my area, no one pays attention to, or remembers, who overprices what. Only fellow agents care about that.

It's all about sticking the sign in the yard, and then using it as an excuse to contact neighbors.


Quote:
Originally Posted by lawmom View Post
These are the same pictures from the previous listings in the past, too. It's like they are not even trying.
That's exactly it. Neither the agent nor seller is serious. Just winging it.

Unless you have more listings than you can handle, you'd be stupid not to take the overpriced listings.... so long as it's no more than a mild time-waster, and the seller doesn't demand too much from you. I bet these listing agents put no more than 1 hour and $20 into it.

After all, in most areas, the listing agent doesn't even show up to anything, so he sits on his ass all day while the selling agent shows the house.
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Old 06-19-2018, 05:32 AM
 
Location: Canada
5,178 posts, read 3,671,821 times
Reputation: 13616
OMG, the color combo alone in that house is atrocious! Purple, red, bright green, bright blue, ugh! They obviously either love color and painted it themselves, or hired someone who doesn't have a clue about tying in colors from one room to the next. I'd be happy when it got dark in there so I didn't have to look at it.

The kitchen is cheap looking: cheap cupboards and the 3 different appliances in different colors is so tacky looking. Everything is outdated.

Overpriced? wow, I'd say so. The property and view is nice. (someone mentioned the horse farm- nice for sure)
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Old 06-19-2018, 08:26 AM
 
Location: Blue Ridge Mntns., NC
10,290 posts, read 14,151,160 times
Reputation: 8813
Quote:
Originally Posted by photogal9 View Post


Looks like a steady upward market from 2014 to present according to the chart; with avg. price around $500K.

(On the other hand, Zillow is not reliable.) Realtors' comps are what matters.
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Old 06-19-2018, 09:39 AM
 
617 posts, read 383,699 times
Reputation: 1047
Quote:
Originally Posted by QuilterChick View Post
Looks like a steady upward market from 2014 to present according to the chart; with avg. price around $500K.

(On the other hand, Zillow is not reliable.) Realtors' comps are what matters.
I had found that particular Zillow link to be accurate to market trends "in my area." This property is not my area.

Of course, sold comps will tell a broader and more clear picture.

If a home has been on the market for +10 months, as this one has been:

1) It's over priced
2) The seller does not want to sell
3) It's over priced and the seller does not want to sell for fair market value

Regardless, isn't my property, the seller can set whatever price they want and get it...or not.

Last edited by photogal9; 06-19-2018 at 10:56 AM..
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Old 06-19-2018, 12:53 PM
 
Location: Blue Ridge Mntns., NC
10,290 posts, read 14,151,160 times
Reputation: 8813
There are three reasons that a home does not sell:


One or all:


1. Price


2. Condition


3. Location


The subject house already has 2 out of 3; and maybe the 3rd.
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Old 06-20-2018, 08:12 AM
 
Location: North Beach, MD on the Chesapeake
32,177 posts, read 39,355,263 times
Reputation: 40698
Quote:
Originally Posted by lawmom View Post
There is a home in my town that has been listed several times over the past couple of years, by different agents, always for about the same asking price. The seller never reduces the price, then eventually takes it off the market.

Why would an agent agree to take the listing for a clearly unrealistic seller? I imagine there is of course some cost to the agent for listing the property on the MLS, and advertising. Just curious.
In this area because they get yearly recognition for "Most Listings". There are two or three who consistently overprice (and yes, many times the owner insists) their listings. Those houses sit on the market for months if not years.
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