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Right.
But, the price is only derived after consideration of comparable sales and personal buyer preferences, and negotiations on price and terms between the parties.
A listing is only a solicitation for offers, not an offer to sell at that price, and a "List Price" is only a mandatory field in an MLS listing.
That point is fundamental to MLS listings.
Correct, but it will be up to the listing agent to explain that to the sellers. As Brian posted above, many sellers just think “this comparable house sold for $X, my house should sell for $X (or $X+) too,” without always factoring in the only thing that matters, their net.
Correct, but it will be up to the listing agent to explain that to the sellers. As Brian posted above, many sellers just think “this comparable house sold for $X, my house should sell for $X (or $X+) too,” without always factoring in the only thing that matters, their net.
Well, yes. Both listing agents and buyers' agents should attempt to earn their keep, and abilities to provide explanation of fundamentals are core skills.
Regulators could easily require that homes be priced without any "bundled" buyers agent service. Services that the buyer may or may not want to pay for.
There is no rationale that makes sense for the consumer that says that, for example, services that cost $13,500 should be provided "bundled" into the cost of the home with effectively no choice for the buyer. These fees and services should be optional. Simple regulatory change requiring that any buyer's agent services that the seller may want to offer must be charged separately and not bundled into the price. For example, price of home is $450,000 without any buyer's agent services or 463,500 with a full service buyers agent included.
Then the buyer has a choice. They might want to shop around and buy the services in a different way. Buy only what they want and need. Nice and consumer friendly.
Remember when some car dealers would take popular models and build into the price very expensive undercoating, car seat fabric protection, maybe an alarm, etc. For far more than you could buy it separately if you shopped around (that is IF anyone really wanted it). That's bundling just like buyers agent service is bundled into the house price. Bundling stinks for the consumer.
Sounds like a FSBO with some back end limited agent support. Help-U-Sell had a model like this back in the day, no MLS and agents would assist in paperwork and some limited marking.
Typically in life we get what we pay for. I cannot see how exuding your home from potential of thousands of agents and their buyers from the MLS system would be more beneficial to a seller. It's comes down to supply and demand, if you have 1,000 agent all that could have prospective buyers vs a hand full of agents from one office, I would think on the model you mention the sellers would have a lower supply of buyer prospects.
Not to mentioned the literal tens of thousands of other real estate sites other than zillow the home will not be featured, therefore buyer prospects on these others sites are not even seeing the home at all.
Sounds like a FSBO with some back end limited agent support. Help-U-Sell had a model like this back in the day, no MLS and agents would assist in paperwork and some limited marking.
Typically in life we get what we pay for. I cannot see how exuding your home from potential of thousands of agents and their buyers from the MLS system would be more beneficial to a seller. It's comes down to supply and demand, if you have 1,000 agent all that could have prospective buyers vs a hand full of agents from one office, I would think on the model you mention the sellers would have a lower supply of buyer prospects.
Not to mentioned the literal tens of thousands of other real estate sites other than zillow the home will not be featured, therefore buyer prospects on these others sites are not even seeing the home at all.
Yes, that is the problem. Most buyers are (or will be) represented by a buyers agent because buyers believe it's free. So why not. Or even if you're smart enough to understand that you are paying for it in the end, there's not really anything you can do about it. You can go without an agent but it's very unlikely that you will get financial benefit from making this choice. The consumer pays for the buyers agent "full service plan" whether you want or need it or not. Effectively no real choice in the matter.
As you suggest, most buyers are "claimed" or "owned" by buyers agents so any seller refusing to pay the (effectively) fixed priced ransom to get buyers agents to bring buyers to your home could have a very difficult time selling their home or at least they will lose access to a large part of the buying community and therefore may struggle to get the best price and best buyer.
Sounds like a FSBO with some back end limited agent support. Help-U-Sell had a model like this back in the day, no MLS and agents would assist in paperwork and some limited marking.
Typically in life we get what we pay for. I cannot see how exuding your home from potential of thousands of agents and their buyers from the MLS system would be more beneficial to a seller. It's comes down to supply and demand, if you have 1,000 agent all that could have prospective buyers vs a hand full of agents from one office, I would think on the model you mention the sellers would have a lower supply of buyer prospects.
Not to mentioned the literal tens of thousands of other real estate sites other than zillow the home will not be featured, therefore buyer prospects on these others sites are not even seeing the home at all.
Additionally, to advertise a home only on a site that provides a wildly inaccurate pop appraisal value to naïve or impressionable consumers may be a great way devalue a listing.
Additionally, to advertise a home only on a site that provides a wildly inaccurate pop appraisal value to naïve or impressionable consumers may be a great way devalue a listing.
The pop appraisal topic is starting to feel a little overdone here.
But anyway, if you are suggesting that a home appearing on a site that does pop appraisals devalues the listing, as a professional, are you recommending to consumers that their homes should not be listed on Zillow, Redfin, Remax, or Realtor.com???? That may be right or wrong but clearly it's an unconventional marketing approach that's worth clarifying to consumers.
No, I caught the word "only". It makes no sense with or without the "only". Since all those sites do pop appraisals, I have no idea what the word "only" means here. Seems like "only" was used to shoehorn into a point about pop appraisals and a dig at Zillow. But it's still a point with absolutely no integrity as all those sites do pop appraisals. So "only" is meant to make the point about Zillow and not the others? How does that work? Maybe you can explain since you're trying to point out how "only" makes it all make sense.
Anyway, this thread is not about pop appraisals so I'm not sure where that comes in. Seems like a hijack to me. All roads lead to pop appraisals I guess.
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