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On a personal note, I have declined more business than I accepted for the reasons stated within, this past year. I invest heavily in getting a client sold and will not do so based upon a seller's fantasy.
On a personal note, I have declined more business than I accepted for the reasons stated within, this past year. I invest heavily in getting a client sold and will not do so based upon a seller's fantasy.
This was in today's Chicago Tribune:
On a personal note, I have declined more business than I accepted for the reasons stated within, this past year. I invest heavily in getting a client sold and will not do so based upon a seller's fantasy.
I have done the same -- it boggles my mind when people choose to list anyway and the house sits...and sits...I have actually had 3 people call me in the last 2 weeks thanking me for being honest with them and telling me to let them know when the market picks up enough for them to get what they need out of the house
I have an aquantince that bought a beautiful home for 379k back in 2001 - great neighborhood - sunk a ton of money into it to suite their tastes and then decided to move - fine..... over a year ago put it on the market for 799k - I would never take that listing, my advice was to put a for sale by owner sign on that property because any agent that took that listing was doing her a diservice, it will not sell, when homes in that neighborhood generally go for around 450-500k give or take.....today it still sits, down to 728 - an empty beautiful home where they are paying the taxes of over 12k a year not to mention insurance, and utilities and upkeep ***sigh*** and it's not even about the market here, thankfully, it's about the fact that the neighborhood doesn't justify the price.
We all know why agents take these listings - they want to sink their teeth in them and hope then that the sellers will drop the price in order get rid of it.......yes it's sad, but its a fact of life.
I did ask her why she chose to go with the agent that she originally did - she said well, that agent explained to her that she had access to buyers who wanted bug dollar properties - lmao....what a crock of crap - even if that is true and it certainly could be, does that mean that they would only purchase property from them that they listed themselves??? That was imho a ridiculous statement to make - it's all the mls, if my client wants that home, it doesnt matter who listed it......
I wish them luck, again just my opinion - they will need to come down about 150k for people to even show more interest - the home is beautiful, I will say that - just wayyyyyyyyyyyyyyyy over priced.
I agree. I just had one that wanted to put their home on the market that they purchased a year ago. I told them at best, they might get what they paid for and others in the neighborhood are priced below what they were thinking. They said they were also thinking about a FSBO. I said to go ahead and do that. I can't imagine spending the time and money when I know it is unlikely it will sell for what they think. Sometimes sellers have to go through the process themselves before they realize we (agents) know what we are talking about.
P.S. It seems it is always the second agent that gets the price lowered even if the first agent told them where it needed to be.
Sellers generally like the agent who gives them the best price, especially when that agent touts their 20+ year track record of success and 98% list to sale ratios. What they do not disclose is the difference between original ask and the close price and how the lion's share of their track record occured during the market peak.
There are always an abundance of agents who are thrilled to take overpriced listings in hope of riding them down to what the market will bear. They tend to rely on out of area comps and/or other active listings instead of closed comps. They also may not know the closed or active competition because they did not take the time to see the homes.
I am seeing some listings close as much as 35% off the original price and this has nothing to do with the market and all to do with the owner's fantasy. We all know who these agents are in our local markets and use their listings to sell other homes.
When a property is relisted with another agent/brokerage, it is almost always accompanied by a price adjustment, sort of a pay back to the original agent who originally took the overpriced listing.
I agree with the first part and the second part is very sad. I have 2 dogs and pick up after them since they won't do it themself...
If people want dogs to give DNA in order to catch the person who didn't pick up, than I want DNA taken from kids and parents too. What about all the candy wrappers left in the yards, and other garbage, parents who are too lazy to pick up the free newspaper that they got and leave until it is completly stuck to the concrete...., what about parents who let their kids just walk in other peoples yard.....
In our community some people have (just like me) spoke to people who don't pick up and told them that we will report them if they don't do it the next time....it really helps ...they are embaressed to be caught. If people don't say anything, than nothing will change.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,302,067 times
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Quote:
Originally Posted by middle-aged mom
Sellers generally like the agent who gives them the best price, especially when that agent touts their 20+ year track record of success and 98% list to sale ratios. What they do not disclose is the difference between original ask and the close price and how the lion's share of their track record occured during the market peak.
There are always an abundance of agents who are thrilled to take overpriced listings in hope of riding them down to what the market will bear. They tend to rely on out of area comps and/or other active listings instead of closed comps. They also may not know the closed or active competition because they did not take the time to see the homes.
I am seeing some listings close as much as 35% off the original price and this has nothing to do with the market and all to do with the owner's fantasy. We all know who these agents are in our local markets and use their listings to sell other homes.
When a property is relisted with another agent/brokerage, it is almost always accompanied by a price adjustment, sort of a pay back to the original agent who originally took the overpriced listing.
Yeah, What she said!
I've turned away a lot of business in the past 6 months, because it wasn't really business anyway.
I did get a schadenfruede moment this weekend when one of the agents around here that "buys" her listings put her own home on the market. Bought 1 year ago and asking 15% more than she paid for it. Good luck my dear.
I did get a schadenfruede moment this weekend when one of the agents around here that "buys" her listings put her own home on the market. Bought 1 year ago and asking 15% more than she paid for it. Good luck my dear.
There is a notorious agent in my area who " buys" his listings and has had his own, rather nice, investment property on the market, for going on 2 years, now. It is now priced about 35% more than what the market will bear.
I appreciate having this place to show and use to sell other homes. It's a public service as far as I am concerned.
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