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. . . Maybe I'm wrong. Maybe we can get close to your number . . .
This broaches a more subtle point about what the agent actually believes. There is a difference between an agent having beliefs about what a property is likely to get in a market and having beliefs about what the property is worth.
An agent who believes that there's no value to a property beyond what one can get for a property wouldn't honestly answer "Do you think this property is worth x amount?" with a "No."
I hope you're having fun with that Jack. Again you want to put me in the position of having taken a hugely overpriced listing and not being honest with the seller about my opinions. ?
No Bill, your not understanding it correctly. I've told you now 3 times that you SHOULDN'T have taken the listing from the start. That was the original problem.
Quote:
Originally Posted by Bill Keegan
You're still wrong, and it's still a hypothetical, (as Tungsten can attest, as it was he & I that were involved in the original discussion) but you keep going. Enough people have seen me say this isn't that case, and I won't bother to correct it again. ?
That's fine Bill. If you don't agree w/me and think I'm wrong because I told you you shouldn't of taken the listing, then we agree to disagree.
Quote:
Originally Posted by Bill Keegan
:So it appears that you wouldn't do business with a real estate agent who disagreed with your opinion of the price. ?
Bill, let me tell you something. I interviewed 5 realtors when I sold my house back in '07. I did a ton of research on blogs, different websites, etc....I knew inventory levels, where the market was going etc.....out of those 5, 2 were basically a toss up because they were on the same page as me and "understood" the market and where prices were going. (which unfortunately many in your industry fail to do).
I had a price target and the realtor I chose had 40 yrs of experience in my area and she was spot on w/price...(becuase honestly price is the most important thing that matters). You know what Bill? I sold the house in 45 days because I priced "ahead" of the curve and wasn't emotional about the deal (neither was my realtor...she didn't pull any punches and the whole process was smooth).
Now, maybe this client was "uninformed" up front who knows.....
Again, I would state my case if I was the realtor, however if I was very far apart I wouldn't take the listing. If I was say 10K, that's a different story. I would have firm target dates ASAP and if the client didnt' agree then I wouldn't take it. From the example you gave, it sounded like you were grossly apart. Not me, would never take it....wrong decision from the realtor in this situation.
We disagree that it's not a contradiction. So you'd have to argue for that.
If you choose to not take the agent's fiduciary duty to their client into consideration when you apply your definition of honesty to the situation, that is up to you. Even naive and unrealistic opinions should be tolerated.
If you choose to not take the agent's fiduciary duty to their client into consideration when you apply your definition of honesty to the situation, that is up to you. Even naive and unrealistic opinions should be tolerated.
The duty is contradictory to the notion of honesty if it requires that the agent not accurately report what they believe and not give non-evasive, non-avoidant answers.
That's very fair, with some slight amendment.
You should expect YOUR agent to be honest (perhaps we should switch to the more agreeable "truthful") and forthright.
You should expect any agent that is not yours to be truthful.
Yup!
That distinction did cross my mind.. I expect everyone to be honest with me. That is to say, those are the standards I hold. I don't actually trust them to be honest.
Yes, we've been through this a million times on C/D. Realtors always set a "range", they do not set price. But as I see here when the home doesn't sell, its because "I couldn't see the future"....
How lame.......
Would you, as a seller, allow the Realtor to decide list price? That is essentially what your post is saying if understand it correctly.
Would you, as a seller, allow the Realtor to decide list price? That is essentially what your post is saying if understand it correctly.
I would want the realtor to be on the same page as me in terms of listing price. We would both decide it. That was one of the most important reasons for deciding on the realtor I did.
Judging by how quickly I sold my house previously (and seeing where the market is now), we did an excellent job.
I would want the realtor to be on the same page as me in terms of listing price. We would both decide it. That was one of the most important reasons for deciding on the realtor I did.
Judging by how quickly I sold my house previously (and seeing where the market is now), we did an excellent job.
The agent provides the data and interprets it for the seller. The seller decides based on real information what they want to list at. The agent determines if the sellers price is realistic. If not the agent either convinces the seller otherwise, accepts the listing anyway, or declines to do business with the seller.
The agent provides the data and interprets it for the seller. The seller decides based on real information what they want to list at. The agent determines if the sellers price is realistic. If not the agent either convinces the seller otherwise, accepts the listing anyway, or declines to do business with the seller.
I think "not" was omitted from the last part of the last sentence and I certainly agree. If any of these three alternatives are selected then the agent is buying into the listed price and there should be no issue of honest response.
The agent provides the data and interprets it for the seller. The seller decides based on real information what they want to list at. The agent determines if the sellers price is realistic. If not the agent either convinces the seller otherwise, accepts the listing anyway, or declines to do business with the seller.
Funny you should say the "agent provides the data and interprets it for the seller". 3 out of 5 that I interviewed couldn't even tell me inventory levels or trends for my area along w/median prices. 1 out of 5 didn't know the local High School/Elem School in the area. I HAD TO TELL THEM ALL THIS. They just came w/their very pretty color coded folders, a cookie cutter presentation, & a list price (range)....2 out of 3 were shown the door within 10 minutes.
What do you expect...its just a microcosm of the industry...
As I've been saying all along, caveat emptor.....
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I hope you're having fun with that Jack. Again you want to put me in the position of having taken a hugely overpriced listing and not being honest with the seller about my opinions. ?