To the realtors out there - feedback?

[middle-aged mom]

Originally Posted by trmpd

Market analyses are funny things. When we put our house on the market, we interviewed 4 realtors. Their "market analyses" were 20% off from each other, and all of them had comps that looked very reasonable. So I ended up doing my own market analysis based on every single house hold in the area for the last 6-9 months and doing some regressions. Most of the realtors do not have that sophistication. I would suggest that you do the same thing and get a true sense of what the price should be.

Some agents certainly do. You might be surprised at the number of agents with advanced degrees and business experience.

And some of them have also been inside every home used as a comp and usually know why a property sold for what it did, when it did.

Online web sites often show the best interior shots and not the 40 year old bathrooms, the basement with a 5' ceiling, that the granite was tile not a slab and/or the ackward floor plan. It is amazing the variance , property to property, even in cookie cutter sub divisions.

[Lincolnian]

Here's some realistic general feedback (by me) in my area. There is just no middle-income market participation in any housing recovery. 1st-time home buyers and investors are picking up the low-priced homes but there is not much of any evidence of people moving up.

When you look at the property transfers in the paper it's like there is a big gaping hole in the middle. A few high-end transfers (discounted) and many sub-median house price sales.

Are buyers holding out for the lure of the $15,000 tax credit bill, more cautious because they are older and have more to lose, afraid to move, unable to change jobs, or all of the above?

[shermjohn]

Look at what the average time to sale, of those houses in your area. Then of course rank as close to your house's comp as possible. Here this average overall in our city is now at 91 days. Next door to us, a house was on the market for over 1 year finally sold after the owners dropped the price by $30K, and also after they had sunk $25K into it. They lost, but finally the house got sold. You got to be informed, get your realtor to give you sites to research.

[Tish Thompson]

I will give constructive criticism....which I guess could be considered negative feedback, but I do it directly to the agent, NOT via email or online. I know that some sellers are very emotional about the sale of their homes, and I don't want to do anything that may discourage them. I'd rather go to the agent and have him/her filter what goes back to the client.