Wouldn't it be in the best interest of the realtor for properties to sell at the highest possible price so they will get the highest possible commission? Why would they purposely want to deflate the market?
Misguidance on Real Estate plunge
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Wouldn't it be in the best interest of the realtor for properties to sell at the highest possible price so they will get the highest possible commission? Why would they purposely want to deflate the market?
No, I am selling a townhouse for $349,000 that I paid $90,000 12 years ago. At the time of my purchased many owners thought that I had paid way to much. Not so then and not so now.Shelly You are always so nice. To the other feller I realize at any time I can renegotiate with my Realtor. That is not my concern. It goes further than that,its my belief that many Realtors are depressing the market by continuing to artificially lowering the prices of area real estate
Ps Don't worry shelly be happy!
2b,
2 More questions:
(1) How much did you think you could have gotten for your townhouse mid-frenzy (2005).
(2) How many years experience does you current realtor have in the biz?
PS: My biggest worry is that I'll forget the lyrics to Kumbiya
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Absolutely, but the problem lies with Realtors being lost and not knowing how to do anything but say lower,no lower. I feels likes I'm not getten to many of you so I will say this as simple as I can. The Realtor has no problem saying don't lower my commissions because I am already stretched thin. But will come to Mr. homeowner and say wait a minute you bought that place 20 years ago your making enough profit. Now they can't build one for what they want to sell your property for but what the heck thats enough money for you. The point I was making prior about the Golf Memberships is these were places that were exclusive to get into and it is my belief how ever humble that we as owners have a exclusive place to live here and we should not be so quick to give it away. Now I am smart enough to know that almost all Realtors will disagree with me but trust me many home owners are noticing this and may not say anything but they are filing this in the back of there mind and like all things, they will act accordingly. That magazine FSBO may be small now, but give it time and you may see the days of needing a Realtor as we see it today may be days gone by. 
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Shelly, you always have me looking at the bright side of things. As far as during the Frenzy, I believe I had a legitimate offer of $425,000. I felt then as now it is worth more. I defy anyone on Grand Lagoon to show me he or she has a better view than me. As far as my present realitor I want to give him the benefit of the doubt,because he has just recently listed my property. My problem is with many realitors in general and is in no way focused on those who are doing a great job. It is my belief I can withstand almost anything, heck I'm 46 years old and have a 28 year old son who lives in Europe, a daughter who is 23 and graduates from FSU(Go Gators)this fall and hopefully will be attending law school next year,and my wife who I have been married to for 26 years is 7 months pregnant. SO BRING ON THE RAIN
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Fabian,
You would love the guy who owns a lot next to one I have listed. We listed it under $120K and his, almost identical lot next door is listed ForSaleByOwner and his price on the sign after over a year of being posted, still reads, "$325,000." I have talked to him before and he states that he doesn't have to sell, but he will if someone will give him the premium price (which no other lots have come close to selling for in that area). Looks like he is holding to his guns, but that certainly isn't selling his lot, but then again, he doesn't need to. On the flipside, my seller, why not having to sell, would like to do so, hence the substantially lower and more realistic asking price.
You would love the guy who owns a lot next to one I have listed. We listed it under $120K and his, almost identical lot next door is listed ForSaleByOwner and his price on the sign after over a year of being posted, still reads, "$325,000." I have talked to him before and he states that he doesn't have to sell, but he will if someone will give him the premium price (which no other lots have come close to selling for in that area). Looks like he is holding to his guns, but that certainly isn't selling his lot, but then again, he doesn't need to. On the flipside, my seller, why not having to sell, would like to do so, hence the substantially lower and more realistic asking price.
Joe, you may not think so but we do agree. It is my belief you put a realistic price to start with on your neighbors property and therefore are able to avoid continuously lowering your listing price. Do it right the first time and watch the market change. No one is saying that someone who is asking a cazillion dollars for his property is not also hurting things, But many of your counterparts are taking anything they can list and then later on coming back and depressing the market.
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I do hear what you are saying, but the market is dynamic in nature, not static, and to try to stick our heads in the sand and not notice this fact, is not doing anyone any service. Just as the market is able to move up, it is also able to move down. When the market was moving up, a property which sat on the market for three months, unnoticed, might see surrounding properties selling at higher and higher prices. When the comparible closed sales justified a higher price, a seller would have been a little crazy not to increase the asking price of the property which didn't get looked at previously. You have to move with the market in order to make sales.
But you know joe I got to tanken Don't you tink dat da feller wiff da higher price is ahelpen ya? But da feller who gives it all away is ahurten everyone. One is helpem da uder ahurten? just a wonderen.
Buy dat bottom land maw.
Buy dat bottom land maw.
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No, in fact, I think he is hurting me, by confusing the buyers as to what the real price may be for property in that area. A buyer who may be interested in my listing will never call for a price, but instead, use the ForSaleByOwner's posted price of $325K to base the asking prices for all similar lots in the area (and you know that the ForSaleByOwners "has to be" the cheaper of the two -- afterall, he isn't paying a commission -- :funn: Right!) By comparing the price of the two, maybe the buyers also think that there is something wrong with the property which I have listed, for it to be priced at almost one third of the price.But you know joe I got to tanken Don't you tink dat da feller wiff da higher price is ahelpen ya? But da feller who gives it all away is ahurten everyone. One is helpem da uder ahurten? just a wonderen.
Buy dat bottom land maw.
That seller has every right to post his sign, and I'm not objecting to it. However, the only way he would be helping me is if he removed the sign altogether.
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I totally agree with you on this statement and thats why it is :roll: imperative to price right the first time. That goes for everyone,which is what I have already said.
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