Tell me if this is not a good idea and why

[Jdarg]

What are the cons by listing it at this price, hoping that someone that doesn't know any different (maybe from out of state or out of the country)? If anything, I would think the other houses would look like a deal in comparison.

I think it is this statement that makes the whole thing just icky. The same icky feeling I get from multi-level marketing.

 

[scooterbug44]

It's not the price point as much as the motivation. You can argue semantics and varying levels, but Hollibird's and my ideas of honesty/right & wrong will still be very different.

 

[Bobby J]

My shirt sums it up. "Its all about Price" I wear this when I deliver offers to the selling agent!

 

[Smiling JOe]

scooter, I understand why people would feel that it is "dishonest," but everything that is for sale has a price at which it will and will not sell. Intent means a lot, and trying to pass on an over-priced egg to someone else will eventually come back to bite you in the booty. I see most every industry in the same way, except many of those industries actually convince others to spend more, for inferior products. It is called marketing.

 

[Danny Burns]

scooter, I understand why people would feel that it is "dishonest," but everything that is for sale has a price at which it will and will not sell. Intent means a lot, and trying to pass on an over-priced egg to someone else will eventually come back to bite you in the booty. I see most every industry in the same way, except many of those industries actually convince others to spend more, for inferior products. It is called marketing.

And in my eyes it's dishonest (at best), legal or not. That's why I mute the TV when commercials come on...that and the noise. Maybe it would be a better world if this kind of practice would go away. Wishful thinking?...maybe.

Read my signature line. Call me an idealistic, naive man, but it works for me. The golden rule comes to mind, as well. Maybe more should try it and see what the world could become.

 

[wrobert]

scooter, what is the price point where a property goes from being dishonest in its price to honest? The honest price is the price at which buyers and sellers agree upon and make an exchange, so back to my point, all listings which are not selling would be dishonest, or so it sounds. What is the difference between listing a property, leaving wiggle room? I saw a lot which recently sold for $200K, which was listed at $300K. Was the seller dishonest?

Let's get away from real estate for a moment. Isn't price all about marketing and showing how a property is worth a particular amount? Is a bar of Dove soap really worth $4 a bar? Yes, but only because buyers are willing to pay that much for it. They perceive enough value in it to justify the price.

That said, I agree with Joe Mammy regarding a good and honest appraiser not valuing the property enough to make that sale close.

If homes are being priced so far over the market price in some misguided attempt to make an excessive profit, would that not be price gouging? Or is there some difference between a home and a gallon of gas I am missing?

 

[tistheseason]

What I find shocking is not that she would over price her house or that she is looking for a uninformed sucker to purchase it. . . .it's that she typed it in a public forum. I not surprised people think like this, I'm surprised that someone would readily admit it. Especially when the same person has posted another thread looking for clients. Not someone I'd want to get into a business relationship with -- I'd always be thinking that they were trying to take advantage of me.

 

[Smiling JOe]

wrobert, maybe you could report it to the State as price gouging, but trying to prove that would be difficult at best if the seller wasn't making a profit. As I stated, over-priced properties take care of themselves -- buyers avoid them. If a buyer doesn't avoid it, and purchases the property, there is perceived value to justify the price paid, which may, or may not be the asking price.

Again, at what price does anything become "over-priced?" I beg the answer of you. My personal answer is that a property is over-priced when there is no buyer at that price point.

Regardless of the names you want to call buyers, eg - "sucker," most everyone who purchases a property for investment, wants to find a buyer who is willing to pay more than the sellers paid. Same with stocks. Calling them a sucker doesn't make a person less honorable, does it?

 

[wrobert]

wrobert, maybe you could report it to the State as price gouging, but trying to prove that would be difficult at best

I won't be reporting it to the State because I do not believe there is such a thing as price gouging. Like someone said earlier, pricing the property however high the owner wants is their business, asking if it would be wrong in a public forum is what I find so disconcerting. I will go and meditate on it a bit and may change my mind later.

 

[scooterbug44]

The problem will take care of itself. Who is now going to buy from this person w/o thinking they are being taken advantage of?

There are currently more than 600 views on this thread, which means hundreds of people who live in or visit Sowal now associate this person with dishonesty/trying to cheat people - definitely not good for business!