Can I Buy a Listing???

It never ceases to amaze me at how many agents are still out there doing business as if we were in a seller's market when we are CLEARLY in a buyer's market.... let me explain.

I went on a listing appointment with a couple who had their home recently listed by another agent for the past 6 months. Their listing agreement had expired and so I was calling on them to see what I could do to sell their home ... rather than just "list" it. It was evident from the beginning that the home was overpriced for the area and although it was immaculately kept and remodeled and had many lookers while for sale... still no offers. Not one.

As we discussed pricing the home for selling it this time around, I recommended a price that I knew was not going to make them happy and still, it was the truth based on the market. I was astonished to hear that they had shared with their previous agent what they felt the home would sell for and the agent advised them it would sell for more... and listed it for more!

Needless to say, 6 months and one price reduction later... it didn't sell at all. I am not sure what Realtors are thinking when they advise sellers to price their home at a price that it will not sell and in many cases, not even get shown!

We are in a buyer's market ... face the facts! If you are reading this and you are a home seller... be wary of those agents who quote a price your home would "sell" for without backing it up with statistical FACTS!

And once more... that the statistics are for areas and homes that compare to yours... Two or three years ago, we could have stuck a price on a home way over it's current value and the market would have caught up with it and it would sell. Now, when pricing too high, the values are going the opposite direction and you are going to get left in the dust! Believe me... this is as much the fault of the real estate community as it is the sellers themselves.

REALTORS.... Get out of denial and tell the truth!!!