Answers (3)
- Michele Bullard, "Michele_Bullard"
- Contributions:120
Dear Scouttster,
I think you are right about one thing. If an agent takes an over priced listing it is unfair to everyone. The agent takes it hoping to get the homeowner to lower their price to where it really needs to be. The home seller has just been fooled into believing that they will get their high price. The public who may have been interested in this home at its real value misses and the agent who is using it for a comp then values the next home a little high because of the competition. Not a great circle to do business in. Stay away from agents who won't tell you the truth, even if you have a hard time accepting it. Thanks, Michele Bullard
I think you are right about one thing. If an agent takes an over priced listing it is unfair to everyone. The agent takes it hoping to get the homeowner to lower their price to where it really needs to be. The home seller has just been fooled into believing that they will get their high price. The public who may have been interested in this home at its real value misses and the agent who is using it for a comp then values the next home a little high because of the competition. Not a great circle to do business in. Stay away from agents who won't tell you the truth, even if you have a hard time accepting it. Thanks, Michele Bullard
- agentblu15
- Contributions:353
You also have to consider that the person selling that home might be a working stiff just like you, who's searching for a way to make up for the fact that they're making $50k less a year now. So they list their home high, hoping and praying that someone will buy it, so they don't take a loss on it.
And, the reality is, that if you're in a situation where your income has dropped substantially, you may have to look in the mirror and accept the fact that you can't afford the same level of home that you used to be able to. So rather than looking at those $200k homes and thinking "how can I afford this?", you should be looking at the $120k homes and thinking "how can I make this work for me?"
And, the reality is, that if you're in a situation where your income has dropped substantially, you may have to look in the mirror and accept the fact that you can't afford the same level of home that you used to be able to. So rather than looking at those $200k homes and thinking "how can I afford this?", you should be looking at the $120k homes and thinking "how can I make this work for me?"
- Angela Hardy, "AngelaHardy"
- Contributions:339
Agents do not set the price of homes listed for sale - sellers do. As an agent I can provide information and advice to a seller - but they make the final decision on where to price the home. I can choose not to take the listing as an overpriced listing does not do me any good either - but often agents hope that sellers will come to their senses and lower the price after they do not have any activity.
Best of luck to you as you search for a home.
Why cant agents be honest about home prices?
Why do they continue to hang on and try to get big money when the whole dynamics of the economy have changed. How can they expect a working stiff couple that once made 75K a year to buy a 200K+ home when that same couple struggles to make 25K now. Lots of them couples out there now..
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