I have an appropriately-priced condo next to one that is a short sale listed by a broker from 2 counties away. His is priced 20 % below mine and he doesn't care that he is hurting the homeowners and other sales in the complex. I have spoken with him about his hurting prices and he just said, "yeah". What happened to doing what is best for your client, even if they will not net anything at the sale? He doesn't even have it listed in the local MLS so that agents in this area know about it. That especially hurts the price. There was another one that I called too. Let's get back to working together to do what is best for everyone!
Paradise Properties of Florida, Inc. - Palm Beach, FL
I am a Realtor in Palm Beach and West Palm Beach, Florida specializing in Short Sales. I notice that many Realtors are putting ridiculously low prices on their listings as an attempt to 'hook' a buyer. Then once they have that contract they short sale process can move forward and they can find out what the Lender is looking for. The anxious buyer is just a pawn. Everyday we see "deal fell through...need a new buyer". The Realtors who price super low are hurting everybody.
Marsha Montoya Mayer
Feb 21, 2010 01:50 AM
Century21 Beal Inc. - College Station, TX
Emily,
The client may have given the agent instructions to list at that price (i.e. wants out from under the property ASAP. Filing for divorce "shortly" and doesn't want any profit).
Do you call out of area Realtors when they are asking a sale price 20% above yours?
Marsha: A similar technique is used by car salesmen; is that one of the reasons Realtors are looked at as car salesmen?
Feb 21, 2010 02:40 AM
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude
Good point, Emily.
But the real test will be what it sells for. If it is like our area, things are pretty consistent within complexes and many go for over asking, sometimes substantially. Pricing low is just a ploy to get some bidding going.
The out of area agents sometimes haven't a clue about the local market it seems.
BTW you should advertise your listing as a separate post.
Jeff
Feb 21, 2010 03:38 AM
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