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I pulled into a gas station this morning and saw this sign. The more I looked at it the more confusing it appeared to be. The math just doesn't add up, 1% milk has 69% less fat than whole milk? So why not call it what it really is? (If you really want to be confused, google low fat milk.)
So how did this happen? Someone made the home owner think that he was sitting on something he was not. They were astute, picked up on the fact that the owner wanted and needed more money than the house was worth. Now it is being marketed as whole milk, when it is not that at all. (Not only is the price wrong, but the house has grown in size too!) If a potential buyer can be enticed to look at it, they, like me sitting in front of the milk sign, will be scratching their heads and moving on. And the home owner will be disgruntled in the end. Then there is always the appraisal issue, but I am not even talking about that reality here. 
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16 Comments on Low fat milk and overpriced homes. What on earth do they have in common?
Fun analogy Andrea!
Sadly that agent "bought" a listing from sellers who will be crying over spilled milk when the home doesn't appraise!!!
Oh you have those in your market as well?? LOL I can't believe how many take a grossly over priced listing...only to have to come down many months later...or many agents later! It is aggravating to watch yet we know that some times no matter how good the agent is...we still will take it! Maybe some day the owners will understand what we are trying to tell them!
You got me with the title! You're right, both are certainly not what they would seem to be on first glance. We're seeing fewer overpriced listings in our market now
Andrea, it's amazing how some agents will take anything for any price and just sit on it for the market exposure and the client be damned.
Craig,everyone will be crying over spilt milk soon enough!
Deborah, maybe someday they will, let's hope so. But in the meantime it is so frustrating.
Kate, I wish it were so here, but there are agents competing for listings and this is how they compete.
Gary, nope, we never should.
Ed, isn't it though?
Not a good idea to overprice the house like that. Any astute agent will go back and pull property history reports and see the huge increase. Not a good reputation to build!
Hi Andrea ~ From the irresistible title to the killer last line - and with all the spot on commentary in the middle - this post is just super! Nowadays the "take it at any price" approach can absolutely strangle you as you ride the market down. No thanks!
Liz
Raw? You are living on the edge Andrea. Meanwhile, it all comes down to this...
There are TWO SALES that are made in the transaction.
1. selling the seller
2. selling the buyer
A successful agent will do both. This other agent apparently sold the seller. However that is not going to put a commission check in his/her pocket. Now, here is where YOU come in. Find a way to be there to pick up the pieces when the listing agent gets kicked to the curb.
Liz - Raw milk, I don't think very many people know you mean, but I do. A listing at $100K over market value is just going to spoil on the MLS! Such a shame.
LOL Andrea - Raw and unadulterated home values! You go girl! Maybe you'll end up with the listing after all...
Debi
Andrea, buying listings is one of sleazy part of this business. Unfortunately there are to many Realtors out there that are willing to tell Sellers that their house is the best house on the block even when it is far from it. Most people want to have their ears tickled, and there are Realtors that are more than happy to tell them what they want to hear.
Evelyn, yes they will. But no matter what they did, the market will not support a price like that. Too bad isn't it.
Liz, why thank you! I don't want those listings either, they are a drag on my marketing budget, they are a drag on my energy, they don't make me look good, and they don't make me money!
Eric, I think when the house sits for a while we will get the call again. It is not going to be mine, but it will come back to the office, which is great!And you are so right, there are 2 sales in every transaction, I like that! Thank you!
Judy, I do love my raw milk, perhaps I should call it fresh squeezed! Fresh from the tap, LOL. Yep, it will spoil and smell like a tank full of rotten milk, that's what will happen! And we both know there is only one thing I know of that comes even close to smelling that bad and that is rotting silage!
Debi, well, my office will anyway. Yes indeed, raw and unadulterated home values, that is what I give. No sense to buy listings these days. I do want the sale to go through.
Hi Andrea, I left a comment and my comment is not sticking. It even says I couldn't leave a blank comment. That is a new one. I liked your analogy here.
Andrea, interesting analogy, and too true!
Andrea,
We have "super-listers" here will take anything at any price. They work on volume.
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