Home : Blogs : Nick Bastian - Tempe, AZ Real Estate Agent : Nick Bastian's Blog

Realtor comments - Should they be accurate?

I am constantly surprised at some of the things that are in, or left out of, an mls sheet. In one of the neighborhoods I watch closely, there is a home that, in my opinion, was listed approximately $100k over "market value." This was 5 months ago. Nice home, good area, upgraded tastefully etc but I think the agent either let the seller's dictate the price, or did not know the area. After a couple of months on the market, in the "realtor remarks," the listing agent mentions 2 "comps" to try and justify their price. One "comp" she lists a sales price from well over a year and ago. Since that time, the home has been re-listed at $200k LESS than the price she mentions!! Her other "comp" mentions that a home is "under contract" at over 100k more than her list price and says it "does not come up under the same subdivision." The problem is.. The home doesn't come up in the subdivision because it is NOT part of the subdivision! Different product in a DIFFERENT subdivision and justifiably in a higher price range than her listing. Do agents really think people don't know or won't check on these things? Is this agent really representing her clients best interest?
In our market, we don't need more over priced inventory... Sorry, I just wanted to vent a bit. :-)
Oh, she also mentions for us to "bring all offers" lol..

Posted by Nick Bastian - Tempe, AZ Real Estate Agent on 11/04/2007 01:17 AM

Comments (7)

7 Comments on Realtor comments - Should they be accurate?

I believe you should leave a little negotiating room in the list price BUT $100K is out of the question. Realtors need to be honest about what the CMA indicates and should be knowledgeable about the subdivision or nearby homes that are sold as well as they ones that are on the market. Setting the price as close to market value is the best SERVICE realtors can provide their sellers. However, the BEST service a realtor should provide is communication. Great blog.

11/04/2007 01:23 AM

by Kay Perry (Classic Realty/GMAC)

Hi Kay.. I agree with you all the way, AND, my wife is an Aggie! "whoop!"

11/04/2007 01:30 AM

by Nick Bastian - Tempe, AZ Real Estate Agent (Realty Executives)

Perhaps the agent is related to the owner? That would explain it. It's a DNA listing.

11/04/2007 07:51 PM

by Elizabeth Weintraub, Sacramento Real Estate Broker (Lyon Real Estate)

Ha! Thanks Elizabeth.. Although, it was not disclosed, this very well could be a "DNA" thing. I bet we could even come up with some more clever descriptions. :-)

11/04/2007 10:34 PM

by Nick Bastian - Tempe, AZ Real Estate Agent (Realty Executives)

Maybe they should mark it up further on the list price and then offer it for 25% off. At least that's what they do in the Jewelry Business. LOL :-).

11/04/2007 10:44 PM

by Gary Miljour - Mortgage Lending for Tempe Arizona (Cherry Creek Mortgage Company)

Hi Gary! What a great idea.. Maybe she could even put a little blue flashing light on the for sale sign and have a "blue light special" like at Kmart. :-)

11/05/2007 07:44 AM

by Nick Bastian - Tempe, AZ Real Estate Agent (Realty Executives)

Sounds like the agent is realyl not doing a good job. I hope for their sake that the appraiser will use those same two comps.

11/09/2007 06:25 AM

by Dale Campbell (Pioneer Realty)

Leave a response…

Name:

Notify me of new comments:

Comment:

What does the graphic say?