I visited a retired couple the other day to buy some furniture they had for sale. Out of curiosity, I asked them why they were selling? (The furniture) They said they just sold their house and purchased a new smaller one. I politely asked what it sold for, and told them I was a Broker and just wanted to know for my own knowledge. They happily obliged and happily told me. I hid my jaw drop,(I hope) They also said it sold in 4 days. So fast they had to rent it back a month to have time to move!
Now I realize this is a good thing for sellers. But this gorgeous, well kept home on a close in 1 acre lot for what I saw was well under market (now) made me a little sad. I have know idea who sold it yet, But I kinda feel like they may have been taken advantage of. So listing agents, try and do the best for your clients, comps are going to take a while to get caught up, just like they did as the market slid.
Do your client a favor and make sure you know what you have competition wise, condition, location, etc when you price a home. Get off the computer and go look at the area. This area had NO competition, NO other houses for sale, and a very desirable established 1 acre lots close in.
Just sayin', I think its good to be versatile in handling both sides of the market. If your just listing or just selling, make sure you keep up with the market. A lot of sellers are not aware of the upswing in some areas, so they easily agree to underpriced listings.
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