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8 Comments on Hmmmmmm . . . No, You Didn't Change the Price -- Best Real Estate Practices
I would give them the benefit of the doubt , IF (big IF) the agent had another listing with a similar (perhaps one number different on address or MLS #) different that also had a price change. And even perhaps a seller said okay and called back two hours later and said, on second thought, no I won't reduced yet. But it does give you pause to think they just wanted it to show up on the hot (that what's we call it here) list with a price change.
Since the price change was so large, this particular example sounds like an error that got corrected to me...like someone changed the price on the wrong listing. When I was selling, my team used the price change in the MLS by a $100 price change (which we explained and annotated on our listing agreement with our sellers) as a marketing strategy. In our MLS the price change was one way to cause the MLS system to re-send the listing to anyone receiving automatic email notifications...to give them another look at it. It isn't a violation of our MLS rules...and I think it is a great marketing idea.
I'll go with your gut on this one. You know the agents in your marketplace, we don't. I have never seen such a game out here. Pretty sneaky.
Here you cannot take a listing off the market and put it back on as new without waiting a certain period, 30 or 60 days, can't remember. People get around that all the time. It is sad when we all play the game fairly. And they really aren't fooling anyone since it's in the history anyway.
Well let's hope that was an error and the sellers were informed. Mistakes do happen, yet it makes one wonder. I do remember the song very well... funny in hindsight, they didn't have instant discoverability via the internet then. Maybe our future ain't so bad afterall...
Hi Tammy . . . the price was the only thing that was touched, which is why the code PCH is indicated. And what a drop . . . $75,000. It's not logical that the original price is dropped $75,000 -- oops?!? -- then back up to the original price again. I'm calling "playing around with the listing" on this one.
Hey Ken -- yes, to get it back under the noses, and it does go out. It's a violation if the seller didn't authorize the price change (in this case) to $249,900.
Hi Chris Ann. . . thank you! They play a lot of games and the RMLS is constantly updating trying to keep people honest. If listing agents didn't have the history and pattern estabished already, yeah, I'd give them the benefit of the doubt. But they're known to play around all the time.
Hey Jane -- they play so many games. They aren't fooling anyone with it in the history, you're right.
Hi Rene . . . It wasn't an error and the sellers probably aren't even aware that their listing agent is bumping the price down and up to get it into the Hot Sheets. I never underestimate how "smart" some people think they are. ;-)
Hmm, I don't know about that one. Seems like that large of a price drop might have been a mistake, but who knows. You can conceivably get the property under a PCH with a $100 drop too. But you are right, I am quite sure with that quick of a change, the seller didn't realize their home was dropping that much in price lol :)!
Hi Brenda . . . I'd chalk it up to "mistake" IF there was an ACTUAL price change. There was not. It was done only to get some juices on the PCH (price change) Hot Sheet and get it under the noses of agents again and to pop up all refreshed. You'd be surprised how many agents don't check "History" to see what's going on.