Playing The Spaghetti Real Estate Game!
Several years ago, I wrote a post about offers being submitted haphazardly on short sale properties to achieve client goals. Now, it appears that agents are throwing out any number when marketing properties for sale.
After listing a property based on solid comparables in the surrounding neighborhood, another extremely over-valued listing suddenly popped up . I called the listing agent, asking for supporting sales.
She said, "The owners wanted to list at that price and, what else could I do?" I told her she could have shown them actual sold numbers. It is detrimental to potential buyers who unknowingly may bite at that higher price.
Throwing listings up that have no backed up sales data on the Multiple Listing Service to see if it sticks is egregious, in my opinion. There needs to be some accountability when listings are managed like that.
Buyers and sellers need to be educated thoroughly regarding real estate market trends to avoid this type of scenario. It may be just an investment for some but there are consumers involved and it is a people business!
Agents that may be easily led or just looking for a pay day without much commitment will play the Spaghetti Real Estate game.
I may have lost my appetite for pasta...
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