We are in a buyer's market.  A lot of properties that are on the market are getting many showings but not a lot of offers.  Properties can sit on the market for a while in this market.  When offers are presented on these properties I hear a lot of frustration on the part of the agent presenting the offer.  Like they already know they are wasting their time.

Yesterday I got a very long voice mail from one of these agents.  This agent had a buyer who had seen a property seven months ago and had some interest but felt it was overpriced.  This buyer has not been back to see the property since.  The agent's message begins with "I have a buyer who....."

• saw this property seven months ago
• who wanted to put in an offer but thought the property was overpriced back then
• who tells me that if I can encourage him he will press for an offer
• that his buyer has to renovate the property and believes it will cost $50,000

Here is the problem.  This agent has not been following the comps in the building and never checked.  He didn't know what was going on and that a comoparable property had just sold for $30,000 more than the asking price on this property.  Had he looked at the comps before calling he would have known that this seller had priced his property in such a way that the message is clear that he wants to sell.

I said to this agent, yes, I know and so does the seller that this unit is unrenovated.  Yes, we have reduced the price for both the current market and the unrenovated issue.  Yes, yes, yes.

Do you have an offer?????  Have not heard back from him, he has not made an appointment to reshow the property.