Today's Syracuse Post-Standard has a front page article titled "Sellers in CNY feel a shiver". I'm not providing a link to the article because of what it contains: the address to a house currently listed for sale and disclosure that A) the house is vacant, and B) that the sellers (credited to the listing agent as apparently told to the reported) would consider a low-ball offer.
The article by-line "Tour of open houses across Onondaga County shows sales are slowing down" doesn't seem to be supported by the article as it has been presented in print, but truly that is not the issue I have. I do however have to wonder what several people collectively were thinking in conjunction to the article as it stands.
First, if the listing agent is supposed to be working in the best interest of the sellers, even given that the higher end market in the area is selling more slowly than we'd like, what would motivate that agent to announce that the sellers would consider a low-ball offer? Are the sellers in agreement with this very public disclosure? Additionally, why would the listing agent disclose that the sellers have already left the area? Safety issues aside, both bits of information could be construed as pertinent to the sale of the property and could potentially be used against the sellers when negotiating. Couldn't this be seen as an ethics violation?
Factoring safety issues is another ball game altogether. From the reporter's perspective, it is easily argued that she is simply reporting what was stated to her, and the editor is supporting the reporter's story be allowing it to be printed without editing. However there should be some debate whether or not the property occupancy status should have been disclosed. From a Realtor's perspective, we need to always be on our guard for unusual situations and be aware of taking steps for personal safety. We run the risk of potential problems because of the nature of our business. Meeting strangers in vacant houses on a regular basis is risky business, and we do it alarmingly often. Let it be said though that agents worth their salt know to not disclose occupancy status to a customer. This small step has been taken away from us in this instance.
From my own personal experience, I have had open houses where no one shows up and some where there are so many people you'd think it was a graduation party. I had an open house yesterday in a house that is buried so deep in suburbia that it would be easier to give directions to the north pole than it was to give directions to this house. Yet I still had 6 parties come through, and only one currently lives in the neighborhood. That's a good open house in any market. Although, I will concede that it was just one of an untold number of open houses in the area yesterday.
The headline and by-line of the article gives pause to local real estate agents who have been battling the negative press in regard to the general market conditions nationwide. Our market here has sustained well while other areas have been drowning in a cesspool of lost values. The idea that we would be able to stay above such losses forever would be folly. A very good friend of mine, and real estate addict, posed the possibility to me of such headlines becoming a self-fulfilling prophecy. If you're told enough times the sky is falling, wouldn't you tend to start believing it?
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