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Why Do Some Agents Do This?
I have been working with some buyers who wanted to get a great home from a builder. The builder will accept trades for some of his homes. These buyers wanted to use their home as a trade.
These buyers are an older couple. They were under the impression that their home had appraised for $275,000. They had the appraisal to prove it. However, the appraisal, when you finally got to the end indicated a maximum of $200,000. Based upon this appraisal, the previous listing agent listed at $300,000. Needless to say, it didn't sell.
When I presented the builders offer,  a very fair offer in my opinion, based upon current market conditions and the property itself, but considerably less than the $275,000 they expected, well, the buyers, to understate it, were disappointed.
I offered several options of where we could go from there but they informed me they had an offer close to the $275,000. Come to find out, what it really appears to be is an offer, by the original listing agent, to relist asking a price closer to $275,000.00. They are pretty sure they will do that.
I wished them well and gave them some suggestions on questions to ... more

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