The Media has created a new problem for Real Estate Agents. The general public has been led to believe that they can STEAL houses. I am constantly confronted with buyers who want to write offers that are 30 to 40% less than the List Price. Most resales are now priced in line with current market conditions and sales in my market area are transpiring at 3 to 10% under list price. Many buyers I work with have been so brainwashed that, even when shown current market sales data, they still insist in making ridiculous offers because the media says that homes can be STOLEN.
Common sense would dictate that most sellers do not have that much equity in their property and builders need to make a profit to stay in business. Even most bank forclosures are not selling anywhere near STEAL PRICES but, in many cases, are VERY GOOD DEALS.
I wish the media would take the time to research and report current market conditions as they actually are. But, this would not make for sensational headlines.
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