I absolutely agree with Tom's great blog below. The main stream media is so out of touch with how the market really is, and its really a shame to see! Please leave comments on original blog post. Thank you!
I rarely will put someone on blast, but the writer of this article must have left his "common sense" cap at home when he wrote this article, because it is full of inaccurate data! We are then forced to sit here and watch our buyers and sellers become mislead by reading these ridiculously inaccurate articles plastered daily on the front page of major websites like this one, which happens to be on Yahoo.
Now, lets dissect the MANY problems I have with this article as I highlight quotes from 4 of the 11 "Reasons"
- Pick the Best Broker "As a matter of fact, what is a successful broker doing in the office anyway?"... Please tell me you are joking. I am in the office about 80% of the time on a typical work day. I blog daily, I help manage my agents, I help with marketing, and I am VERY HANDS ON! Would you rather I be at home sitting on my hands, because that's not me!! I believe most brokers I know are the same way., . I really can't believe you would let the public believe any broker at the office is not successful!
- Get An Appraisal "Sellers who get their own appraisals get a realistic idea of what price a bank would value their home at before they enter into a sale" "And an appraisals average cost is only about $200"... REALLY? Where do I start! An agent or broker such as myself can just as easily show you comparables, and show you what your home MOST LIKELY will appraise for, its what we are here for. Also, an appraisal DOES NOT COST $200! Try $400 on average in our area, with several tipping the scales at $500+. You really want to tell sellers to pay for something that is COMPLETELY unnecessary, again, ITS WHAT WE AS THE PROFESSIONAL ARE HERE FOR!!
- Get the right comp "A typical foreclosed home sells for 25%-30% less than similar inventory in the same area" This is ABSOLUTELY 100% FALSE! Foreclosures in our area typically sell for exactly the same price as standard sales! You put this out there, and then we get buyers wanting to write ridiculous offers 30% below list price due to the media planting false information in their brains! Foreclosures rarely sell even 5-10% below market, and to claim they sell 25-30% below market, is a joke!
- Everything is Negotiable "In a market where brokers are desperate for business, pressing for 3% or even 2% may work" Now I am starting to wonder if a 5 year old wrote this article! In our area, 2.5% is the typical buyer agent commission on standard sales, 4% is standard on fannie mae resales, and I have even seen Maxim Properties paying out 6% to buyers agents. I also can say the lowest a full service broker or agent will work for in my experience is 1%. Simple math tells you that 3.5% would be the minimum, yet you are telling people to ask for 2% total listings? You might as well give the property the kiss of death, as 95% of agents WILL NOT show a listing paying out 1%
I really am still dumbfounded that major websites such as Yahoo, which is seen by millions of consumers daily, would put out articles with this type of misleading information in them! Why don't you do a better job of "fact checking" before putting out false facts and misleading statistics!
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Tom Bashe, Broker - SCA Real Estate
27710 Jefferson Avenue Suite 102 Temecula, CA 92591
(951) 225-3030 - Office (951) 491-5052 - Mobile (951) 253-9077 - Fax
I specialize in Listing and Selling Homes in Southwest Riverside County. Whether its a Short Sale, REO, Bank Owned home, Corporate owned home, or simply a standard sale, I CAN HELP! I also highlight communities in Temecula, and blog about local Temecula Events.