When is the Chicago real estate mob going to realize that the American public are tired of being lied to, even if its a lie they want to hear and believe.
His property was grossly overpriced from day one and property values in the area have dropped 40% to 55% in contrast to the NAR position that values have only gone down 1.9%
What type of mixed message is the leadership of the realtors guild sending to the public when they say "we can help. trust a realtor, we can sell your home" in a market where property values are dropping like a rock?
Talk about the blind leading the blind.
How is the rank and file person trying to make a living in the real estate business going to have any credibility with the public when the organization they are forced to join just lies day in and day out to the public?
Does anyone here remember David Lerah?
The list and hold method of marketing real estate is broken & flawed.
The NAR has told the American public that they need a realtor to figure out what price should be the line in the sand for a property. They added insult to injury by writing up laws that the negotiations for a property must be done secretly and an agent (in many states) cannot tell a prospective buyer the reason for the sale or what the last bid/offer was.
People are tired of being lied to and forced to play games worse than the old used car salesmen 'lets run it up the flagpole and see if it flies' kind of treatment... yet thats what they have trained over 2 million of you to do.
Auctions on the other hand are open and transparent with full disclosure of the property and dynamic market pricing.
It's time for a change, either continue to do secret negotiations one-on-one using a broken list and sell model.
2000 years of auctioneer traditions combined with 21st century technology.
Either Way the housing market facts program is a bunch of BS that the public will see right through and damage the reputation of each and every local agent who must bow to the monopoly of the NAR of be denied access to the sacred MLS.