It was with a great sadness, I had to tell a good friend's prospective daughter in law and son that the home that the daughter in law bought 2 years ago on a very busy street declined in value....to the point that the home she and her brother had most probably over paid at $163,000 with no money down would now list for $139,000....no other home in the last six months had sold for even close to that amount...so there was no choice since both brother and sister were gainfully employed with good paying jobs but to bite the bullet,...not ruin their credit AND take out personal loans and come to closing with the necessary cash.What was that realtor thinking...the neighborhood was not on the rise and the street had no signs of getting less busy....she had certainly not done them a favor and I felt badly that this realtor had been the daughter-in-law to be's first introduction to real estate. I would do all the marketing and advertising I could to sell this house and have this young couple begin their lives together.
BUT WAIT....the STORY GETS WORSE !!!!!!
I felt it in my bones as we left the house....they would call the other realtor...how could she possibly show them comps....would she continue her evil ways...this time, there would be no way out...the house would never sell for that amount...and it would certainly never, ever appraise.....Enter Realtor no. 1....sure enough....no comps of course but she KNEW she could sell it for the $174 she would list it at...and of course I had no clue what I was doing....and becuz people hear what they want to hear....and believe what they believe is less painful....I know they will list with this...........don't even want to use the word "realtor". Does she sleep nights ? Do they know she has a similar listing that has been on the market over 6 months ? The groom's mother says let them learn the hard way....and I know that in the end they will learn I was the honest realtor....I just wish they could do it less painfully....and without learning that another realtor could be sooooo dishonest !