Have you ever looked at the list price sales / sales price ratio and assume nothinga adds up? 98% LP/SP ratio sounds great if taken at face value, but when you look closer it is not such a good dea for the seller or even your buyer if you are the buyers agent! l if the seller paid $6000 in closing costs. The sellers net changes substantially, but market statistics appear very healthy! Another item tha is not considered in most final sales ratios are what is the real ratio from the very original listing price? Let's suppose we are looking at a home that the days on market were only 29 days, and sold at a 98% LP/SP ratio. What if it was really on the market at $249,900 a year ago...was withdrawn for 30 days, came on the market again at $244,900 and expires several times, perhaps even a different agent.! LOL! Does this sound like the real world in real estate everyday? So when the seller actually has amomnet of clarity and finally lists teh property correctly - why doesn't the final sales price represent actual days on market, and reflect all price reductions of the ADDRESS.
Agents / brokerage stats need to reflect all.
Comments(4)