The Six Year Listing And Why You DO NOT Want to Hire Real Estate Agent BOB
My brokerage, Buyers Agent Portland, LLC does not take listings. We are an Exclusive Buyers Agency -- and we aren't listing property, and we aren't representing the sellers.
With that said . . . it is really sad to me when I see properties OVERPRICED.
An overpriced listing just sits and sits.
And this is why: The First Realtor Who Will List My House For . . . This post is about Sellers who have NO CLUE about how to price their home . . .
But don't worry . . . Real Estate Agent BOB will list at your price.
Who is Real Estate Agent BOB? Why that's the agent who practices the Bend Over Backward method of running a real estate business.
Yes, we are to "obey" our clients dictates, but on the same side of that coin, our clients should be listening to our sound advice. If there isn't a meeting of the minds, then Real Estate Agent BOB is the agent for you!!
I just closed a transaction this week.
The property was on the market, FOR SALE, and I'm not making this up . . . . . . . .
6.241433 YEARS
The property was listed: June 18, 2007.
The property was sold: Sept. 9, 2013
That's 2,280 DAYS ON THE MARKET -- A RECORD IN MY REAL ESTATE CAREER BOOK!
Why did that happen?
Was the property a dog? A tear-down shack? Could it not get financed.
No, No and No.
It was a PRISTINE home . . . custom build on a beautiful 5 acre parcel with views galore!
The reason was that the owner wanted to hire Real Estate Agent BOB.
The value that property lost in over 6.24 YEARS is amazing.
Sellers wanted Real Estate Agent BOB, and Boy Howdy did they get what they wanted . . . and then some!
These Sellers realized a 35.99% DECREASE in their original list price (36.82% Decrease when you calculate the closing costs I negotiated).
That equates to hundreds of thousands of dollars lost because the sellers were stuck on price and hired Real Estate Agent BOB who overpriced the listing from DAY ONE. 2,000 days later it was FINALLY at the right market price, more or less. I was able to get the price negotiated down by another $35,000.
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