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It's Not All Good

By
Services for Real Estate Pros with Ward County Notary Services 607851

Beauty is indeed in the eye of the beholder.

That would be true for both art and for Real Estate. In Timmothy's comic above I would have to agree with Titus & Philemon (the guinea pigs) that Joe's choice in fine art stinks.

As far as beauty is in the eye of the beholder when it comes to Real Estate I've always loved this poster/illustration (and I've used it several times).

There is a lot of truth to the poster... every set of eyes see Real Estate properties differently. If you are a home Seller you may need to put on your "thick skin" when listing your home. Even your Real Estate agent isn't going to see your home as you do. That is why a good Real Estate agent will give you pictures and descriptions of "comparable" properties from inside your Real Estate market.

Don't get sucked into the old trick of a agent suggesting listing your home at a surprisingly high listing price. Demand comparables! If there are not comparable homes on your market consult an appraiser. If you really want to sell and move on it is well worth the fee of a professional appraiser.

Posted by

Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Bob. I have always been a fan of poster outlining the perception of different people, especially the seller and the appraiser. As for high priced listings, they are a form of bribery that seldom gets results. Oh yes, one result of being overpriced is reducing the price to reality.  It's not all good! Enjoy your day.

Jun 24, 2024 04:15 AM
Bob "RealMan" Timm

Our market/MLS has always been fairly conservative Wayne Martin thus I've never had a jaw dropping experience of a property selling for a lot more then I thought it was worth HOWEVER I have seen many over priced homes and they never sell without a serious adjustment.

Jun 24, 2024 06:25 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I agree that everyone sees value differently, and art and real estate are good examples of that!

Jun 24, 2024 04:52 AM
Bob "RealMan" Timm

Thanks Kat Palmiotti , I thought the comparison of art and RE was pretty good (patting myself on the back). 😌

Jun 24, 2024 06:27 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Hmm, this one went over my head, I don't get it at all, haha.  Nonetheless, I enjoy reading it, haha.

Jun 24, 2024 05:17 AM
Bob "RealMan" Timm

Brian England I've seen pieces of fine art that I wouldn't hang in my house if it was given to me. In RE I've seen some trailer homes that had better floor plans then million dollar mansions.

Jun 24, 2024 06:30 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Bob... too many agents still "buy" listings by overpricing them. It's something I refuse to do. I just wish those sellers luck and ask them to call me when their home doesn't sell.

Jun 24, 2024 05:49 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

The whole idea of overpricing a listing adds to the misconception that RE agents are greedy and unscrupulous. I think we have all lost listing to those agents Nina Hollander, Broker but at least we have our pride in being honest with our customers. 😊

Jun 24, 2024 06:33 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bob "RealMan" Timm hi Bob... technically overpricing a home is a violation of our Code of Ethics... as it's lying to our clients. I always wonder how agents justify that in their minds.

Jun 24, 2024 06:36 AM
Bob "RealMan" Timm

GREAT point Nina Hollander, Broker by love. 😍

Jun 24, 2024 06:45 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks, Bob, for sharing your observations and advice.

Have a great day and an outstanding week.

Jun 24, 2024 06:46 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

You are welcome Roy Kelley and I appreciate your posts as well. We are finally getting some of that heat that has settled on your area. How's the forecast?

Jun 24, 2024 06:48 AM
Roy Kelley
Retired - Gaithersburg, MD

We have a sunny summer day in Maryland. The forecast is for a high of 86 this afternoon, feels like 88. We expect warmer weather during the rest of the week.

Jun 24, 2024 07:42 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Bob and everyone looks at a home with different views in their eyes.  I never like the way the tax man looks at mine.

 

Jun 24, 2024 08:17 AM
Bob "RealMan" Timm

I think the way Cities/Counties arbitrarily assign our homes value is a dishonest scam Will Hamm . This year the State of North Dakota has a new provision for senior citizens to apply for a property  tax exemption. I applied and was accepted so that is a BIG relief for this year.

Jun 24, 2024 08:43 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Bob,

Your illustrations definitely point out different persons perspectives. I find it amazing how some agents try and buy listings and then immediately start with the price reductions after overpricing! I have several in my community where there have been 6 price reductions and still sitting on the market.

Jun 24, 2024 12:04 PM
Bob "RealMan" Timm

You would think the Sellers would catch on and dump that agent for someone more sincere Dorie Dillard Austin TX 

Jun 24, 2024 12:41 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Bob "RealMan" Timm  here in California that is even more true about the TAX assessor:)Endre

Jun 24, 2024 09:31 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I understand Endre Barath, Jr. . Minot is a very conservative community EXCEPT for elected local officials. It seems once elected they all want to spend like drunks in a whore house... thus RAISE those taxes.

Jun 25, 2024 07:54 AM