There's nothing wrong with it! Except one thing…

Great point on educating buyers.  Today a dropping price doesn't mean there's anything at all wrong with the home or the property - it just means the seller is willing to lower the price in order to sell faster.

A lot of today's buyers are also making the assumption that all sellers are desperate.  You're right, buyers need a lot of education.

My buyers tend to rejoice over price decreases; it's the DOMs that meke them say, "Something must be wrong with it."

I agree, great points and excellent comments.  Buyers are listening to much to the national media instead of what's going on in their local market.  We educate every chance we get, even ran several radio ads and press releases to inform potential clients our local market is different than what the national news is reporting. 

All my buyers are thinking the prices are going to go lower because every week they drop.  So, of course, they are waiting to buy.  The hard part is getting them to make an offer NOW.  How much lower can they possibly go????

Buyer education has always been important, but now even more so.  What kills me is when a property is priced correctly and buyers STILL want to offer incredibly low.  They do believe that all sellers are desperate and that they won't get a deal if they don't buy for $1,000's under list.  Its pretty aggravating...

Amy

The hardest thing is educating sellers that their home is just not worth what it would have been 6 months ago even.  They want to think that we are just trying to get a quick sale.  It is more than a frustrating time with buyers and sellers alike.

I have seen an increasing number of buyers who want to "low-ball" a price on a sales contract.  They call me and tell me they have found a house for $XXXXXX and what would payments be.  And then they'll ask me to figure payments on $10-30K less than that.  I hear  "Well its' been on the market for a while, I'm going to throw out this low offer just to see if they will take it".  We keep creating monsters in this industry.  LOL

I'm with you, it is our job to educate our clients. Too much inaccurate information has been in the media and out in the public. The market needs us Realtors and they need us to be educated. This is when we can take our industry to a higher level and show our true value in the industry.

I'ts always one thing.

It's a pleasure to work with you. You are a nice, caring and intelligent person, and I think you are a blessing for anyone you meet. Thank you for all your advice, talk to you soon.