What's My Franklin TN Home Worth?: What is Your Real Estate Agent's Modus Operandi?

What is Your Real Estate Agent's Modus Operandi?

What is Your Real Estate Agent's Modus Operandi?

What is Your Real Estate Agent's Modus Operandi?
I pride myself in knowing the Franklin TN real estate market very well. I preview lots of homes and produce monthly market reports for many of the Franklin TN neighborhoods. As a result, when a new house comes on the market, I instinctively know whether it is priced right. After all, I look at the numbers very closely every month.

Imagine my surprise, when I saw a new listing come on the market priced about $150,000 higher than the most recent comparable sales for this neighborhood. To top it off, within two weeks an additional listing came on the market similarly priced. I was astounded.

In an effort to give the agents the benefit of the doubt, I decided to preview both these listings. I was absolutely shocked at what I saw.

Both homes were built in the late '70's. One of the homes had remodeled the kitchen but the rest of the house had all the original baths, as well as, a very '70's looking rec room in the basement. The entire house was dark and dated.

What is Your Real Estate Agent's Modus Operandi?The second home had original everything from the '70's. There was a terrible odor that almost knocked me over when I entered the front door. I believe it was the smell of cats even though I never actually saw one in the home. The house was a mess; it was dated, cluttered and dirty. I didn't even venture into the basement for fear of what I might find.

These homes were priced in the mid to high $400K. I couldn't believe what I was seeing.

As I walked through these homes, I kept saying the same thing over and over again,


"I blame the real estate agents."


That's right. In both cases, the agents were to blame for the price and condition.

When a seller gets ready to list his house, he seeks the counsel of a real estate agent to guide him to the appropriate price and condition of his home. These agents should be using the most recent comparable sales and what's actively listed to price a home. Additionally, they should also be previewing listings in the immediate area to see how a home will compare. If an agent has done all of this, then he is adequately prepared to give a pricing and condition recommendation.

What is Your Real Estate Agent's Modus Operandi?It was apparent to me that neither agents took the time to do these things. If they had, they would not have priced the homes the way they did.

The only conclusion I could come to--the agents didn't care if the homes were priced right. They agreed to the seller's price even though they knew the home wouldn't sell, just to get the listing. With the hope of getting the sellers to drop the price later to sell.

Upon further investigation, I found this to be true of at least one of the agents. Her modus operandi is to take over-priced listings and drop the price until the homes finally sell. Usually, at tens of thousands of dollars less than originally listed.

Unfortunately, in most cases, this causes the homes to sell for less than if they had been appropriately priced from the beginning.

In my opinion, the agents took the listings to satisfy their own needs not the needs of the sellers they work for. It is exactly these types of agents who give all real estate agents a bad name.

What is Your Real Estate Agent's Modus Operandi?One agent even admitted it to me in a reply to my feedback that she knew the price was too high and the condition was terrible. She was going to use my feedback to try and get the seller to reduce his price. The other agent did end up using my feedback and hit the seller up for his first price reduction--a whopping $25,000. Unfortunately, not low enough to actually get this home sold.

What is your real estate agent's modus operandi? Did he agree to your price just to get your listing? Did he help you prepare your home to be in the best condition for the competition?

If you are looking for a Franklin TN real estate agent who will do both for you, contact Tammie White of Franklin Homes Realty LLC at (615) 495-0752. The most important thing a seller can do is choose an agent who will honestly advise them about pricing and preparing their home for sale.

Don't wait until someone asks you, what is your real estate agent's modus operandi?

Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.
Comment balloon 56 commentsTammie White, Broker • September 11 2012 12:58PM

Comments

You have to get the correct price up front instead of trying to go back in and beat them up with the truth.  These agents "just wanted a listing so they can brag at the office meeting".

Posted by Chris and Dick Dovorany, Broker/Associate at Premiere Plus Realty ( Homes for Sale in Naples, Bonita Springs and Estero, Florida) almost 6 years ago

Chris & Dick - Due to the condition, I would be embarrassed to say it was my listing.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

I'm honest with my sellers. I just lay it out there and if they're not willing to update then we price to sell as is quickly.  Some we just have to turn away.

Posted by John McCormack, AlbuquerqueHomes.com, Albuquerque Homes Realty (Albuquerque Homes Realty * www.AlbuquerqueHomes.com) almost 6 years ago

John - That's the way to be. I do the same. It's better for everyone in the end. And yes, I have had to turn some away.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Suggested.

I had listing appt about 3 weeks ago and had to tell the sellers the home was, in my opinion, worth $30K less than what they had thought. I also told them what price range I would list it for and that if they wanted to list it for their price, I was not the agent for them. They couldn't believe how honest I was. I told them I don't play that game as I want what is in their best interest and chasing down the market was not it.

They did not list with me. However, they didn't list with anyone. They decided to wait to see if the market improves more come spring. I believe they will call me back, but if they don't...then that is okay as I know I am doing the correct thing. Plus, the carrying costs to market a home that is not priced appropriately is crazy!

Posted by Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker, RVA Home Team - Winning with Integrity. (RVA Home Team) almost 6 years ago

I don't like to be "used".  Agents who rely on feedback to get a home to a better price are using our valuable time to do THEIR JOB.

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) almost 6 years ago

It is indeed a stain on all of us because those sellers will not end up having a positive experience.  I have heard sellers complain that all their agents want them to do is reduce the price.  They don't realize it's part of the strategy.

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) almost 6 years ago

Shannon - You have the right attitude. If they come back for your price, great. If not, you are better off.

Lenn - I really appreciate feedback on my listings. But this was just upsetting to me. These listings were both grossly over-priced.

Margaret - That's why consumers think we can't be trusted. When they come across someone who is honest with them, they don't know how to react. I don't care for agents who do this. I find it too troubling.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

I don't believe in taking overpriced listings.  I think it is a disservice to the sellers and the market.  I'm with you.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) almost 6 years ago

Chris Ann - What an excellent point about being a disservice to the market. I actually think that's why the second listing came in priced close to the first. He was working off that number instead of the comparable sales.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

I too will not take an overpriced listing. Just a waste of time, money and in the end...it does not serve anyone. But quite a few agents will take an overpriced listing and then talk the owners into huge price reduction later on :(

Posted by Ann Nguyen, Lake Tahoe Truckee Homes For Sale (eXp Realty) almost 6 years ago

Ann - I couldn't deal with the frustration. Isn't it my job to keep them on track with the market? How can I do that if I allow them to price above the market?

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Tammie: These new listings send a real ripply through sellers. I have an oceanfront listing that is priced fairly, we believe. Another piece of property up the street, also on the ocean, was put up for sale at almost twice ours. Naturally my seller felt strange about that. I said, "you wait in a few weeks that property will drop its price dramatically." Sure enough, after two months, they cut their price in almost half.

Posted by Hella Mitschke Rothwell, Hawaii & California Real Estate Broker ((831) 626-4000) almost 6 years ago

Unfortunately we cannot control the behavior of other agents in our market.  Taking a listing at higher than market value, as a technique to reduce later, is being dishonest and unethical with a client and I believe would have an issue with the NAR Code of Conduct. On the positive side, agents such as yourself, who work toward the goal of providing sound advice and service to their clients lifts us all up.

Thank you

Posted by Brad Kirkendall, CRS, CNE (Re/Max Allegiance) almost 6 years ago

Oh well, these listings are a benefit to me when I show my buyer clients what bang they can get for their buck.  These listings makes the others on the market look GREAT in comparison.  I never give a price opinion with feedback.  I am not "pricing" another agent's listing and doing their job for them.

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) almost 6 years ago

Oh Tammie, we have sooo many agents & brokers here who do this to get market share for their office ....the sellers lap up the untruths about how their house will sell & it sits, sits, sits...maybe it will sell in a couple of years...like your M.O. lady!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 6 years ago

I refuse to take a listing that I know I can't sell.  If it is priced too high or the condition needs improvement to meet buyers' expectations, then I would walk away if sellers choose to ignore the facts.  So far the sellers I've worked with have been reasonable after showing them what a little elbow grease and strategic pricing will do.  

I just can't comprehend how a seller, or the agent can ever justify an overpriced listing.  It does nothing but artificially inflate the average days on the market.  

How is racking up listings with 300 days on the market or 50% expired ever good for an office's market share?? 

Posted by Athina Boukas, Certified Residential Specialist (CRS) (Virginia Capital Realty) almost 6 years ago

First rule of real estate school--only take transactions that you can actually sell. Sounds like these might not help in that area!

Posted by Melissa Zavala, Broker, Escondido Real Estate, San Diego County (Broadpoint Properties) almost 6 years ago

They agreed to the seller's price even though they knew the home wouldn't sell, just to get the listing. With the hope of getting the sellers to drop the price later to sell.  Wow -- what happened to the code of ethics and the fiduciary duty to the seller... ???

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 6 years ago

Hella - It's so unfortunate that a few agents give the rest of us a bad name.

Brad - Thanks for the compliment.

Carla - I don't usually comment on price but I was so upset how over-priced they were I had to comment.

Ginny - I see a big listing team here that does this.

Athina - No kidding.

Joan - I'm guessing these agents would say, "What's that?"

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Tammie, intereswting that two homes come the market close together with the same over-priced prices.

Sharon

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) almost 6 years ago

Sharon - The second agent wasn't from this area. The prices were not exactly the same as the second house had less square footage. I think the second agent priced it based on the first home that had been listed two weeks earlier. Interestingly, the first house has now dropped its price to be lower than the second house. I'm anxious to see what the second house does in response.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Buying a listing does not serve anyone...often it does not sell anyway.  I like to use that term when I meet a seller who tells me so and so indicated that the value of the hosue was higher than my analysis.  I have turned around and said, "Wow, I don't see.  Sounds like they are trying to buy your listing.  My comps don't support that price."

Posted by Frank Castaldini, Realtor - Homes for Sale in San Francisco (Coldwell Banker ) almost 6 years ago

Thanks Tammie,  Great post!!

Far too many agents not only fail miserably in their pricing and prep, but really don't know how to influence their clients to do what needs to be done.

I blame the licensing boards who hand out licenses just because people know how to do the job of a real estate clerk (fill out forms) and very little is said or taught in how to actually SELL Real estate.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams fox cities) almost 6 years ago

Tammie, it's not just the price, but the combination of price and property condition.  Even at the price of the most recent comps, it will be hard to sell a place with a high funk factor, which a strong cat smell personifies.  Yikes!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 6 years ago

Every six months, I run an analysis of the local markets, which we always break down into School Districts.  Anytime someone asks me how the local market is doing, I have the information readily available for them. 

Posted by Brad Baylor (ERA Coup Agency) almost 6 years ago

I had a property come up in my backyard 100k over the market area....it was the seller saying I don't have to sell, but if you want to pay me a little extra to get my home, I will sell....Also, I never looked at the agents involved the same way again..This type of conduct taints you...thank you

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) almost 6 years ago

Philip - Thanks for stopping by.

Frank - I have found the market reports to come in very handy during a listing appointment. They can see I've been tracking their neighborhood for months and really know the numbers. It usually presents less of a problem then. I have had to turn away a listing or two who thought they knew my job better than I did.

Bob - I agree. Even the brokers don't teach newbies the ropes.

Pat - You are right. So much goes into presenting a house for sale. That's why we get paid the big bucks.

Brad - It's good to come prepared.

Richie - How true that is. I had been to one of the agents listings recently in a neighborhood where I had just sold a home. I knew the listing was over-priced. So when I saw this house was listed with the same agent, I did a little research and that's what lead to this post. This is her method of operation--to price high to get the listing and then reduce, reduce until it sells.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

There's always a few agents who over price homes most of the time...and of course the listings are reduced many times before they are sold. Why could through the hassle ... price it right the first time and get it sold.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Perry Wellington Realty, Adam Conrad, Broker) almost 6 years ago

Rebecca - They go through the hassle to get the listing. They think by quoting a higher price it's theirs. In this case, they succeeded.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Tammie,

I agree with you on the most part.  However, I do believe that as agents, we all have encountered that seller that is not reasonable about the sales price.  How many times have I heard "I am not giving my house away!"  UGH!  But, if a home is that grossly overpriced, then the agent is not doing ANYONE any favors....especially themselves and other agents that may end up showing those properties.  I recently had the displeasure of showing a client an overpriced home.  It was overpriced by about $50K (much better than this scenario), but still we were unable to work out a deal/sale as the seller was just unrealistic about the sales price and by allowing him to list it at that high price, the agent set him up to fail.  So, in that respect, I blame the agent.  But...what about the broker?  I worked for a broker once that said to take the listing no matter what.  That a sign in a yard was good advertisement and would generate business.  Of course, I left working for him as that was not my philosophy.  I am working for the seller and for myself as if the home does not sell, then I lose and the seller loses as well.  I walk away from listings like the ones you have described as I tell sellers in my listing presentation that I don't like pain and I don't want them to experience it either.  And trying to sell an overpriced home that is not staged well in this market is just plain painful!  I recently blogged about that overpriced home in my market, as I was so darn frustrated that I lost that sale.  Since then....I have received multiple calls from the listing agent asking my clients to reconsider, but after thinking about it, my clients no longer want that house as it needed some work and they have seen other properties that are better.  Overpricing just hurts EVERYONE involved.  Great post and great points.

Posted by Tina Beasley, It's not about me...It's all about you! (Florida Homes Realty & Mortgage, LLC) almost 6 years ago

Tina - I do a lot of research before listing a home. As I stated in the post, I know my area quite well. I preview a lot of listings and am currently working with buyers at this price point so I've seen a lot of homes priced between $400-$600K. These homes didn't even compare. Too much work was needed on both.

This  neighborhood typically sells between $250-$325K. I was shocked when I saw these prices come on the market for this neighborhood. I'm sure they looked at the comparable sales and active listings but they sure as heck didn't use those to justify their price. I don't think they previewed because I have a listing nearby that would have been a comparable listing.

I'm frustrated because their actions hurt our profession. Consumers don't generally trust real estate agents and when agents do this kind of thing, it makes all of us look bad. We have a fiduciary responsibility to the sellers. Period.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Tammie, I think some agents present facts to sellers to think they can get an unrealistic price, and that will usually not appraise.  I can think of one agent in my area that does not get much business, but everything she sells goes for about 10% less than original list price.  I sometimes feel like writing an offer on one of her new listings and making it 10% off list, and explain in the cover letter that all of her listings go for 10% off original list. (but I won't)

Posted by Gary Frimann, REALTOR and Broker (Eagle Ridge Realty / Signature Homes & Estates) almost 6 years ago

Dear Tammie,

Using this tactic is like shooting yourself in the foot before a long hike. We do not get to the destination (commission) until the home sells. Doing this will guarantee that the home will not sell at all or much later for a much higher cost on our part.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton & rest of Maryland (RE/MAX Leading Edge) almost 6 years ago

Gary - I exchanged words with an agent at an open house this weekend (a subject for a later post). She was bringing her client back to see the home for a second time and criticized me for not reducing the price. We are currently priced well-below market. My client isn't going to drop the price. In this particular case, it is priced well and we are going to wait for the right buyer. When I asked what she would price it at, she said, "I don't know, I can't do that on the fly." My response, "Then what makes you think it's over-priced?" She just walked away.

Dorte - I like those listings that sell quicker.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

I know of agents that do this also. Some sellers just go with the agent that tells them the highest price.

 

Posted by Joe LaVallie, 111363 (HomeStreet Bank) almost 6 years ago

I have been guilty of taking an overpriced listing.  In fact, I have one now.  The owner and I have been aquainted for over 10 years.  She knows that it is overpriced, and that the odds of selling at her price are slim to none.  It is a beautiful custom home, in a beautiful setting, but it is overpriced for the market, and there is nothing I can do about the market.  When I listed the home, I told her it was overpriced, but I would be happy to put it on the market and we would see what happened.  Nothing has happended.  She is not in a hurry, so I guess we will wait and see how long it takes for her to change her mind about selling.

Posted by Karen Steed, Associate Broker Haralson Realty (Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton) almost 6 years ago

I also feel that I really know the local market.  I tour two times a week, work with buyers on a regular basis and study the statistics.  However, our market is so odd right now that lots of agents are throwing up their arms and saying "I don't know anything anymore!!!!"  For example, a house in my neighborhood went on the market for 1.56 Milliion.  I had a listing accross the street for $769,000.  Everyone - neighbors, agents, and buyers thought the house was overpriced.  The owner wouldn't budge.  Two months go by and an out of country couple buy the house for 1.5 million cash.  Maybe it is just the higher priced homes but just submitted an offer for an income property - 4 plex - listed at $449,000.  Agent said that's what the comps told her but...she received 27 offers and I'm sure it ended up close to $700,000.  Your examples for the two houses seems pretty cut and dry.  Our area is just a odd and different right now with a lot of out of country cash coming to the table.

Posted by Ann Wilkins, Oakland, Berkeley, Piedmont CA (Golden Gate Sotheby's International Realty) almost 6 years ago

Very true, I'm sure what happened was the 'let's try it at this price & see what happens closing!'.  Problem is, the house isn't going to sell at that price. Buyers aren't stupid & can go pull the comps necessary.

I'm sure the sellers also didn't want to do the work necessary. If they didn't call you it was because they can see your work ethic online & said 'no thanks'.  I love the sellers giving the excuses about why change the carpeting when the buyer is just going to rip it out - yeah right.

Posted by Lyn Sims, Schaumburg IL Area Real Estate (RE/MAX Suburban) almost 6 years ago

I hear all of this and agree with most of it...BUT ( you knew that was coming) every circumstance is different and I never assume another agent is uninformed, unethical, devious or just plain stupid unless they give me pretty good reason for it.  For instance, I just took a listing of a long time family home (41 years) where the surviving parent is elderly and showing signs of memory loss.  One of the children has full POA so she could have just listed the house but instead all children want Dad to feel in control at a very difficult time in his life and for him to feel like he is participating in the process.  So I did my home work and initially met with the children, then I met with Dad.  What the house will sell for is probably $125k less than where I listed it.  Why?  Because a very caring family let Dad set the initial list price for now knowing that once they get all the personal property purged and they are actually ready to move forward we will then reduce to my number.  In the meantime, Dad is somewhat satisfied and he got to make the decisions and he never tires of showing me photos, special plants, telling me history of some of the fixtures, etc.

You don't know what you don't know.....don't assume anything.  Pick up the phone and talk to the agent.

Posted by Alesia Rapkin (Berkshire Hathaway Georgia Properties) almost 6 years ago

Joe - That's true.

Karen - I'm curious, if your seller is in no hurry, why doesn't she wait until the market can meet her price and then list?

Ann - I'm happy we don't have those types of anomolies.

Lyn - I hear that same thing with paint.

Alesia - No, I don't know the circumstances. In reality, the circumstances don't matter. I am in the business of selling homes. My job as a REALTOR is to advise my clients on how to best accomplish that goal.

When I allow sellers to adjust that price due to their circumstances, ie. we need more money to buy another home or we put $50K into the kitchen and we need to recoup the cost, then that affects my ability to sell the house. It reflects poorly on me. It suggests that I don't really know what the market dictates or if I do know, I don't care.

Those are not acceptable reasons to me to overprice a listing. If more agents turned away clients who expect this, then maybe we wouldn't have any overpriced listings.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Tammie:

I try not to take over priced listings.  Sellers who think their homes are worth more than other homes in their area are difficult to deal with in all parts of the negotiations.  However, we are one of those markets that is experiencing very low inventory.  As a result, my broker suggests that we take the over priced listings with the hope that they seller will eventually relent and lower their price.  Or, wonder of wonders, the house will sell for that high price.

Posted by Evelyn Kennedy, Alameda, Real Estate, Alameda, CA (Alain Pinel Realtors) almost 6 years ago

Evelyn - This is the second time someone has mentioned a broker who advocates taking overpriced listings. I'm happy to say my broker has never suggested that.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago
Hi Tammie we will probably always have the agent over pricing the home. Get them when they expire!
Posted by Bob Miller, The Ocala Dream Team (Keller Williams Cornerstone Realty) almost 6 years ago

Bob - I have.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Tammy - You hit the nail on the head - I do, however, have an over priced listing for a friend - they had no interest in any lower price but I was interested in helping...

Posted by Dagny Eason, Fairfield County CT, CDPE Homes For Sale and Condo (Dagny's Real Estate) almost 6 years ago

Dagny - I took an overpriced listing once. The seller had agreed to drop the price after 3 months if we didn't have an offer. After the time expired, he refused. He blamed my marketing because he'd only had one showing. That's what happens when a home is listed too high. He refused to drop the price so I dropped him. He sold a year later for $400K less. That's also what happens when you overprice. As a result, I refuse to take overpriced listings. The sellers blame us for no showings.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Hi Tammie,

Excellent blog post, you've made some really great points! Sadly, there are a lot of less than honest real estate agents out there. In the end though it always pays to be upfront with your clients and give them good advice. Keep up the good work as a top Franklin TN short sale agent!

Posted by Bas Panch (SCV Home Buyer) almost 6 years ago

Bas - It does pay to be honest in more than one way.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Hi Tammie, great post. As for me, there are degrees. I won't take a "grossly" overpriced listing, but I will think about a "slightly" overpriced listing, because I can work with that one, if the seller is  "workable."

Posted by Sandy Acevedo, RE/MAX Masters, Inland Empire Homes for Sale (951-290-8588) almost 6 years ago

Sandy - That is an excellent point. I have seen homes sit on the market for months, the agents drop the price $10K and it then go under contract right away. These homes were grossly overpriced.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Over-priced listings are just NOT a good idea for anyone. Not doing any favors for it.

Posted by Nan Jester, Realtor, Exit Real Estate Gallery (Exit Real Estate Gallery Jacksonville Beach, FL ) almost 6 years ago

Nan - They hurt us more than they help us.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

Couldn't agree with you more but it jus makes your job as an outstancing and on top of it agent a lot easier.

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) almost 6 years ago

John - I'll take that compliment. Thank you.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) almost 6 years ago

We see this a lot in Flagstaff also. It's important to know the market when you're taking listings. Thanks!

Posted by Sylvie Stuart, Home Buying, Home Selling and Investment - Flagsta (Realty One Group Mountain Desert 928-600-2765) almost 6 years ago

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