Buying Listings

[CAugust]

I am disgusted with real estate 'professionals" that "buy" listings.

Let me explain what that means....

you want to sell you home, you interview two agents, one shows you comps and tells you numbers do not lie, ppl do, this is what you should put your home on the market for ......

agent number two inflates the price of the home with irrelevant comps (it can be done) tells the home owner their home is worth more

seller goes with agent #2 ( and why not? they are hoping to get more for their home) - only two weeks later, agent number two says, well perhaps you should lower the price of your home!!!!!!!!!!!!!!!!!!!!! by 10k ??? wow, HELLO!!

talk about unethical! and nothing can be done about it, and the home owner is pretty much stuck with this agent who is doing nothing put plastering a sign on the front lawn b/c they are in a contract for 6 months with them.


If they would have listened to the honest agent, the home would already be sold.

Live and learn - no wonder ppl hate us...... I will never buy a listing, ever.... this is happening to a neighbor of mine who called me first, but went with the other agent, which is totally fine with me - she called me the other day, I told her, I can't help you now. Oh well, live and learn.

So, when you are trying to sell your home when the time comes, be careful and do your own homework.

[Enough]

I can sympathize, I always thought Real Estate Agents work in a tough industry! :(

Do you find people are becoming more "educated" regarding the worth of their home with the internet, or no? :confused:

[CAugust]

I can sympathize, I always thought Real Estate Agents work in a tough industry! :(

Do you find people are becoming more "educated" regarding the worth of their home with the internet, or no? :confused:

well buyers yes, sellers no - when a seller has an emotional attachment to the property that plays a huge part - it not only about a house, but a neighborhood...

[Anotherview]

CA: I am a firm believer that bad news travels fast. Sales people that pull these tactics generally don't go far in their careers.

[dgrzeb]

My wife is an Assoc. Broker with Hunt , if you tryed to pull this off , Peter Hunt would personally come & kick your a** out of the office.........My wife said this does happen "way" too often , esp. now as real estate gets difficult to sell/buy.....She takes her ethics VERY seriously , I know you do also CAugust , can tell by your posts , thanks for being one of the legit ones..........

[CAugust]

CA: I am a firm believer that bad news travels fast. Sales people that pull these tactics generally don't go far in their careers.

Well you would think so right? But not as often as you would think, which to this day amazes me.

[zanna vaida]

I can sympathize, I always thought Real Estate Agents work in a tough industry! :(

Do you find people are becoming more "educated" regarding the worth of their home with the internet, or no? :confused:

Education is the key to success. The more people know, the better off they and their communities will be.

What's wrong with educating the public? It's the part of my career. Any questions? Need information?

[Surfing USA]

I am disgusted with real estate 'professionals" that "buy" listings.

Let me explain what that means....

you want to sell you home, you interview two agents, one shows you comps and tells you numbers do not lie, ppl do, this is what you should put your home on the market for ......

agent number two inflates the price of the home with irrelevant comps (it can be done) tells the home owner their home is worth more

seller goes with agent #2 ( and why not? they are hoping to get more for their home) - only two weeks later, agent number two says, well perhaps you should lower the price of your home!!!!!!!!!!!!!!!!!!!!! by 10k ??? wow, HELLO!!

talk about unethical! and nothing can be done about it, and the home owner is pretty much stuck with this agent who is doing nothing put plastering a sign on the front lawn b/c they are in a contract for 6 months with them.


If they would have listened to the honest agent, the home would already be sold.

Live and learn - no wonder ppl hate us...... I will never buy a listing, ever.... this is happening to a neighbor of mine who called me first, but went with the other agent, which is totally fine with me - she called me the other day, I told her, I can't help you now. Oh well, live and learn.

So, when you are trying to sell your home when the time comes, be careful and do your own homework.I've found, from experience, that a good salesperson can get away with a higher listing price.

I did comps on my last house and attempted to sell it on my own. I had a few people show interest, but it seemed like every time someone agreed to purchase it, they couldn't get approved for a mortgage. Finally, I became sick-and-tired of the "games" and called a, real estate agent, friend of mine to list the house.

When he told me that he was going to list it for nearly $20,000 more than what I did, I was very hesitant, but he assured me that he knew what he was doing. After a few weeks, I called him to insist he lower the price. At that time, he informed me that he had just received two offers. One for the full asking price and another for $3000 less. Because the higher offer involved a VA mortgage and a lot of potential problems, I went with the lower offer to expedite the sale. In the end, after commission and closing costs, I netted an additional $10,000.

[leftWNYbecauseofBS]

well buyers yes, sellers no - when a seller has an emotional attachment to the property that plays a huge part - it not only about a house, but a neighborhood...


You can not sympathize with sellers on this. It is their fault 100% IMO.

Over listing happens all of the time. Almost all of the time it is done by agents who have little to no experience OR simply desperate for a deal. As someone who works with REALTORS on a daily basis, the conclusion I have arrived at is there are homeowners who are dumber than some of the dumb agents I encounter on a daily basis.

If a homeowner does listen to an agent, when common sense says the price is not justified, the homeowner should reap what they sold. All a listing agreement is, when you break it down, is a contract to try and sell a home for a agreed upon price.

[leftWNYbecauseofBS]

I've found, from experience, that a good salesperson can get away with a higher listing price.

I did comps on my last house and attempted to sell it on my own. I had a few people show interest, but it seemed like every time someone agreed to purchase it, they couldn't get approved for a mortgage. Finally, I became sick-and-tired of the "games" and called a, real estate agent, friend of mine to list the house.

When he told me that he was going to list it for nearly $20,000 more than what I did, I was very hesitant, but he assured me that he knew what he was doing. After a few weeks, I called him to insist he lower the price. At that time, he informed me that he had just received two offers. One for the full asking price and another for $3000 less. Because the higher offer involved a VA mortgage and a lot of potential problems, I went with the lower offer to expedite the sale. In the end, after commission and closing costs, I netted an additional $10,000.



The difference is a "professional" did not come in and set the lower amount for your home. You did.

Your agent knew the market and got you what he thought was market value...maybe a little more with his/her skills.

[Surfing USA]

The difference is a "professional" did not come in and set the lower amount for your home. You did.

Your agent knew the market and got you what he thought was market value...maybe a little more with his/her skills.I honestly believe it was all in the "salesmanship."

There were several views of the home, but the only two offers were from people who had no realtor representing them. In fact, other realtors were laughing at the price, and told my realtor it would never sell until he came down to a realistic asking price. I guess he proved them wrong. :)

[Allgirl4BD]

Interesting thread. Sold a home in 2008. It was a learning experience! It was the first time for me, having never owned any real estate until then. I talked to many people - friends,my attorney,my family and finally chose someone who knew the area and had impressive credentials. All things considered, the whole realtor relationship is further based on trust and communication.in my opinion. The realtor I used was a great communicator and kept me informed via phone,email and in-person visits which generated a feeling of trust.

I did not know or was I aware that realtors can "sell" listings. Interesting. But I am a novice in this area. I am going to keep watching this thread...read and learn for me.

[shipdadip]

I honestly believe it was all in the "salesmanship."

There were several views of the home, but the only two offers were from people who had no realtor representing them. In fact, other realtors were laughing at the price, and told my realtor it would never sell until he came down to a realistic asking price. I guess he proved them wrong. :)


Whatever the reason good for you!