Mr SDR

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Submitted by housingfreefall on August 9, 2007 - 2:46pm

Can you comment on this weird phenomenon?

While tracking a few properties I began to make note in the last week or so; an example: property listed 745-795 dropped to 699-745 for months. Suddenly, raised back up to 729-745 are sellers attempting to send a threat to buyers that they will what? "sit on their property despite the fact that their property has sat for several months at a lower price and did not sell" help me with the psychology behind this not so clever strategy

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What can I say other than
Submitted by sdrealtor on August 9, 2007 - 2:50pm.

What can I say other than people are strange. BTW it's just sdr. Mr SDR was my dad.

HFF I am not sure about the
Submitted by SD Realtor on August 9, 2007 - 2:55pm.

HFF I am not sure about the strategy of that... sounds kind of hair brained to me....

One possibility is that at the initial listing appt the sellers and agent agreed to a price. Then when some offers or an offer did come in at that low price, the sellers said no. This irritated the agent, rightfully so, and the agent told the sellers that if they were not going to negotiate in good faith at the advertised price, then they should change the price that was advertised.

Another possibility is that the sellers were not made aware of the closing costs, or loan prepayment penalty or some other cost and are trying to cover it...

Or the sellers are idiots... or as you put it in a nicer term, "not so clever"...

Could it also be a case like
Submitted by AN on August 9, 2007 - 3:03pm.

Could it also be a case like the infamous prudential range. In which they never intended to sell at the low end of the range and changing the low end of the range is just a way to keep the listing alive? If you have registered for email notification, these changes would make these properties show up on the email notification.

There was a similar change
Submitted by betting on fall on August 9, 2007 - 3:09pm.

There was a similar change in a listing around me and the "possibility" SDR discusses is exactly what happened. I know the owner had a minimum he would accept- I spoke to him when it was a FSBO. He later listed with an agent with a range lower that what I know he wanted. I suspect he turned down some offers, because a few weeks later, the low end of the range was back up to the minimum he wanted.

The poor agent was holding open houses almost every weekend. Sure enough, no acceptable offers came in and the listing expired. Appears the house is now rented.

Its no different than home
Submitted by kicksavedave on August 9, 2007 - 3:30pm.

Its no different than home builders who tell you every single week that their "incentives are only good til this weekend." And then they tell you they were "extended" once again... every week. One builder even told me that the model we really liked was "not profitable to build, and even though everyone loves it, we're going to stop selling it in two weeks" (rather than raise the price while people are actually still buying it. Talk about superficial sales tactics:p

Techniques by desperate sellers often look ridiculous to the rest of us.

Ever see a 13-yr old
Submitted by Bugs on August 9, 2007 - 3:39pm.

Ever see a 13-yr old smoking? They think it makes them look more adult, but really it just reinforces how foolish it is to try and fool other people.