Hello Dan,
I agree with most everything you posted.I enjoy your posting in general in RE and OT.
Most buyers,especially of owner occupied homes do not shop in a manner consistent with increasing the possibility or getting a “crazy deal” relative to the market. Fortunately, some understand this and take responsibility for it.
I hate to know that so many agents are trying to show three and close, with any kind of BS they can come up with.
I do think that the agent should have or get his/her finger on the pulse of the market sufficient to understand offer price vs. asking price.I don’t expect the client to be responsible for this knowlege. It is usually a process I handle with kid gloves though, until my client comes up to speed, if they are not already. It is pretty hard to tell a client to write multiple offers, site unseen, or overbid on the first day out, even though sometimes, that might be what is necessary to accomplish their goals. It is hard to tell them that they are offering too much when they are already getting emotional. That one is tricky.
It is true though, that today, many more houses are over priced relative to what a buyer is going to be willing to pay and reductions are the norm.In my opinion it is an invitation to force the situation if my client wants a property that has some elements that make it vulnerable.Also, nothing wrong with taking the, very unscientific, “It can’t hurt to try” approach. It think it is good for client relations and the education process.
The element of specificity, that you point out is always true either on a particular properties or sub-markets.
