Buying Agents Shunning Empowered Buyers?

[jimklinge]

Rustico – I read here more than I comment. Adam is a great contributor and he deserves the credit, and any business that might come from it. He even helped me sell a house that closed last week, so I owe him a beer or three. Want to come along?

Jim the Realtor

[NotCranky]

Thanks Jim, you guys enjoy.
Must have been a tough escrow. I can’t give my supervising broker enough credit for helping out in the tough times. A friend of mine in Argentina says, “cada venta es come un parto”,which means every escrow is like giving birth. Women might say that’s a stretch(no pun intended) but I think you can probably relate.

I also enjoy the presentations on your blog as well. Can’t recall specifics right now. I have noticed that you have put some pretty interesting presentations together.

[NotCranky]

Thanks Jim, you guys enjoy.
Must have been a tough escrow. I can’t give my supervising broker enough credit for helping out in the tough times. A friend of mine in Argentina says, “cada venta es come un parto”,which means every escrow is like giving birth. Women might say that’s a stretch(no pun intended) but I think you can probably relate.

I also enjoy the presentations on your blog as well. Can’t recall specifics right now. I have noticed that you have put some pretty interesting presentations together.

[NotCranky]

Thanks Jim, you guys enjoy.
Must have been a tough escrow. I can’t give my supervising broker enough credit for helping out in the tough times. A friend of mine in Argentina says, “cada venta es come un parto”,which means every escrow is like giving birth. Women might say that’s a stretch(no pun intended) but I think you can probably relate.

I also enjoy the presentations on your blog as well. Can’t recall specifics right now. I have noticed that you have put some pretty interesting presentations together.

[NotCranky]

Thanks Jim, you guys enjoy.
Must have been a tough escrow. I can’t give my supervising broker enough credit for helping out in the tough times. A friend of mine in Argentina says, “cada venta es come un parto”,which means every escrow is like giving birth. Women might say that’s a stretch(no pun intended) but I think you can probably relate.

I also enjoy the presentations on your blog as well. Can’t recall specifics right now. I have noticed that you have put some pretty interesting presentations together.

[NotCranky]

Thanks Jim, you guys enjoy.
Must have been a tough escrow. I can’t give my supervising broker enough credit for helping out in the tough times. A friend of mine in Argentina says, “cada venta es come un parto”,which means every escrow is like giving birth. Women might say that’s a stretch(no pun intended) but I think you can probably relate.

I also enjoy the presentations on your blog as well. Can’t recall specifics right now. I have noticed that you have put some pretty interesting presentations together.

[CA renter]

FWIW, we sold a house this past summer for 30% off peak price. It was paid-off, and we needed to sell it to settle the estate.

Our realtor wanted to list it at a particular price, even though I wanted to list lower. After a couple of days, I had her drop the price $40,000 — very much against her advice — and had a couple of offers within two weeks or so. Final sale was another $20K off our VERY LOW final list price.

At the time, there were two other houses in the area listed around the price our realtor originally listed at. I believe one of them is still there, and has been listed at our “low” price for many months. I think the other one was expired or withdrawn, but not sure. Another house is now listed across the street from the one we sold for $35,000 less than what we sold it for (we sold for about 2003 price — by far the lowest the n’hood had seen in YEARS), and it has a pool, bigger yard, extra bedroom and is larger.

Point is, there are some sellers out there who can very well sell for 25% off (or LESS than!!!) the peak or list price. All a buyer has to do is find those sellers. That’s where the comps will be coming from.

Sellers are delusional, and will chase the market all the way down. Realtors who aren’t honest with them about what’s happening in the market are doing their clients a disservice. These same realtors are shooting themselves in the foot, as qualified buyers are becoming more and more scarce. Buyers don’t give a da*n about a realtor’s ego, and if realtors can’t do their jobs, then buyers will start going through attorneys, who don’t have any conflict of interest (they aren’t offended by lowballs, and couldn’t care less if other agents “like them” or not).

[CA renter]

FWIW, we sold a house this past summer for 30% off peak price. It was paid-off, and we needed to sell it to settle the estate.

Our realtor wanted to list it at a particular price, even though I wanted to list lower. After a couple of days, I had her drop the price $40,000 — very much against her advice — and had a couple of offers within two weeks or so. Final sale was another $20K off our VERY LOW final list price.

At the time, there were two other houses in the area listed around the price our realtor originally listed at. I believe one of them is still there, and has been listed at our “low” price for many months. I think the other one was expired or withdrawn, but not sure. Another house is now listed across the street from the one we sold for $35,000 less than what we sold it for (we sold for about 2003 price — by far the lowest the n’hood had seen in YEARS), and it has a pool, bigger yard, extra bedroom and is larger.

Point is, there are some sellers out there who can very well sell for 25% off (or LESS than!!!) the peak or list price. All a buyer has to do is find those sellers. That’s where the comps will be coming from.

Sellers are delusional, and will chase the market all the way down. Realtors who aren’t honest with them about what’s happening in the market are doing their clients a disservice. These same realtors are shooting themselves in the foot, as qualified buyers are becoming more and more scarce. Buyers don’t give a da*n about a realtor’s ego, and if realtors can’t do their jobs, then buyers will start going through attorneys, who don’t have any conflict of interest (they aren’t offended by lowballs, and couldn’t care less if other agents “like them” or not).

[CA renter]

FWIW, we sold a house this past summer for 30% off peak price. It was paid-off, and we needed to sell it to settle the estate.

Our realtor wanted to list it at a particular price, even though I wanted to list lower. After a couple of days, I had her drop the price $40,000 — very much against her advice — and had a couple of offers within two weeks or so. Final sale was another $20K off our VERY LOW final list price.

At the time, there were two other houses in the area listed around the price our realtor originally listed at. I believe one of them is still there, and has been listed at our “low” price for many months. I think the other one was expired or withdrawn, but not sure. Another house is now listed across the street from the one we sold for $35,000 less than what we sold it for (we sold for about 2003 price — by far the lowest the n’hood had seen in YEARS), and it has a pool, bigger yard, extra bedroom and is larger.

Point is, there are some sellers out there who can very well sell for 25% off (or LESS than!!!) the peak or list price. All a buyer has to do is find those sellers. That’s where the comps will be coming from.

Sellers are delusional, and will chase the market all the way down. Realtors who aren’t honest with them about what’s happening in the market are doing their clients a disservice. These same realtors are shooting themselves in the foot, as qualified buyers are becoming more and more scarce. Buyers don’t give a da*n about a realtor’s ego, and if realtors can’t do their jobs, then buyers will start going through attorneys, who don’t have any conflict of interest (they aren’t offended by lowballs, and couldn’t care less if other agents “like them” or not).

[CA renter]

FWIW, we sold a house this past summer for 30% off peak price. It was paid-off, and we needed to sell it to settle the estate.

Our realtor wanted to list it at a particular price, even though I wanted to list lower. After a couple of days, I had her drop the price $40,000 — very much against her advice — and had a couple of offers within two weeks or so. Final sale was another $20K off our VERY LOW final list price.

At the time, there were two other houses in the area listed around the price our realtor originally listed at. I believe one of them is still there, and has been listed at our “low” price for many months. I think the other one was expired or withdrawn, but not sure. Another house is now listed across the street from the one we sold for $35,000 less than what we sold it for (we sold for about 2003 price — by far the lowest the n’hood had seen in YEARS), and it has a pool, bigger yard, extra bedroom and is larger.

Point is, there are some sellers out there who can very well sell for 25% off (or LESS than!!!) the peak or list price. All a buyer has to do is find those sellers. That’s where the comps will be coming from.

Sellers are delusional, and will chase the market all the way down. Realtors who aren’t honest with them about what’s happening in the market are doing their clients a disservice. These same realtors are shooting themselves in the foot, as qualified buyers are becoming more and more scarce. Buyers don’t give a da*n about a realtor’s ego, and if realtors can’t do their jobs, then buyers will start going through attorneys, who don’t have any conflict of interest (they aren’t offended by lowballs, and couldn’t care less if other agents “like them” or not).

[CA renter]

FWIW, we sold a house this past summer for 30% off peak price. It was paid-off, and we needed to sell it to settle the estate.

Our realtor wanted to list it at a particular price, even though I wanted to list lower. After a couple of days, I had her drop the price $40,000 — very much against her advice — and had a couple of offers within two weeks or so. Final sale was another $20K off our VERY LOW final list price.

At the time, there were two other houses in the area listed around the price our realtor originally listed at. I believe one of them is still there, and has been listed at our “low” price for many months. I think the other one was expired or withdrawn, but not sure. Another house is now listed across the street from the one we sold for $35,000 less than what we sold it for (we sold for about 2003 price — by far the lowest the n’hood had seen in YEARS), and it has a pool, bigger yard, extra bedroom and is larger.

Point is, there are some sellers out there who can very well sell for 25% off (or LESS than!!!) the peak or list price. All a buyer has to do is find those sellers. That’s where the comps will be coming from.

Sellers are delusional, and will chase the market all the way down. Realtors who aren’t honest with them about what’s happening in the market are doing their clients a disservice. These same realtors are shooting themselves in the foot, as qualified buyers are becoming more and more scarce. Buyers don’t give a da*n about a realtor’s ego, and if realtors can’t do their jobs, then buyers will start going through attorneys, who don’t have any conflict of interest (they aren’t offended by lowballs, and couldn’t care less if other agents “like them” or not).

[SD Realtor]

sd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…

Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.

This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.

Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.

Hang in there sd-maybe.

SD Realtor

ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.

[SD Realtor]

sd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…

Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.

This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.

Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.

Hang in there sd-maybe.

SD Realtor

ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.

[SD Realtor]

sd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…

Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.

This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.

Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.

Hang in there sd-maybe.

SD Realtor

ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.

[SD Realtor]

sd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…

Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.

This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.

Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.

Hang in there sd-maybe.

SD Realtor

ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.

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