- This topic has 25 replies, 5 voices, and was last updated 14 years, 5 months ago by
UCGal.
-
AuthorPosts
-
September 2, 2010 at 9:24 AM #17905September 2, 2010 at 10:36 AM #599373
jficquette
ParticipantGuess he assumes 4.5% will last forever. Try how much lower they need to go with rates at 6.5%
September 2, 2010 at 10:36 AM #599466jficquette
ParticipantGuess he assumes 4.5% will last forever. Try how much lower they need to go with rates at 6.5%
September 2, 2010 at 10:36 AM #600436jficquette
ParticipantGuess he assumes 4.5% will last forever. Try how much lower they need to go with rates at 6.5%
September 2, 2010 at 10:36 AM #600117jficquette
ParticipantGuess he assumes 4.5% will last forever. Try how much lower they need to go with rates at 6.5%
September 2, 2010 at 10:36 AM #600011jficquette
ParticipantGuess he assumes 4.5% will last forever. Try how much lower they need to go with rates at 6.5%
September 2, 2010 at 12:58 PM #599468bearishgurl
ParticipantThe reason for the RE sales industry blame here is that listing agents are taking a listing KNOWING they will have to overprice it from the get-go, to appease their seller-clients, in HOPES that their clients will EVENTUALLY be motivated enough to lower the price in order for it to sell.
The best time to get an acceptable offer is when the listing is brand new, because often there is a buyer waiting for a same or similar property in that location to come on the market. After it has been reduced one or more times, the listing could become stale and/or less desirable in the eyes of buyers.
IMHO, listing agents should have the “Come to J@s*s” conversation with their seller-clients at the time of taking the listing about their property’s true worth to potential buyers. Most listing agents won’t do this for fear of alienating the seller and losing the listing.
But “moving sideways” in a stagnant market isn’t doing anybody any favors – it just wastes everyone’s time.
I understand it’s sometimes hard to tell what the final selling price will be in a falling market. In that case, often a VRM is used just to invite negotiation. However, this still leads a potential buyer to believe that the seller(s) won’t “entertain” any offers below the VRM.
I DO believe the overpriced inventory currently languishing on the market is the fault of the sellers. Other than having their sign in the yard (doesn’t impress anyone unless it sells), I often wonder why listing agents would bother with recalcitrant sellers who won’t lower their asking price to the market and because of that, there is no activity on the listing. It all boils down to seller motivation and secondary to that, their agent’s insistence on pricing the property for the current market conditions.
I’m speaking here of sellers WHO CAN lower their prices enough to sell. The vast multitude of sellers who must sell short should work these problems out with their lender PRIOR to marketing their property, so it is priced correctly out of the gate.
September 2, 2010 at 12:58 PM #600531bearishgurl
ParticipantThe reason for the RE sales industry blame here is that listing agents are taking a listing KNOWING they will have to overprice it from the get-go, to appease their seller-clients, in HOPES that their clients will EVENTUALLY be motivated enough to lower the price in order for it to sell.
The best time to get an acceptable offer is when the listing is brand new, because often there is a buyer waiting for a same or similar property in that location to come on the market. After it has been reduced one or more times, the listing could become stale and/or less desirable in the eyes of buyers.
IMHO, listing agents should have the “Come to J@s*s” conversation with their seller-clients at the time of taking the listing about their property’s true worth to potential buyers. Most listing agents won’t do this for fear of alienating the seller and losing the listing.
But “moving sideways” in a stagnant market isn’t doing anybody any favors – it just wastes everyone’s time.
I understand it’s sometimes hard to tell what the final selling price will be in a falling market. In that case, often a VRM is used just to invite negotiation. However, this still leads a potential buyer to believe that the seller(s) won’t “entertain” any offers below the VRM.
I DO believe the overpriced inventory currently languishing on the market is the fault of the sellers. Other than having their sign in the yard (doesn’t impress anyone unless it sells), I often wonder why listing agents would bother with recalcitrant sellers who won’t lower their asking price to the market and because of that, there is no activity on the listing. It all boils down to seller motivation and secondary to that, their agent’s insistence on pricing the property for the current market conditions.
I’m speaking here of sellers WHO CAN lower their prices enough to sell. The vast multitude of sellers who must sell short should work these problems out with their lender PRIOR to marketing their property, so it is priced correctly out of the gate.
September 2, 2010 at 12:58 PM #599561bearishgurl
ParticipantThe reason for the RE sales industry blame here is that listing agents are taking a listing KNOWING they will have to overprice it from the get-go, to appease their seller-clients, in HOPES that their clients will EVENTUALLY be motivated enough to lower the price in order for it to sell.
The best time to get an acceptable offer is when the listing is brand new, because often there is a buyer waiting for a same or similar property in that location to come on the market. After it has been reduced one or more times, the listing could become stale and/or less desirable in the eyes of buyers.
IMHO, listing agents should have the “Come to J@s*s” conversation with their seller-clients at the time of taking the listing about their property’s true worth to potential buyers. Most listing agents won’t do this for fear of alienating the seller and losing the listing.
But “moving sideways” in a stagnant market isn’t doing anybody any favors – it just wastes everyone’s time.
I understand it’s sometimes hard to tell what the final selling price will be in a falling market. In that case, often a VRM is used just to invite negotiation. However, this still leads a potential buyer to believe that the seller(s) won’t “entertain” any offers below the VRM.
I DO believe the overpriced inventory currently languishing on the market is the fault of the sellers. Other than having their sign in the yard (doesn’t impress anyone unless it sells), I often wonder why listing agents would bother with recalcitrant sellers who won’t lower their asking price to the market and because of that, there is no activity on the listing. It all boils down to seller motivation and secondary to that, their agent’s insistence on pricing the property for the current market conditions.
I’m speaking here of sellers WHO CAN lower their prices enough to sell. The vast multitude of sellers who must sell short should work these problems out with their lender PRIOR to marketing their property, so it is priced correctly out of the gate.
September 2, 2010 at 12:58 PM #600212bearishgurl
ParticipantThe reason for the RE sales industry blame here is that listing agents are taking a listing KNOWING they will have to overprice it from the get-go, to appease their seller-clients, in HOPES that their clients will EVENTUALLY be motivated enough to lower the price in order for it to sell.
The best time to get an acceptable offer is when the listing is brand new, because often there is a buyer waiting for a same or similar property in that location to come on the market. After it has been reduced one or more times, the listing could become stale and/or less desirable in the eyes of buyers.
IMHO, listing agents should have the “Come to J@s*s” conversation with their seller-clients at the time of taking the listing about their property’s true worth to potential buyers. Most listing agents won’t do this for fear of alienating the seller and losing the listing.
But “moving sideways” in a stagnant market isn’t doing anybody any favors – it just wastes everyone’s time.
I understand it’s sometimes hard to tell what the final selling price will be in a falling market. In that case, often a VRM is used just to invite negotiation. However, this still leads a potential buyer to believe that the seller(s) won’t “entertain” any offers below the VRM.
I DO believe the overpriced inventory currently languishing on the market is the fault of the sellers. Other than having their sign in the yard (doesn’t impress anyone unless it sells), I often wonder why listing agents would bother with recalcitrant sellers who won’t lower their asking price to the market and because of that, there is no activity on the listing. It all boils down to seller motivation and secondary to that, their agent’s insistence on pricing the property for the current market conditions.
I’m speaking here of sellers WHO CAN lower their prices enough to sell. The vast multitude of sellers who must sell short should work these problems out with their lender PRIOR to marketing their property, so it is priced correctly out of the gate.
September 2, 2010 at 12:58 PM #600106bearishgurl
ParticipantThe reason for the RE sales industry blame here is that listing agents are taking a listing KNOWING they will have to overprice it from the get-go, to appease their seller-clients, in HOPES that their clients will EVENTUALLY be motivated enough to lower the price in order for it to sell.
The best time to get an acceptable offer is when the listing is brand new, because often there is a buyer waiting for a same or similar property in that location to come on the market. After it has been reduced one or more times, the listing could become stale and/or less desirable in the eyes of buyers.
IMHO, listing agents should have the “Come to J@s*s” conversation with their seller-clients at the time of taking the listing about their property’s true worth to potential buyers. Most listing agents won’t do this for fear of alienating the seller and losing the listing.
But “moving sideways” in a stagnant market isn’t doing anybody any favors – it just wastes everyone’s time.
I understand it’s sometimes hard to tell what the final selling price will be in a falling market. In that case, often a VRM is used just to invite negotiation. However, this still leads a potential buyer to believe that the seller(s) won’t “entertain” any offers below the VRM.
I DO believe the overpriced inventory currently languishing on the market is the fault of the sellers. Other than having their sign in the yard (doesn’t impress anyone unless it sells), I often wonder why listing agents would bother with recalcitrant sellers who won’t lower their asking price to the market and because of that, there is no activity on the listing. It all boils down to seller motivation and secondary to that, their agent’s insistence on pricing the property for the current market conditions.
I’m speaking here of sellers WHO CAN lower their prices enough to sell. The vast multitude of sellers who must sell short should work these problems out with their lender PRIOR to marketing their property, so it is priced correctly out of the gate.
September 2, 2010 at 1:00 PM #600111Aecetia
ParticipantI concur.
September 2, 2010 at 1:00 PM #600536Aecetia
ParticipantI concur.
September 2, 2010 at 1:00 PM #600217Aecetia
ParticipantI concur.
September 2, 2010 at 1:00 PM #599566Aecetia
ParticipantI concur.
-
AuthorPosts
- You must be logged in to reply to this topic.