Besides the fraud and deceit, I have a new story every day about how listing agents are undermining their own sales, to the detriment of their clients, the sellers – and usually caused by incompetance or inexperience. Some deals still close, with all parties bitter and pointing fingers, but others never happen.
Take the case where we made an offer that was about 4% below list price on a CV house, priced in the $800,000s. The listing agent waged her entire case on one sold comp, when there were several others that supported our price. Proud as she was, her counter came back at $4,000 below the list price, and we walked. Why? Listing agents who had two sales last year, and are mis-reading the market that badly aren’t open to being wrong about price – and sure enough, two months later the listing is still active, and no price reduction. My buyers will be closing escrow in the first week of May instead, getting a bigger, better house with state cheese on top.
If you are selling your house, select your listing agent very carefully – check their sales history so you know they can close a deal!
I forgot to mention on the video that the second house on Oak (the one who wanted $1.3 million in 2005) was a foreclosure when they bought it in 1994. Sales prioce was $177,000.
64% off of asking price from 5 years ago on Oak! LOL, totally delusional, but then again, 99% of sellers and buyers were delusional back in 2005.
anon, I won’t sully Jim’s blog with my response, but rest assured it would do a teamster proud.
anon,
Don’t worry others feel the same way. But, it’s an earned generalization.
I hesitate to say anything here regarding the comment about women realtors, but I just have to:
Guys, seriously, there are smart, intelligent, and ethical women realtors who can do their job well and serve their clients. Making a sweeping generalization like the one above is just beneath us and lessens us all. Maybe folks here have only run into women that have not been the best, but certainly there are male realtors who are also clueless.
I’m not trying to be the PC police here on the board, but when I think about the all of our wives, mothers, sisters, and daughters (some of whom might have just scored a 2210 on the SAT) I do feel the need to say that feelings expressed above are not universal.
Jim – do you accept nominations/suggestions for your F-tours. I’ve got one forclosure in particular I’m following for personal reasons… So far it’s been postponed twice. Bought at the peak in 12/05 in 92008 for 1.2M. Loan too large for HAMP. I’d give it low odds of the owners coming out of it.
There’s low IQ men and low IQ women. There’s low IQ cowards that post as anon. Shadash ratings just plummeted but at least he had the cojones to use his screen name.
JtR, you don’t normally have such trash talking on your site. Personally, I’d delete posts that offend half of your buyers.
The listing agent that sold my house a while back was a woman. She was totally into the market, sales numbers, etc. So anon, I’m sorry but I don’t know what you’re saying to be generally true. I don’t want to dismiss your personal experience, but I’d argue that extrapolating it to a general conclusion is not valid.
troll alert! I’d vote for banning
My guess is that anon is a troll, so please don’t feed the troll.
Lol.
The internet is serious business.
jordan i completely agree, especially when they are so boring and unoriginal.
Back to Jim’s post. I find myself thinking more about the seller. It’s always amazing to watch who people choose to hire. Dysfunction usually chooses dysfunction.
OK, I’m back – and as Rome would say, you’re blocked. Come on man, can’t you be any more delicate with your anonymous thoughts? You make all realtors look bad when you’re taking pot shots like that.
For those who come after, I deleted this guy’s blasts on women realtors, and then the SoCal market in general.
http://www.sdlookup.com/MLS-100014021-6225_Paseo_Alta_Rico_Carlsbad_CA_92009
15% off of Spring 2002 price in Carlsbad. Adding landscaping to the 1999 price I would say this is probably a 2000 price.
Carlsbad is your oyster if you are looking to spend around a million.
Jim,
I’m a bit confused. What about the owners of the house you were describing? Didn’t they have a say as to whether or not they accepted the offer? It almost sounded like the agent was making the decisions for the owners.
Thanks in advance!
Adam
It brings up a good point that realtors are a lightly regulated group. There are good, bad and an astonishing number of part-time agents around SD. JtR is right when he writes about the closing numbers. Otherwise, you’re stuck on a ship with no motor.
As for find a good Realtor, I now apply a rule Jim mentioned a few years ago.
Ask your prospective agents (buyer or seller representation) for an MLS printout the homes they sold in your target market in the last 12 months.
Compare the the top producers and start interviewing.
I’m trying to imagine my bank calling me and offering me some kind of deal on my iffy mortgage. My visceral response would be that if the bank is offering it to me, it can’t possibly be a good deal. Sort of like insurance in blackjack.
Unrelated, but I can’t help it. I’m just so tired of seeing this. http://www.sdlookup.com/MLS-090059945-661_Pomona_Ave_Coronado_CA_92118
Coronado house with zestimate over 1 million, but it just sold (short sale) for 700K. Hmmmm. Listing and selling brokerage is the same.
How many realtors forgot that “negotiation” was a part of their job as a result of the bubble? Sheesh.
BTW, Jim, how did that nice 3Ksf place at 5:45 slip past your courthouse steps program?