We keep hearing about price reductions, but it’s a miracle that the list pricing isn’t worse!
We’ve had a strong seller’s market for 10-12 years – would we recognize anything else, let alone know what to do with it?
There is no guidance or formula for buyers, sellers, and agents to determine the right price.
There are market signals, but who knows what to do with them?
When should price adjustments be made, and by how much?
The doom is heavy, and buyers are understandably nervous. How much is the skittish discount?
Yet some people suggest you should go it alone? Like this guy?
Get Good Help!
Marc Jelensperger is a director at Paris-based real estate firm Bientot Vendu. In his region, “99 percent of agents are seller agents, only 1 percent are buyers’ agents.”
“At the end of the day,” Jelensperger said, “most buyers in France do not get the help of an agent. Buyers, most of the time, are on their own.”
The resulting system is fairly different from what exists in the U.S. Among other things, Jelensperger said there is no significant multiple listing service in France. And real estate agents typically don’t collaborate with each other.
For consumers, it’s common to take a year or more to find a home. And during the search process, a would-be homebuyer might only see one house a day, or even one a week.
“If you are not good at negotiating, you don’t get it,” Jelensperger said of the buying experience. “But if you are good, you can maybe get a good deal.”
Jelensperger said this system persists because homebuyers don’t want to pay out of pocket for the help of a professional.
“I can say to someone, ‘I can help you negotiate and it will cost 5,000 Euros.’ Most people will say, ‘no,’” he explained. “At the end the day, most of them, they don’t want to pay for a service that they don’t value and where it’s not the habit.”
Tik Tok guy is confidently incorrect.
“Redfin and Zillow hate this guy for this one simple trick.”