Who decides what price to sell a property?
A few months ago buyers that I represented wrote an offer on a property that was listed for several months and the list price was around $225,000. I prepared a list of comparable sold properties for the buyers and the buyers felt that most comparable properties at that time sold for $190,000. Since they were paying cash, the buyers decided to offer about 3% less than the comparable sold properties.
The buyer's offer was rejected and the seller's agent presented a counter offer for $221,000. The buyers decided that the seller was not being reasonable and rejected the counter offer.
The listing has since expired. Yesterday I received a call from the homeowner, asking if the buyers that I had represented would consider re-submitting their offer. I explained that the buyers have since purchased another property.
The seller complained that the original listing agent did not explain the comparable sold homes, and stated that the listing agent insisted on the counter offer price.
Exactly who determines the sales price on the property?
Is it ethical for the listing agent to determine the price? Why or Why not?
Was it greed, arrogance or ignorance on the part of the listing agent?
Why would a listing agent not provide a seller with current sold prices?
Do you demand that a seller will sell the home at a specific price? Why or Why not?
Ken Meade Realty
Cell (602) 403-6865
Business (623) 937-5701
About The Author
Leolinda Bowers is an Associate Broker with Ken Meade Realty. She specializes in Arizona West Valley Retirement (55+) Communities. Leolinda has Bachelor of Science Degrees and a Masters Degree in Business Administration with Project Management concentration. In an organization of approximately 350 agents, she is a leading sales person who has an established sales experience in the current real estate market. Leolinda can assist you with the purchase and/or sale of real estate in the adult communities of Sun City Grand, Sun City West, Surprise or Sun City Arizona.
© 2010 Leolinda Bowers (Arizona Retirement Communities Sun City West & Sun City Grand Real Estate). Unless otherwise noted, the content, both pictures and written, is the property of Leolinda Bowers. Reproduction in part or whole without written permission from the publisher is prohibited.
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