Wow, another wild week! We have had FOUR purchase agreements not go through this week because of listing agents misinforming a seller of a homes worth. How does this work? Oh yeah, Mr. and Mrs. Seller, you can list your home at whatever you want, it doesn't matter, we'll just go down on the price someday? And of course you can take this 25 year old home and compare it to the new construction with lot values of $100,000+. It's all the same Mr. and Mrs. Seller. Geeze Louise, give me a break!
The game I am seeing with listing agents is they are taking the listings, with NO guidance or recommendations to the seller, just to have a home listed. Now why are they doing this? To represent the Seller? OH NO! This method is ALL about representing the AGENTS pocketbook. They carry the listing forever (knowing it is overlisted) in order to pick up 20+ buyers that they put "somewhere else"! THAT is not representing a Seller folks!
I am absolutely amazed at what the buyer's agents have to deal with. Do we not, as brokers, have some sort of responsibility in training our agents on CMA's (Comparative Market Analysis')!? One of the first things that I do is get an agent trained on CMA's! And here's another thing "I" believe; my agents need to know how an appraisal works! IF they can get this, then they realize in a more detailed way what the CMA is used for and how it works.
How in the world can we as Realtors represent "anyone", buyer OR seller, if we don't know the basis of pulling comparables and guiding our clients in the right direction? Embarrassing to our community, that's what it is! And then we wonder why the public wants to treat up like used car salesmen?! Maybe because a large percentage of us act like a salesman, instead of a "professional" Realtor taking our jobs very serious?
Regina Harp, Broker
BloomingHouse Real Estate Group