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re: Strategies for buying a house USING the listing agent ....

Posted on 12/8/11 at 1:04 pm to
Posted by Shankopotomus
Social Distanced
Member since Feb 2009
21078 posts
Posted on 12/8/11 at 1:04 pm to
quote:

priced too high (i.e. bad listing agent)


now come on, you know an agent can present a perfectly good CMA to a seller and they will still demand to list at a higher price

sometimes, the property ends up over-listed based on client request (or demand)
Posted by VABuckeye
NOVA
Member since Dec 2007
38283 posts
Posted on 12/8/11 at 1:15 pm to
And sometimes there is simply more inventory than buyers no matter how well the property is priced.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 12/8/11 at 1:36 pm to
excellent points above. JT, lets lay off the cheap shots
This post was edited on 12/8/11 at 1:41 pm
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 12/8/11 at 1:59 pm to
quote:

now come on, you know an agent can present a perfectly good CMA to a seller and they will still demand to list at a higher price

sometimes, the property ends up over-listed based on client request (or demand)


Right, but ultimately that's on the agent. I call them listing whores. Literally, I see cases where the market is clearing at $X and a new listing will come on at 1.4X.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 12/8/11 at 2:00 pm to
quote:

And sometimes there is simply more inventory than buyers no matter how well the property is priced.


priced too high
Posted by VABuckeye
NOVA
Member since Dec 2007
38283 posts
Posted on 12/8/11 at 2:22 pm to
You're just jaded by that ridiculous real estate market that is the Boston suburbs.

Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 12/8/11 at 2:36 pm to
It's simple supply and demand.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 12/8/11 at 3:52 pm to
Maybe that 1.4 has a new job, has lost a job, has to free up capital for another venture, a divorice, and the list goes on and on. The more you post the more it is clear you only have a small grasp of knowledge in real estate.

Are you one of these guys that learns x amount of as many things as possible but never masters one endeavor? Not an insult just curious based on your post trends here and other boards
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 12/8/11 at 7:14 pm to
quote:

Maybe that 1.4 has a new job, has lost a job, has to free up capital for another venture, a divorice, and the list goes on and on. The more you post the more it is clear you only have a small grasp of knowledge in real estate.


lolwut

If the market is clearing at X, no rational player tries to sell same product at a 40% premium to that.

I have literally no idea what your point was. I don't question the fact that the seller wants to sell. We're talking about price, though.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 12/8/11 at 7:44 pm to
My point is every transaction in real estate has a unique circumstance, you are trying to loop everything together, that is not how real estate works.

I recently had a cash buyer who wanted a view of the Nashville skyline to write. Owner wanted 650k, it appraised at 575k, my buyer went see it, saw the view, and wrote a check for 650k.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 12/8/11 at 10:11 pm to
quote:

My point is every transaction in real estate has a unique circumstance, you are trying to loop everything together, that is not how real estate works.

I recently had a cash buyer who wanted a view of the Nashville skyline to write. Owner wanted 650k, it appraised at 575k, my buyer went see it, saw the view, and wrote a check for 650k.




THIS is your "special sauce" that prompted you to say this?

quote:

The more you post the more it is clear you only have a small grasp of knowledge in real estate. Are you one of these guys that learns x amount of as many things as possible but never masters one endeavor?


I love the way you guys have convinced yourselves that the simplest concepts possible are advanced rocket science that none of the rest of us non-agent dolts can understand.

I'm not trying to "loop everything together". I'm highly knowledgeable about virtually every house in my development and I've witnessed some astonishing listing behavior.

All your silly examples shows is how incompetent the appraisal industry is also. It also potentially identifies you as a lousy selling agent who didn't even try to get a lower price for your client.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 12/9/11 at 5:13 am to
You're right. I was unaware you were familiar with every house in your development. Good luck in all your endeavors.


Posted by Zilla
Member since Jul 2005
10643 posts
Posted on 12/9/11 at 7:37 am to
decided against that specific house...ultimately the past foundation problems (risk) was too much to overcome...pisses me off, thought I might actually get a half acre in the middle of a great baton rouge subdivision
Posted by Shankopotomus
Social Distanced
Member since Feb 2009
21078 posts
Posted on 12/9/11 at 8:57 am to
Well give me a call when you are ready to look at another one
















































j/k (that was for fizz and Jersey)
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 12/9/11 at 9:20 am to
I haven't said anything negative about realtors.
Posted by Shankopotomus
Social Distanced
Member since Feb 2009
21078 posts
Posted on 12/9/11 at 9:47 am to
no no i know that, it was just a half-assed joke about your comment to me yesterday about "disclosing" that I am a realtor or something to that effect

no hard feelings
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 12/9/11 at 10:01 am to
quote:

decided against that specific house...ultimately the past foundation problems (risk) was too much to overcome...pisses me off, thought I might actually get a half acre in the middle of a great baton rouge subdivision


rule #1: no emotional attachment. There's always something else.
Posted by Zilla
Member since Jul 2005
10643 posts
Posted on 12/9/11 at 12:55 pm to
quote:

rule #1: no emotional attachment.


yup, exactly why we let it go...
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 12/10/11 at 10:34 am to
I've never understood why one would pay two commissions to a dual agent.

This is not a 1 + 1 = 2 scenario. There is necessarily an enormous amount of synergy present when you're representing both sides of the transaction with respect to ONE property.

You don't have to take two sets of photos. You take one. Same with uploading to database, etc.

The agent is essentially benefitting from the synergy (lower costs) without passing ANY of those savings onto the parties.

Assuming 3% commission for each side is fair (for example's sake), you should be paying 4-5% max under a dual agency.
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