Todd,
From my viewpoint, there is a positive aspect to these people trying to sell them home for more than the market supports....
Bascially, when a home is significally overprice, it really isn't "on the market" at all! And therefore, it reduces the competition for people that are properly pricing their homes according to market conditions.
So in reality since some many homes are listed at above market prices, the "real inventory of sellable homes" is much less that what your top-line listing data suggests.
Ken I see your point, but the problem is perception.
Our perception, sellers perception, buyers perception... we all have a different perception.
We (the professional real estate folks) are supposed to be guiding our clients towards the market, but looking at the data in the MLS... we aren't doing that it seems.
Of course that leads to another perception that is mostly negative about our profession. This is why I posted what Jay Thompson wrote on his blog. I agree with his words... and wish more and more of us in the business started doing the same things.
Todd,
As Realtors, we simply advise clients. In the end, the client decides for themselves regarding the listing and final sales price.
If clients ask questions but don't listen to the answers, there is nothing else we can do. Besides rejecting the listing.
Yeah, it is kind of funny to me how realtors get beat up most of the time. We make too much money...we didn't market the home enough....we listed it too low....etc....
But in the end, the market is the market. No realtor can change market conditions.
If all Realtors handled the situation like Jay did, then there would be substantially less inventory on the market.
A lot of bad news about the market relates to housing inventory. If people would stop listing homes at prices that they are never going to get, then there would probably be less bad news.
It's also always nice to hear stories of Realtors who have the integrity to tell customers the truth.
Commenting by HaloScan
