bostonbubble.com

[Brian C]

I read an interesting story about realtors not taking on clients that "want to lowball" or "price it like its 2005". I know this article is from LA but one of the realty groups in Boston area, recently treated me the same way.

http://www.latimes.com/classified/realestate/printedition/la-re-tactic28oct28,1,7316205,full.story?ctrack=1&cset=true

[admin]

Thanks for posting that.

I think there's a strong argument to be made that Realtors(R) are exasperating the stalemate in sales by reacting too slowly to changing market conditions. Buyer's agents who actively discourage people from low-balling are preventing price signals from reaching sellers and helping to keep the market in gridlock as a result. Imagine if most buyer's agents did take on clients interested in low-balling. Instead of getting no offers, sellers would get offers that they initially balk at, but after enough low offers they would eventually get the picture and reevaluate how strongly they really want to sell.

I don't see how this hostility to customers can last. The need for Realtors(R) used to be mostly due to their near monopoly on information (a.k.a., MLS). Now that the Internet is so widespread, that need only remains due to historical momentum and could be readily replaced, from a technical standpoint. This overt hostility to customers may be the catalyst that is needed.

Fortunately, not all agents are so counterproductive. Check out the other thread on useful buyer's agents.

- admin

[wolfcatcher]

Agents? They are a joke. I've been selling professionally for years in the corporate world and I have made a lot of money while remaining ethical so I know what goes into driving a close in terms of actually offering real solutions to real needs, justifying value, strong proposal drafting, negotiating and meeting material objections. I've never seen anybody selling residential real estate who was more than the momentary holder of the keys with some basic reading/math skills. Seriously, 6.5% for what? Taking out an advertisement some place? A person buys, or doesn't buy, a home based on how much THEY like the specific property. The "agent" is less then 1% and, if more, it is because they are lying about things and buyers don't do their due diligence.

All available data shows that vast majority of realtors make same money in good times or bad. Since up markets bring in more people to the "profession" each one makes proportionately fewer sales. It works that way because they are all interchangeable, and no one has any advantage over any other; they are what economists term a fungible commodity. Honestly, a friggin' house cat could be on the porch with the key on its collar when the buyer gets there. If the buyer likes the unit, has the income and the place passes inspection and the cat would deserve and should get full credit for the "sale."

Let the agents starve , hell, let them go get real jobs that require some selling skills (then they really will starve). This market is still way, Way WAY too high. I'm not looking for a house but my advice is that (unless you MUST by for a solid reason like a change in job) sit this out as long as you can. Boston buyers really should unite and sit on their hands for twelve solid months or as long as it takes for sellers to figure out that their paper gains were totally undeserved and that the invisible hand will only spank their asses harder as they wait with their absurd asking prices going month after month without any takers.

Any realtors who read this and dislike the truth herein, shut up ahead of time. 99% of you will be doing something else inside of twelve months anyway.

[Guest]

Agents might sell property in phony places like LA (los angeles)
and Vegas , and perhaps in a few Resort areas ,
but here in New England , the property sells itself .

Staging and decluttering can help sell a property ,
and yes, curb appeal helps .
but you dont need to pay 5% to learn how
to stage and declutter .