tag:blogger.com,1999:blog-4797432599663441966.post8127555376679178686..comments2008-03-19T23:10:18.531-04:00FRANK LL0SA Va Broker- BLOG.FranklyRealty.comhttp://www.blogger.com/profile/12647085935682292923noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-4797432599663441966.post-45132998750133419482008-03-19T23:10:00.000-04:002008-03-19T23:10:00.000-04:00

Hey Justin,Were you using a Buyer's Agent? Then you were probably played.The chances that the agent wanted more, is next to zero. Non-Realtors think that the motivation in going after that last $10,000 is the few hundred dollar higher commission. That couldn't be further from the truth in 99.9% of the cases. Most Realtors would rather take the barely lower commission and get the deal done fast,

FRANK LL0SA Va Broker- BLOG.FranklyRealty.comhttp://www.blogger.com/profile/12647085935682292923noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-17519923600000692452008-03-19T22:48:00.000-04:002008-03-19T22:48:00.000-04:00

Buyers point of view here. I recently bought a $350K home in Harrisonburg for $50K below the original asking price. The story is simple, both seller & agent wanted top money -especially agent. After careful research (i.e. all houses sold in that neighborhood in previous months, previous price paid, etc.) inspection and appraisal, I offered $349.9K. Seller's agent said that would be "an insult"

Justinnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-79115872866917722052008-03-04T12:01:00.000-05:002008-03-04T12:01:00.000-05:00

Hey Pink!Actually you are confused. I do not have a listing in 1021 right now.See why you were confused:blog.franklyrealty.com/2007/01/mls.html orwww.tinyurl.com/2ex7vyIt explains how you can tell who the listing agent is.Or you can see it here:www.franklymls.com/AR6588810.htmlIf you ever do see a listing of mine that is overpriced, I would love to be called out on it.Frank

FRANK LL0SA Va Broker- BLOG.FranklyRealty.comhttp://www.blogger.com/profile/12647085935682292923noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-72826662225982669892008-03-04T11:46:00.000-05:002008-03-04T11:46:00.000-05:00

Aren't you the pot calling the kettle black? You have a 1 bedroom listing in Clarendon 1021 listed for $439K for the standard 750 square foot unit that is priced at least $20K above any other similar one bedroom in the building. Seems it has been sitting for a while.

Pink Polka Dothttp://www.blogger.com/profile/18122742308382240969noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-3308060444599393542008-02-28T14:40:00.000-05:002008-02-28T14:40:00.000-05:00

Awesome Blog. Just found it today from a Patrick.net post.

Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-87531255869519232322008-02-21T19:17:00.000-05:002008-02-21T19:17:00.000-05:00

Great blog Frank- So many people don't know the "real story" about short sales. I see one person rated it a 5 out of 5. It's nice that at least your mom, or girl friend reads it. Ha ha no really, I look forward to your comments. Next thing coming up is the new loan limits and we are waiting to find out the strings attached that may make these loans just as expensive as jumbo loans are now! Rumor

Kevin E. Connellynoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-37436965600974131992008-02-16T23:55:00.000-05:002008-02-16T23:55:00.000-05:00

I took 2 listings when I first started that were wayyyy upside down (consequently the buyers needed way too much to pay off the mortgage because of course they didn't have ten cents to bring to the table) - I kept thinking, well maybe if we get lucky - that was a big waste of time - and a tough way to learn a very good lesson. Now my attitude is, it's a waste of a good sign (not to mention

Beth I. Skinnerhttp://www.theskinnyonrealestate.comnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-73955632454917438402008-02-14T16:17:00.000-05:002008-02-14T16:17:00.000-05:00

Frank, this is a great illustration of information that public should have. Listing agents should go into listings ready to explain why a "professional" CMA may and usually will come in lower than someone who is desperate for a listing(why would you be desperate in this market?) Aside from the legal and ethical aspects of this practice of "buying" the listing, the agent is simply asking to get a

mrathbunhttp://profile.typekey.com/mrathbun/noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-544102083410812972008-02-13T22:13:00.000-05:002008-02-13T22:13:00.000-05:00

Frank, you are SO right! In this market you cannot overprice. Otherwise it sits, and then you have to drop the price, followed by lowball offers. Sellers only have the power in the first 2-3 weeks when current buyers in the market view the property. After that you are waiting on new buyers to enter the market. I turned down a listing whose Seller wanted to list at $720k when others were

Meganhttp://www.blogger.com/profile/15755099829181686929noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-73609662497389137322008-02-13T22:07:00.000-05:002008-02-13T22:07:00.000-05:00

Frank, you are SO right! In this market you cannot overprice. Otherwise it sits, and then you have to drop the price, followed by lowball offers. Sellers only have the power in the first 2-3 weeks when current buyers in the market view the property. After that you are waiting on new buyers to enter the market. I turned down a listing where the Seller wanted to price his place at $720k when

Meganhttp://www.blogger.com/profile/15755099829181686929noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-6498451368087917622008-02-13T16:28:00.000-05:002008-02-13T16:28:00.000-05:00

I'm going through that right now. A good neighbor--and a close friend--asked me to list their house. I came prepared with all the paperwork filled out (minus the price) and went through the house. I measured and made recommendations on things to do to make it show better. Then we sat down to do the paperwork. I asked him what he expected to sell the house for and he said "At least $200-225,000."

Erica Ramusnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-54278852422863720092008-02-12T23:38:00.000-05:002008-02-12T23:38:00.000-05:00

Well said. In addition, might i add that who are we to asume that the seller is wrong. Likely they are but who are we to deny the possibility of a higher sales price. I'm not talking about some insanely inflated price of $25,000+. More like $5,000. Not a huge amount but enough. Seems to me that all the research in the world doesn't explain some sales to our occasionally too analytical minds

Willwww.agentwill.comnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-74932008637799784422008-02-12T18:56:00.000-05:002008-02-12T18:56:00.000-05:00

Hey Kent,I see this frequently with newer or starving agents. A sign of a good agents is an agent that knows when to walk from a deal. Not just take anything and everything they can get their hand on. So the new agents have nothing better to do than take an overpriced listing and HOPE that maybe 30 or 50% of them close since SOMETHING is better than nothing!Frank

FRANK LL0SA Va Broker- BLOG.FranklyRealty.comhttp://www.blogger.com/profile/12647085935682292923noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-70630974383706048622008-02-12T18:55:00.002-05:002008-02-12T18:55:00.002-05:00

Frank, nice breakdown. Price should not be the only factor in choosing a listing agent, especially in this market. Thanks for sharing!All the best,Audrey

Audrey Hoffman, SimplyStagehttp://activerain.com/hoffmarknoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-34326177003752505322008-02-12T18:55:00.001-05:002008-02-12T18:55:00.001-05:00

I agree with you. I've lost several possible listings because I did not inflate the price. I am now waiting for the listings to expire so I can go back to them and ask them if they want to REALLY sell now.

Wendy Torreshttp://activerain.com/twendy26noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-74925311349369592902008-02-12T18:55:00.000-05:002008-02-12T18:55:00.000-05:00

I've never understood why anyone would try to "buy" a listing! Before I got into real estate, I always thought 2 things when I saw a For Sale sign that stayed and stayed and stayed:1. Seller wants too much2. Agent must not be very goodMy thoughts haven't changed a whole lot-but the reasons for #2 have been updated as to why!I've told sellers who wanted an unreasonable price for their property

Kent Simpson REALTOR®, e-Certified®, AHS®http://activerain.com/tksouthwestnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-38027435683958584972008-02-12T18:54:00.001-05:002008-02-12T18:54:00.001-05:00

You have an interesting approach to getting a listing, but thanks for making me aware of buying a listing as a trick i didnt know even know.

David Sotohttp://activerain.com/geteasyloannoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-74314035194015464502008-02-12T18:54:00.000-05:002008-02-12T18:54:00.000-05:00

Great Post! I typically walk from listings that I feel are doomed to overpricing from the beginning....but then I list them the day they expire!

Jason Gramshttp://activerain.com/jgramsnoreply@blogger.com