While there are still a good number of homes on the Scottsdale market priced too high that does not necessaraly mean the agent has mispriced the home but rather it is often that the seller is not willing to accept the current market realities and has told the agent to list the home at the price he wants or risk not getting the listing. Often after a period of time, sometimes a year or more, the seller finally sees reality and lists the home at a price often times less than he could have originally sold the home for if he had listened to his agent to begin with. There seens to still be a good deal of Sellers who feel they will get what they want and damn the torpedoes, full speed ahead. Silly rabitt trix are for kids!
In fairness this is also a result of an industry where the agent and the Seller's and Buyer's interest are not always aligned. Many times I have heard that the seller or buyer were not comfortable the agent was truly looking out for their interest but rather trying to make a deal to get their commission. While I always try to adress this and point out a really good agent realizes they will make more money by always striving to look out for their clients interest first, after all this is a referral driven business. In the luxury market it is critical to establish this trust or the relationship will be tenuous at best and an agents reputation is their currency.
I think the fallout of this may be that it is confusing to potential buyer's and even when they do find a home priced at the then current market price, or even below market, they feel everything is over priced and they will either wait and risk the market rising or make an offer that is so low that the Seller will never accept and neither the buyer or seller gets what they want. http://www.premierazhomes.com/
Tuesday, March 9, 2010
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