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By: Dean Warren

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Wednesday, 4-May-2011 18:05 Email | Share | | Bookmark
Real Estate Agents - Are They Really Overpaid?

Welcome to my world. The rough and tumble bubble of real estate sales. I know there are a lot of folks out there who feel we are overpaid for our services, though, I'd love to walk you through a recent scenario, to hopefully shed a small light on what we really knowledge on an all too regular basis.
Customers have previously purchased their new home, out of province, (no pay day here) and the sale is pending the sale of their existing home. The market is strong, so even though they are under the gun to sell, human nature takes its toll and they go on the market $15,000 higher than my suggested asking price, confident the market will support the price. Never mind the circumstances, the fact they need to get a serious purchaser previous to they are able to close on their new one. They are house presently on the market offers what theirs does. Within 24 hours they go live on the multiple listing service. Bring on the buyers.
Day two; first nervous call from seller. Not only has their neighbor checked out their listing and decides to list his own home, but he has a small more sense as well, and realizes that with a lower asking price, his home, which more than compares, will sell first. Seller is already putting the stress on. I suggest a reduced price to better compete, particularly since the new comparable listing is really superior to her own. A hard pill to swallow and one that most sellers will take individually.

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