Idaho Real Estate >> ID Real Estate Specialist

head_left_image

The Silliest Realtor Game In Town

With the inventory of homes for sale increasing in many areas of the country a high number of Realtors and consumers are constantly looking at new ideas to compete with the competition of homes that are out there.

One of my recent buyers asked me to investigate a new town home she was very interested in.  I gave her a consumer MLS printout of the property and she was curious why the listing said "20" DOM or Days on the Market.   She went on to tell me that she was sure she had seen that very town home for sale a year earlier at a higher price.

With my curiosity up I decided to investigate the history of this listing and was totally shocked at what I saw.  The first listing went into the MLS almost 2 years to the day of the day I printed out the current MLS information.  The MLS showed 9 different listings on this property over those two years.  For 11 months in a row the Realtor cancelled the listing 4 different times and re-listed the property for the very same price.  Is this a good way to take care of a seller?

The reason Realtors are doing this of course is because they want the public to think the property has not been on the market long and make it look like a new listing.

Rather than look at this as "Smart Marketing" I think the practice borders on "Deception"

Because of this new found information my buyer made an offer much lower than she may have normally made and ended up purchasing the property for a considerable reduction from the last asking price.

In this case the Realtor shot himself in the foot and no favors were done for his seller.

Pricing a home properly to begin with and "Staging" the home inside and out is a much smarter and more professional move.

In addition, a good CMA and ABSORPTION RATES presented to the seller on a MONTHLY basis will detect any trends in the market and allow a seller to make adjustments accordingly. 

Just because a buyer finds a listing on the internet doesn't mean that they won't find out all the MLS history of a property.

I would rather wear a hat of professionalism than one of GAMES and take care of my clients the way a professional does.

Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes

Comment balloon 104 commentsGeorge Tallabas • August 22 2007 04:42PM
The Silliest Realtor Game In Town
share
With the inventory of homes for sale increasing in many areas of the country a high number of Realtors and consumers are constantly looking at new ideas to compete with the competition of homes that are out there. One of my recent buyers asked me to… more
Home Mortgages >> What You Are Rarely Told
share
Ever wonder what mortgage companies and other creditors want? Of course you do, we all do. They all want the same. They want you to: Finance your new home purchase with them Refinance your home and take advantage of your equity Buy your vacation… more
I need to build it so they will come
share
I have had the same template site for years and although it has made a decent return for me over the years I feel I can do better. I am going to have a custom site built down the road and have already spoken to a webmaster about it but for now I am… more
A Letter from Barb Schwarz
share
I recently wrote the post Barb Schwarz staging interview you must hear and I emailed a copy of my post to Barb. I was shocked today when I received this letter. I can't believe she would remember me from a conversation in the 90's! I was not… more
Sometimes all the seller needs is a BAD OFFER!
share
An elderly lady phoned me a about three months ago and asked if I would come and look at her home and give her an idea of what it was worth to sell. I had never met her before. She said she had heard of me for years and would like to hire me as… more
One Little Act of Kindness Can Grow Into Something BIG
share
I didn't have a lot of time today for lunch so I decided to make a mad dash to McDonald's because it is 5 minutes from my office. The only thing I will eat at McDonald's is a Fillet O' Fish sandwich! So I head out of my office parking lot and… more
My Open Letter to all Sellers
share
I'm sure you have read the newspapers and heard the news. Many areas of the country are experiencing a high number of homes on the market and in some areas inventories of homes on the market are at all-time highs. In some price ranges around the… more
My 300th Post >> Let it Rain For Karen George
share
When I joined ActiveRain I was like a lost puppy and had no idea what I was doing. I wandered around aimlessly having no idea what what was the proper thing to do and how to do it. Then I started reading more and more of Karen George's blogs:… more
Where Did My Localism Post Go?
share
About a week ago I wrote some blogs that I sent to Localism in Idaho. The following day I looked for them and looked for them but they were no where to be found. The next day I emailed ActiveRain Support and told them what happened and that I… more
My Open Letter To Realtors
share
I have been in the real estate business for over 27 years and have seen a lot of marketing ideas come and go but one I adamantly endorse is that of home staging. We place a lock box on our listings, place full color brochures, beautiful signs, ads… more