Sunday, April 02, 2006

Who do you blame when your listed property doesn't sell?

The answer is easy, but not for the reason you might think. Sometimes I blame the seller for this reason. Sellers only care about one thing, "how much money am I going to make". Often times sellers unjustly use this normal desire to decide who they list their northern Michigan real estate with. If one agent says your home is worth $50,000 while another says it's worth $75,000, who are you going to list with? Obvisously most folks go with the higher figure. This leads to an overpriced market with too many listings. Assusming the home does not sell, I blame the irresponsible real estate agent for this common malpractice. They told you a high figure just to make you happy (for the short-term). What this has done has caused you to put off your life for another year because your home did not sell. It gets worse. You just spend a ton of money on taxes, upkeep and interest on the loan as well over the course of the year. So now you need to sell the home for at least $55,000 just to get the $50,000 the professional realtor suggested in the first place. It is a slippery slope commonly seen with new and unsuccessful northern Michigan Realtors. If a real estate agent turns down your listing, suck up your pride and list with them. Chances are they know what they are very good at their job.

So, who do you blame for your listed property not selling? Now that you've read this, you should blame yourself.

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