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Unrealistic Sellers Face MLS De-Listing


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2006 Nov 9, 4:36am   17,109 views  255 comments

by HARM   ➕follow (0)   💰tip   ignore  

NAR gatekeeper

This anecdote was posted over at Ben's, and struck a chord. As high as inventory has already gotten in most places, I have to wonder if it would not be even higher if Realtorsâ„¢ weren't playing "gatekeeper" and flushing most of the unrealistic wishing price wanna-be sellers out of the MLSs.

Comment by EquityRefugee
2006-11-09 07:12:47
Our carpenter’s realtor-wife had 31 listings at the end of August. My husband asked ‘how’s it going’ and he replied that she told ALL of them that if they were not willing to lower their price she could no longer continue to list as the marketing/advertising costs were not going to bring in a sale. She now has 5 listings. Guess the rest will wait until spring to get their “price.”

~84% de-listing rate. Wow! Can't really blame her though. Who wants negative cash-flow on a non-performing listing? That would be as stupid as holding onto a negative cash-flow non-performing asset. :roll:

Has anyone else observed this phenomenon? Please share any stories or data. Discuss, enjoy...
HARM

#housing

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249   astrid   2006 Nov 10, 10:52am  

DinOR,

I'll keep that in mind when I'm in a warmer climate. Right now, it's Eurotrash techno (blah, IDM, if you will) with bits of postpunk mixed in.

250   astrid   2006 Nov 10, 10:56am  

darn,

It's almost nappy time, and I've only had one drink.

251   astrid   2006 Nov 10, 11:05am  

I was too old to go clubbing when I was 21...cigarette smoke makes me sick for a week afterwards.

252   DinOR   2006 Nov 10, 11:07am  

astrid,

No worries. Contrary to it's "pop" image Surf Guitar finds it's roots in Flamenco and is actually quite dark, mystical and definitely ( I'm reluctant to even say) of paegan influences. The very word "staccato" wasn't fully defined until the introduction of surf guitar several centuries after it's introduction.

253   Randy H   2006 Nov 10, 12:44pm  

TN (from quite a ways back),

I wonder if the HB’s coordinate their buybacks.

If they do so explicitly, it would be collusion and expressly illegal.

However, if they all send their CFOs and financial management to the same East Coast B-Schools, where they all read the same Dixit textbook on game theory, then they all know how to behave when one starts buying back.

254   astrid   2006 Nov 10, 1:13pm  

DinOR,

Intriguing. Maybe I should pick up a CD or two, at least on an obscure Flamenco band (still having trouble buying anything more popular than the Beatles...)

Randy,

Good point. I do wonder though, wouldn't the lack of diversity amongst the CFO population eventually lead to them committing the same mistake and going (metaphorically) extinct at the same time? Also, would two years of biz really be enough to permanently subsume human nature?

255   Sylvie   2006 Nov 12, 2:23am  

For as much as I used to bitch about the negatives (california) after a year and a hellish muggy summer down here I may return. One of things I did run into was a distrusting attitude from the locals here. Maybe it has something to do with the fact that I still have my california plates on my vehicle. There is little to do culturally almost no amenities aside from Charleston. It is a tad too slow and behind the times for a metropolitan like myself. This is my second foray in twenty in the south it is not a right fit for me affordability withstanding.

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