Comment by BobbyTables2
19 hours ago
Given typical realtor behavior, I’m amazed any house is overpriced. Seems like they push sellers to sell below market and buyers to go above market.
I knew market prices well from doing my own property tax protests.
Our damn realtor strongly advised on a price close to $100k lower than we insisted.
House was in average condition and not recently updated. Said we were overpriced.
Multiple offers above closing on first day of listing.
Closing price was still significantly above asking.
Stupid damn realtor!
This is from a mismatch in incentives and is well known.
The agents maximize their income by getting lots of quick sales. The seller maximizes their profit by being prepared to wait.
https://en.wikipedia.org/wiki/Principal%E2%80%93agent_proble...