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  1. 02-23-2011, 09:06 AM #1
    cskMicro
    cskMicro is offline Fixer Upper
    Join Date
    Feb 2011
    Location
    Mallorca, Spain
    Posts
    27

    Default Is this happening in your Maket?

    Not sure if this applies where you are, but here we don't have many "exclusive" listings and everything is pretty much multi-agency so we can list the same properties.

    Anyway, speaking to an owner today and I just can't believe what I'm hearing especially considering the current market (or lack of it!!!).

    I know we have a moral obligation (and in certain legislations even legal obligation) to give fair market appraisals of properties but sometimes we also have to listen to what the owner wants for sure? The owner wants 650.000 euros for the property.

    The current agent has it listed at 995.000 euros!!! It is no wonder it is not selling as that might have been achievable 4 years ago but certainly not now. Yes, 650,000 is on the low side, but, if that's what he wants ...

    Why, I ask?

    Is it the easy route to get listings by giving exaggerated appraisals, or appraisals that the owners want to hear, not in line with reality. Or, are they trying to pocket the difference if they manage to get that price and yes, there are ways to and perfectly legal ones at that...

    Or, do they think, mistakenly, that the second home luxury market is unaffected and things remain the same as they were 4 years ago just because asking prices haven't dropped across the baord, which unfortunately they haven't - presumably because many agents / owners just don't want to face reality although it is true that very few need to sell with any urgency.

    Oh well, I'm going to put it on at 650,000 and sell it rather than sit with it on my books!!!
    Last edited by cskMicro; 02-23-2011 at 09:33 AM.
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  2. 10-13-2011, 11:01 PM #2
    thebuilderdepot
    thebuilderdepot is offline Banned
    Join Date
    Jul 2011
    Location
    United States
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    48

    Default Is this happening in your Maket?

    This is usually happen in the market so be aware from it.
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