I am surprised at all of the answers such as you can't buy an overvalued home. LOL what do you think has been going on for the past 5 years?
You Realtors need to be honest because no one can possibly know the value of any property right now with all of the foreclosures being held by the banks and not released. One thing for sure is whatever you pay right now is too much because the market will crash even more once all of the foreclosures hit. Also the market is badly overbuilt since about half the people who bought houses and lost them can no longer buy a house. Everyone seems to think there are going to be buyers out there for what is listed right now, but guess what..... your old buyer group no longer qualifies to get mortgages.
Be sure and low ball any offer you make and look at the average listing time for houses in the area you are looking in. If you are seeing 180+ days then the average seller is going to be very negotiable.

You can't purchase a home over valued. If you buyers agent works on your best interest higher comp values when you start taking out % and etc. over a few $1,000 dollar might equal few $200 - or + great myth.

Good luck and great question

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

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Kycatymoas,

It is clear you have trust issue with your current agent. I recommend you have an open discussion with him/her and if you feel there no way to work past this, then perhaps it is time to part ways and find another agent.

Partner with a Realtor and create a buying strategy and narrow your search which will save you time and money.

I have some great contacts in that area, please contact me via email or phone if you would like names.
Sincerely,

Chris Capps, Realtor
Residential Real Estate Specialist

cell 804.896.6945
office 804.740.1644 ext. 103
fax 804.545.7224
email chriscapps@oakstoneproperties.com
web http://www.chriscapps.com

“It's Time to Expect More From Your Realtor®”

Licensed in Virginia, with contacts across the country

I think you are dealing with the wrong agents if that is your feeling. In my experience agent worth their salt have a vested interest in getting accurate pricing on thier listings, which would mean accurate realistic comps, so they will actually sell. Keep in mind a Realtor loses money on every listing until it is sold, and you have the say if you accept the offers you recieve. Even if they list the house $25,000 over market value they would make an extra $750 or so, probably not worh listing it too high. Especially when you factor in all the indirect effects that a expired listing has to both the seller and the agent. If anything I think they would want lower not higher if they were that greedy. Anyway interview a couple agents before you decide on one, and have them each review a CMA with you on the maarket for your home, and their marketing plan to get your home sold. Don't "price" shop. At least that is my advice to you for what it is worth. Try this site out:

http://www.tysellshouses.com/lex-ky-market-report.asp

There are any number of websites that will be able to provide you with the information you are seeking including Trulia.

"Find a Home"
enter the address
click on "recently sold homes"

Be sure to carefull review this information and use property that is similar to your subject property.

Good luck
The Eckler Team

If a house is inflated by $10,000 that nets the realtor another $300 (on a co-op commission), many times split with their agency 50/50, so that's $150. After taxes, it's probably $100. If agents were selling their souls for an extra $100, you'd see nothing but full price offers with agents twisting their buyers arms to pay more.

Every agent who sells one of my listings works tirelessly to get that home for the lowest price they can for his /her buyer with no regard for what it might do to their "vested interest", as you call it. I see agents make concessions on their "pay" to make deals work and offer to be paid commission on the seller's net rather than the sales price if the seller is paying closing costs, pre-paids on behalf of the buyer. It would be nice to see the many, many ethical, honest realtors get the credit they deserve rather than be lumped as a whole and viewed as dishonest bottom feeders. I recently had a seller who was going to have to bring $58,000 to closing. Instead, I gave up 2/3 of my commission ($12,000) to help ease the pain. We aren't all bad guys. I hope you are able to find a realtor you will be able to trust. There are a lot of us out here. Good luck.

Unless a house has a variance on comps exceeding $100,000, it's really not financially worth it for a Realtor to use inflated comps. If you don't trust your Realtor, then you need another Realtor. Vested interest? A house is only worth what it's worth. The comps are the comps..... in black and white, they're not fabricated. A Realtor does not want to waste their time contracting a house that will not garner the price during the appraisal.

You should hire a REALTOR to act as your buyer's agent. They are then obligated to take care of your best interests regardless of the price of comps. The sale price of a house they help you purchase would not affect their commission enough to cause a good, ethical REALTOR to let you overpay. Find one who has the CRS designation and belongs to the REALTOR trade association. They tend to be very attentive to behaving in an ethical and professional manner.

Realtors will have the most accurate information. You could always research county records!