Question Details

The_Bayou, Other/Just Looking in Newton, MA

Is there a risk to listing a house in this market?

Asked by The_Bayou, Newton, MA Tue Apr 22, 2008

My understanding is that many of the Multiple Listing Sites (MLS) provide a property history which includes information on past attempts to sell the property, such as listing price and days on market. Because the records of your sales attempts are maintained and available to realtors on the MLS, is there a risk in putting your house on the market now unless you really need to sell? If the house does not sell and is removed from the market, I would not be surprised if agents use information from that attempted sale as a negotiating tactic on future sale attempts. Thoughts?

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You are correct most MLS sites for Agents do have a property history report detail available to them. Remember these sites and the information are only available to Agents. Buyers are only informed on this information through their Agents. MLS guidelines state this information should only be given out to their clients that they have under contract. for representation.
If you are planning on selling then you must evaluate your situation and determine if you want to sell or if you need to sell. If you want to sell save yourself the frustrations and listen to your home selling professional on the list price in this down shifting market. Everyday the market declines so the longer one holds the price the more dollars they lose in the end. Price the house where it will sell fast and there should be no concern for the days on market. There are Buyers out there and there number one motivation is price. Pricing accordingly may create an auction style bidding war creating a increase in sales price netting the Seller more on the bottom line.
0 votes Thank Flag Link Tue Apr 22, 2008
You're correct that many MLSs provide property history information about all homes placed on the MLS - AND that an astute agent representing their buyer to the best of their ability would utilize this information in a future negotiation. There is "risk" in all real estate transactions. It's about hiring a professional who will provide the seller with an honest evaluation based on the seller's particular needs and reasons for selling a particular property. The true value of a Realtor is found in their ability to mitigate the inherent risks associated with the transaction from pre-listing to post-closing. My professional opinion, given the current state of the market, is that if you don't "need to sell", why put your home on the market and yourself through the process?? Placing a home for sale is much more than puting a sign in the front yard and listing it in the MLS.
0 votes Thank Flag Link Tue Apr 22, 2008
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