Magnus Roper

I'm a:	Home Seller
Location:	Chicago

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Why are some realtors so quick to reduce the sell price of a home just to make a quick sale? Don't they?

Asked Thu May 1 2008, 20:17 by Brock Starwo… - Chicago - Home Selling - 24 answers

Magnus Roper answered:

The incentive mechanism for real estate professionals is whacked. Think about it, if they sell your place at 100,000, they may make - $3,000 off the sale. If they price it at $110,000 - where you would make out incrementally by $10k, they make only an incremental $300 on the sale. The real estate professional thinks - why bother, price it lower and take the $3k, and move on. Real estate agents (who come and go as markets ebb and flow) are a dime a dozen. I've never met a 'good' real estate agent. But have met plenty with range rovers and bmw's who dance from property to property urging sellers to lower their price. A good agent would structure their compensation only after the seller has set a market price. (e.g. - price your home at $100k, then tell the broker they can keep 30% of anything they can get over this floor. That will motivate them to work the sale). - Fri May 2 2008, 19:08

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