I'm so confused, the listing price for home increases, while number of home sold drop tremendously. Who decides the listing price? We’re

Asked by Amokaphan, El Centro, CA Mon Sep 13, 2010

new to the market, and have contact a realtor…who tried to tell us this is the seller’s market, LOL! Really? Are you kidding me?

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6
Frederic Din, Agent, El Centro, CA
Fri Aug 24, 2012
Great question and some interesting answers.

We are currently in a Sellers Market as it has to do with the level of inventory available and not so much the number of buyers. Listing prices are determined by the seller and his/her REALTOR(r) may have some influence in the decision as they will provide comparable market data on home sales and listings in the area as they compare their home to the rest of the market in terms of location, desirability, size, and condition.

Want to know how to tell whether we are in a Buyers Market or a Sellers Market, check out my blog from earlier this year: http://blog.imperialvalleyreo.com/?p=1517

Let me know how I can help give you the right information, advice on how to get the home for the right price.

Sincerely,
Frederic Din
760-235-4885

http://imperialvalleyreo.com
http://blog.imperialvalleyreo.com
0 votes
Don Tepper, Agent, Burke, VA
Tue Sep 14, 2010
There are some areas (not many) that are seller's markets. But, like Julian and the others, I'd bet that you're in a buyer's market.

Still, no reason to be confused. Simply, the seller with advice from the listing agent (the seller's Realtor) decides the listing price.

Some sellers are unrealistic about what they think their house is worth. And some (not many, but some) agents "buy" listings. That means they'll tell the seller that the home is worth more than it actually is. So the seller hears two agents say the home is worth about $500,000. One agent comes in and says it's worth $550,000. The seller, who wants to get as much for the home as possible, lists it with that third agent at $550,000. Problem is, the house is only worth $500,000. So after two weeks, the agent suggests to the seller that they drop the price.

Before you settle on a Realtor, you should consider talking to 3 or more to get a more complete picture of the housing situation where you are, and to make a decision on which one you'd like representing you.

Hope that helps.
0 votes
Julian Drake…, Agent, Austin, TX
Tue Sep 14, 2010
Although RE is local, I'd be willing to bet most of Cali is a buyers market. People can list a house at whatever they want but all that means is it will sit on the market, get stale and if he has to sell he'll be chasing the market all the way down.
It's best to price ahead of the market.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Sep 14, 2010
Listing prices should be based on comps--recently sold similar properties in the immediate area; however, the ultimate number is decided by the seller.
0 votes
Desari Jabbar, Agent, Stone Mountain, GA
Mon Sep 13, 2010
In my opinion, this is a buyer's market. Meaning there are more homes than there are buyers in this market.


Best of luck to you!!
Web Reference:  http://www.DesariJabbar.com
0 votes
Patrick Thies, Agent, Anytown, IL
Mon Sep 13, 2010
I don't know anywhere in the country right now that is in a sellers market. A seller can list a house at whatever price they want, but prices should be relevant to what similar homes in the area are selling for.
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