Realtor Lowballing
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Realtor Lowballing (by RentsDue [MA]) Sep 10, 2021 7:55 AM
       Realtor Lowballing (by plenty [MO]) Sep 10, 2021 8:02 AM
       Realtor Lowballing (by WMH [NC]) Sep 10, 2021 8:54 AM
       Realtor Lowballing (by Richard [MI]) Sep 10, 2021 9:01 AM
       Realtor Lowballing (by Allym [NJ]) Sep 10, 2021 10:51 AM
       Realtor Lowballing (by Robert J [CA]) Sep 10, 2021 11:35 AM
       Realtor Lowballing (by TenantWhisperer [MA]) Sep 10, 2021 11:56 AM
       Realtor Lowballing (by PG [SC]) Sep 10, 2021 4:37 PM
       Realtor Lowballing (by Pmh [TX]) Sep 10, 2021 5:25 PM
       Realtor Lowballing (by #22 [MO]) Sep 11, 2021 12:04 AM
       Realtor Lowballing (by melinda [MD]) Sep 11, 2021 6:59 PM

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Realtor Lowballing (by RentsDue [MA]) Posted on: Sep 10, 2021 7:55 AM

Putting a new build on the market. High end home in a class A neighborhood. I had a few realtors come in ( to keep everyone honest). One realtor came in 200K lower than the others. He was using comps for much smaller houses in a C neighborhood. He must have though I was an idiot. Several homes on the same road as my build recently sold , a few are up for sale- he did not use any of them for comps. Iím assuming he wants to price it at 400K instead of 600K to get a quick sale? The others say price it at 575 and you will get over 600.


Realtor Lowballing (by plenty [MO]) Posted on: Sep 10, 2021 8:02 AM

He wanted to buy it himself.

Realtor Lowballing (by WMH [NC]) Posted on: Sep 10, 2021 8:54 AM

Or has a friend lined up. Pocket deal.

Realtor Lowballing (by Richard [MI]) Posted on: Sep 10, 2021 9:01 AM

I agree with Plenty.

He likely would have had a "friend" buy it and then flip it for a big profit.

People who run this scam do it all the time.

Why not look at his other listings and see if they are way under market? If so, make an offer on them and then you flip them for the profit?

If you don't want to do that, maybe turn him into the assn of realtors for breaking their rules (as if they will do anything!). In theory, they have a fiduciary duty to be honest and to get the best deal possible for the client/seller. In my experience, the idea that they do that is a joke and seldom followed. Many people get into being a real estate agent to get the underpriced deals and they often get unknowing sellers to put a lower price on a property. If anything is said, they reply they were trying to get the seller a fast sale. (Plausible denyability). They are very seldom held to account for this and sellers lose a fortune. You don't really think that they would do all the work to sell a place for a 1.5 percent commission do you. (typical commission splits are 6 percent of selling price with that 6 percent split between the listing broker and the selling broker, so 3 percent to each broker. Then the agent splits that 3 percent 50/50 with the broker, so the selling agent gets 1.5 percent. Then the selling agent has to pay for marketing, etc out of pocket. Also, a good portion of deals fall apart because of buyer problems. --24.180.xx.xx

Realtor Lowballing (by Allym [NJ]) Posted on: Sep 10, 2021 10:51 AM

Your cheapo realtor wanted to buy it himself and then sell it for the 200 more. After mom passed I had a realtor group do the valuation for her will. They used comp prices of current, unsold, homes so I would have ended up paying federal death tax. I had to get someone else as the properties should be valued at the sold cost prior to the day before death. I had to read a couple books on assessing properties to find that out. As it was, thanks to Pres. Bush death tax reduction I did not have to pay federal tax. This was right when Plousy, Dudd and Rot were giving 200 K mortgages to people with poor credit. So the bad guy used boarded up homes nearby for comps but they were all priced at $200K which is the situation that created so many "underwater" home values. --108.24.xx.xx

Realtor Lowballing (by Robert J [CA]) Posted on: Sep 10, 2021 11:35 AM

Sometimes you never can tell if a so called professional is either dishonest, stupid, incompetent or brilliant. But in your case, look up how long this realtor has been in business and their location of expertise. This is one tell...sign.

Realtor Lowballing (by TenantWhisperer [MA]) Posted on: Sep 10, 2021 11:56 AM

What Robert(CA) said + NEXT!

Realtor Lowballing (by PG [SC]) Posted on: Sep 10, 2021 4:37 PM

Good for you. You did your homework. I sold a house February of this year 20% higher than 3 realtors said I would get for it. I spent a lot of time looking at comps and the supply of houses in the area before I set the list price.

Two of them said I was lucky. One of them was a real low ball. I later found out he had a friend who was ready to move in.

If you trust someone you better CONFIRM it.

Realtor Lowballing (by Pmh [TX]) Posted on: Sep 10, 2021 5:25 PM

I have never used a realtor to sell a property. never will.

Realtor Lowballing (by #22 [MO]) Posted on: Sep 11, 2021 12:04 AM

I'd file a complaint at the state level. Should trigger a large investigation and would love to see the realtor's response.

Realtor Lowballing (by melinda [MD]) Posted on: Sep 11, 2021 6:59 PM

Sounds as if the realtor was inexperienced and/or not informed about the area.

Experienced relators can give a pretty accurate price if they are familiar with similar homes in the area.

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