Weird Things I See In The Boise Area MLS
I drilled into MLS yesterday to see what’s going on in Brookwood subdivision, where I live, in Eagle.
I am always fascinated by the behaviors and actions of sellers and listing agents when our market slows down.
Hang on, folks ~ you couldn’t make this stuff up if you tried!
For example, there’s one listing with a comment that says “Seller must not close escrow before 3/30/2007″.
Hmmmmmm . . . is that a clue that this home has been for sale for awhile?
Is that listing agent doing her seller any favors by not updating her listing comments?
That home has been on the market 220 days.
And, of the 25 homes for sale in Brookwood, 4 are incorrectly listed in Brookwood Estates.
Brookwood Estates is in Nampa; not in Eagle.
Even the greenest rookie agent could easily figure that out by looking at the comps before listing the property!
Anyone searching MLS for homes in Brookwood subdivision will never see those listings.
Helloooo . . . are you sellers paying attention to what your listing agent is doing?
And, you listing agents ~ ya think you could figure out which subdivision your listing is in and why it isn’t selling?
I wonder what the legal liability might be for a listing agent who isn’t diligent enough to list a home in the correct subdivision, if it ever got into the hands of a good attorney?
And, I’m guessing that the Idaho Real Estate Commission would fine those listing agents if they received a complaint about that, and they might even pull their real estate licenses for gross negligence.
But, the Realtors® Code of Ethics probably prevents me from ratting them out (by name, at least).
Yep, we have to protect our own, right?
It’s interesting to note that 2 of the 4 homes listed in the wrong subdivision are listed with discount brokers.
Yeah, I know ~ they’ll sell your home for $2,995 flat fee, right?
Wonder how much those sellers will save when their homes don’t sell?
Then, there’s the commission thing.
There are about 5,200 homes for sale in Ada County now and most of them offer a 3% selling agent commission.
In Brookwood, there are 2 listings offering a 2.5% commission.
I’m guessing the listing agents might have been trying to win this month’s listing contest and took those listing at 5%, split 50/50 with the selling agent, but I have no way of knowing.
How many showings do you think those sellers will see?
Then, there’s the home I mentioned above (the one that can’t close before last March) that’s offering a 4% selling agent commission after $40,000 of price reductions.
And, how about the home that’s listed by an owner/agent that says “lock box coming soon”.
Wonder if it might have been a good idea to have the lockbox installed when he listed it 33 days ago?
Realtors® often shy away from showing homes without lockboxes because they think the seller isn’t motivated, and it’s too much trouble to set an appointment.
No lockbox usually means no showings.
And, best of all, there’s a beautiful 4,876 sq. foot spec home by one of Brookwood’s best builders (he built my home too) that has been reduced from $1.2 million to $1,075,000 and offers a 6% commission to the selling agent.
How in the world would a selling agent explain to their buyer that they just happened to recommend a $1m+ home as they are about to collect a $64,500 commission at the closing table?
Sometimes I think I’ve been doing real estate too long.
August 30th, 2007 Posted in Uncategorized |
Print
| No Comments »
