Was one of these two “potential buyers” by any chance “represented” by your agent? 
Would you like me to go to the next open house and shake my head sadly and mutter about how overpriced the house is? 
I’m crossing my fingers that there aren’t any more Open Houses. At some point it’s kind of stupid to keep having Open Houses.
One of the things that the other listing agent (knotty pine house) does is constant Open Houses, two or three a week for months. He hires young kids to sit in the Houses or just leaves the door wide open. I’ve decided it’s just a marketing ploy to have his signs and face plastered all over the neighborhood.
Marilyn’s avatar is a wonderful advertisement for Point Loma…love it
Knotty Pine House
Well, crazy agent has done it again! This is the agent that keeps changing the price of the Knotty Pine house up in the Wooded Area of Point Loma. He took it off the market yesterday and came back out as a ‘new listing’ today at $950k, 65k over last asking price where he said ‘bring all offers’ and then proceeded to reject my offer.
Was the knotty pine one the one we think was hoping for a bidding war with a lower price…but got NO offers?
I don’t get it.
Yes, he ‘dropped’ his price back down to $895k thinking it would drive a bidding war. Listing says ‘bring all offers’. So someone brings an offer at asking price and he turns it down because it is ‘not high enough’. The whole bidding war theory is not working for him. I see that he tries that at other listings also. Sometimes it works for him.
CB - this guy sounds like an idiot!
Earlier this morningI saw the price had gone back and was :-/ :-/ :-/
There sure seems to be a cutthroat culture amongst the RE agents in SD. Has it always been this way, cb?
A lot of agents seem to have problems. Some just don’t want to be bothered with investors because we are ‘insulting’ their buyers or them. Because they convinced their Seller they could get X for the listing. They don’t want to bring an offer of Y to the buyer.
I can see this listing agent’s ploy. All of his advertising and mailings boast that he gets an average 97% of list price. That’s why he is always expiring his listings and bringing them out at a new price, instead of lowering the price on the existing listing. So, if he starts at $1 million but doesn’t sell for 60 days but finally sells for $850k, he can point to the listing at $850k and claim he sold in 10 days at 100% of asking price. Most people wouldn’t be any wiser. But, if these potential sellers looked at the listing history detail on Zillow or something they could find it. The internet provides good transparency nowadays.
Not allowed around here. ALL written offers must be given to the seller…and the seller makes the decision to say yes, no or counter offer.
An agent who lives in our neighborhood plays the relisting game in order to claim he sells his listings at 95%+ of the list price within 30 days. It’s amazing how few people have caught on to what cb wrote: “The internet provides good transparency nowadays.”
Recently, a house nearby was sold by this agent for 77% of the original list price (which was only 5% over what the owners paid) after nearly 18 months on the market. The sellers had done some dreadful things to the house, including installing the ugliest tile I’ve ever seen. Eventually, the agent staged the house using large sisal rugs to cover most of the tile floors. Contemporary furniture and art distracted from all of the bad remodeling/redecorating. The new photos were much better, as long as you didn’t look too closely. The listing was pulled and the price reduced yet again, then suddenly went “pending” as soon as it was relisted. Sold! within two weeks. ; )
If I was the seller I’d get rid of this agent asap. Have to wonder why the seller is going along with the agent after all this time.
Because the agent has convinced the knotty pine house owner that he can get top dollar for their inferior house.
But after all this time the seller has got to have figured out his agents strategy isn’t working.
There is no lack of dumb sellers… Especially if they are not in a hurry.
Interest and monthly carrying costs, including taxes and maintenance are apparently not an issue for some folks.
In a hot market like SD, it’s surprising these sellers are so loyal.
The Seller inherited the house, I think. The guy is a local developer ( not a flipper) who probably is trying to sell for top dollar while the market is hot. I think it’s been a rental for a long time. This guy has a big tract of empty land on the top of Pt Loma and he’s trying to get permission to develop 3 large homes on the land. Probably needs the cash for his development
The Fed is bumping up the rates by .25. There is now some uncertainty that they will follow up with another one in September.