The Friend Priced The Home!

I'm sure all of you have been there but I just have to laugh and wonder what people are thinking in today's market. An HOA property manager referred a potential client to me to either sell her house or to lease it for her. I contacted Mrs. Jones (name changed to protect the guilty) and offered my services. She lives in Florida but has a home in Surprise, Arizona.

We discussed the market and I told her I would do some comparables for her on both leasing and selling, which I did, and then called back the next day to give her the information. She had told me she had a friend that had put a for sale sign and for lease sign in the yard for them. I drove by to see the home and sure enough the two signs were in the yard.

I gave Mrs. Jones the price I know the home should be listed for; $245,000 and she gasp and said, my friend has had 5 people inquire about the home and he has told them the price is $290,000 and they are interested. Your price is so much lower than the market 2 years ago. (Ya think????) She informed me that her friend isn't a Realtor nor does he have any property management experience or qualifications.

I was informed that she was going to go with her friends advice, even after I painstakingly explained the difference between a qualified professional and a neighbor with no experience. I told her that a home WITH a pool and virtually identical to her home in her neighborhood was listed at $259,900 and had been on the market for over a year.

Apparently, the "free" neighbor with no experience is a better deal than a licensed professional who deals in this market and area every day. I told her good luck and I would be tracking her results, which I definitely will. I don't know why but I still get amazed and people and their stupidity. I do expect a call in three or four months from Florida and I will be laughing at that time too.

It pays to go with a professional Realtor!