It's amazing how many times as real estate agents we run into this type of scenario. It seems to be a common subject of blog posts across the board. Well, it happened to me again this past week. I noticed a new listing that came onto the market in a subdivision that I keep a real close eye on that was priced substantially under market. I had a feeling that it might need a little bit of work, as it was being offered "As-Is" and was disclosed that it was approved for a short-sale. My wife and I haven't really been looking for a new home, but, you know how it goes, if something presents itself as a real good value, then we would certainly entertain the idea. Well, this one presented itself, so we talked about it for a few days, and before we had even made the decision to at least look at the home, the owners reduced the price by $25,000. In my opinion the home was already priced approximately $20,000 - $30,000 under market value, and now after the price reduction is approximately $45,000 - $50,000 under value. So with that, my wife and I decided that we'd at least go and take a look at it to see just how bad it was.
It was a Wednesday when I made the first call to the listing agent. She didn't answer, so I left a voice mail indicating that I would like to take a look at the home. I would have expected a phone call back fairly quickly, but that didn't happen. I didn't hear back from the agent all day. I then called again on Thursday morning and to my surprise, the agent answered the phone. I set up an appointment for that afternoon to look at the house. My wife and I met at the house and opened the lockbox to retrieve the key, to find an empty lockbox! I can already tell that the house is in need of a some cosmetic clean up and repair, but am not able to get into the home to see what kind of condition the inside is in. I call the listing agent while standing outside the home, only to get a voice mail....go figure! I leave a voice mail indicating that we were not able to get in and that I'd still like to take a look. I'm not sure why I was surprised, but I didn't hear anything from her that afternoon and ended up giving her another call first thing Friday morning, and then again later in the morning and a couple more phone calls Friday afternoon. No answer, no return phone call, nothing!!
Friday night before I went to bed, I was checking my email and happen to check the listing on this property thinking that maybe we were late and they had already accepted an offer. Which would provide somewhat of an explanation for the listing agent's complete unresponsiveness. To my atonishment, they had reduced the listing price again by another $15,000. So at this point we are now approximately $60,000 - $65,000 under market value. Needless to say, now I'm upset. What in the he** is this agent doing? Instead of actaully letting the people who want to see the house, see the house, they've just decided that their strategy would be to keep reducing the price. My concern was that they were attempting to generate a frenzy around the property and hope that three or four potential buyers had some interest and would attempt to outbid each other. Not at all what I want to get involved in.
Saturday morning I was finally able to get a hold of the listing agent by calling her broker and asking that he track her down for me. The listing agent called me back immediately claiming that she hadn't received any of my phone calls. Whatever!! How about the three voice mails, did you get any of them? And how is it that on Thursday you answered my phone call, but mysteriously none of my subsequent phone calls went through. Save the stories, I don't need them, just answer your phone when it rings, you owe it to your clients!
[tags] Phoenix real estate, Desert Ridge real estate, unresponsive real estate agents [/tags]