Redesigning the System
Posted in The Great MLS Debate -- By Diane Cohn, Tuesday, March 4, 2008.I'm soooo tired of convincing delusional sellers into realistic selling prices. The denial, the justifications, the my house is special and should be worth more conversation is pointless, exhausting and a waste of everyone's time.
I say we automate the process. You want to use the MLS to sell your house? Fine, we list for whatever crazy price you want. And every day it doesn't sell we knock $1000 off the asking price, automatically.
What? You think this is nuts? Then you're not a real seller, you're a poseur.
Stop wasting everyone's time and money. Let's create a system for real estate not unlike the stock market. If the demand is there, the bid goes up. If the demand isn't, it goes down until someone opens escrow. Can't stomach the commitment to sell for whatever price the market is willing to pay? Then list your house on Craigslist, represent it yourself, and good luck.
You obviously don't need a Realtor anyway.
Diane Cohn, Realtor
www.renorealtyblog.com
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Submitted by Ryan Elliott on March 5, 2008 - 4:56pm.
Diane,
Interesting idea but the biggest flaw is the MLS is not a true marketplace. The MLS is only one side of the equation, the sellers. There currently isn't a buyer marketplace online. If you could create a 2 sided market place and add buyers to the equation you would be on to something. Much like the stock market. There are buyers and sellers are in one location. Sellers a willing to sell and buyers are willing to buy the question is price. The market determines the price.
Ryan Elliott
ryanassist@gmail.com
Submitted by Joe Cline on March 5, 2008 - 5:55pm.
Diane,
I feel your pain. It just takes some people time to figure it out. I mean if the seller is willing to review the data and doesn't get it, then I'm happy to try the listing at whatever price they want, but only for two weeks or so. Then we need to move to a competitive price. I've been wrong a few times on price so I'm ok with trying a higher price if the seller is set on it, but the data is right 9 out of 10 times.
Joe
Austin Realtor | Austin Real Estate | Austin Real Estate Blog