Victoria – “One realtor openly stated the one home was overpriced but she was just following the direction of the seller.”

“I was out to a number of open houses on the weekend here in Victoria. With the exception of one, every home was vacant. And no there was no rush of buyers having a look. One realtor openly stated the one home was overpriced but she was just following the direction of the seller. In another the realtor said it was a buyers market with inventory at a 20 year high. He looked sad and forlorn.
There are For Sale signs popping up everywhere here; I don’t think prices are going to rise anytime soon.”

Bobby at greaterfool.ca 5 Oct 2011 1:48am

2 responses to “Victoria – “One realtor openly stated the one home was overpriced but she was just following the direction of the seller.”

  1. “One realtor openly stated the one home was overpriced but she was just following the direction of the seller.”

    OK… you mean she wastes advertising dollars and time for something that almost assuredly won’t pay off? Is this what they refer to as “marketing”? If you define “marketing” as “doing something that can only show up as an expense on the ledger” then I guess so.

  2. jesse: “OK… you mean she wastes advertising dollars and time for something that almost assuredly won’t pay off?”

    Well, if the market is dying, her only hope (other than finding a new line of work) is to beat the dead horses in hopes of a resurrection.

    Realtors sticking it out in situations like this are probably one more symptom of what’s afoot.

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