Long, long ago there was Prime Ticket Sports. What set Prime Ticket apart was the evening call-in show which had … get this … a ticker of scores running along the bottom of the screen! No need to wait until the morning to see what was happening in Major League Baseball that night. The scores were there for the taking!
Know what else was cool? The hosts had mountains of statistics at their fingertips, all on the old green-and-white paper that spewed forth in continuous masses from a daisy-wheel printer. Want to know what Alfredo Griffin was hitting? They knew! And they didn’t even have to wait for the weekend AP stats package (or the Tuesday update in USA Today) to know. It was incredible.
I was younger and loved baseball then. That was when I started playing tabletop baseball, for the stats as much as anything else. Toby would appreciate this even if Strat-o-Matic is the one version I never played (I was partial to APBA and Pursue the Pennant.)
Things are different now. Statistics are available in a wide array of web sites, updated to the minute with everything you wanted to know and lot you never cared about. Do I really need to know someone’s on-base percentage with runners in scoring position and one out in the fourth inning? Doubtful. But it’s there.
And I still look at batting averages, archaic as they may be.
Part of the evolution of real estate is there’s increasing amounts of information available at a buyer or sellers’ fingertips. Some of it’s useful. Some of it’s not. How is the consumer supposed to know the difference?
Trulia Voices seems to be the main place where the advice is dispensed regardless of logic or accuracy, though it also happens on Zillow Q&A and Active Rain’s Q&A. Yesterday I had written about a thread from Tuesday. It’s still going now.
The buyer has the agent but is soliciting pricing assistance from the Trulia Voices crowd. None of these folks really know the situation – the property in question, the comps, etc. They are receiving everything third hand. The buyers’ agent has the most available data, but my hunch is he or she isn’t giving the buyer the answer they want because the buyer is looking for someone to validate her offer price.
And validation is coming, REALTOR Code of Ethics be damned.
Is this really helpful to the buyer, who likely is going to run with the (mis)information she is receiving when she puts together an offer? Not whatsoever. Is it helpful to the seller (set aside from the fact it’s a bank in this case) who is trying to negotiate the sale? Not at all.
“Is it possible for the bank to accept $100,000 less?”
Not if the price of the home is $98,000, it isn’t. Not even if it’s $150,000, for that matter.
Being able to assemble the varied pieces of data and develop an effective negotiating strategy is one of the key traits of a good real estate agent. Representation doesn’t involve telling the client whatever they want to hear (though my job would be easier if it did.)
Asking the faceless masses whether you’re going about a purchase the right way not only is nonsensical, but at the end of the day it will prove fruitless.
[tags]Phoenix real estate, real estate negotiations, Trulia Voices[/tags]