I'm in the Multiple Listing Service that serves the City of Dallas and a number of the nearby bedroom communities.
The number of Realtors who serve the area is about 17,000 and of those 14,500 or so are members of the Multiple Listing Service.
It is always interesting to see how many listings expire after, say, six months on the market, without attracting a sale.
It's difficult to place the blame on those who are representing potential buyers, when you consider that the listing agent and his client were unable to provide a home that would attract at least one buyer from the other 14,499 agents.
I contend that the listing agent is the most important professional in the equation. And that the failure of the lack of a sale is more often than not in the listing agent's lap.
Recently, I saw an expired listing whose value was no greater than $2,500,000 yet the agent and the client had had it listed on the market for just shy of $5,000,000 for going on two years without any reduction of price.
Another one had a perfectly viable home on a nice waterfront lot for sale for about $1,250,000. The agent had decided that the home should be a tear down, and would not allow the home to be viewed by a potential buyer.
So a potential buyer was not only not allowed to view the house and decide whether or not he was interested in remodeling the home, but the seller wanted the buyer to pay for improvements which were a part of the appraised value, but he expected the buyer to also tear down at his expense.
My point is this: The most important member of a real estate sale is the listing agent, yet very little time seems to be devoted, in many cases, to the exercising of a dependable value to a home when it is listed.
BILL CHERRY, REALTOR