God love foreign brokers

Heh – I was pulling up some old sales on a street of modest houses just now, in preparation to give a price opinion for a colleague’s listing presentation (my advice? Don’t bother) and I saw a string of sales, all the low 6’s through, as we got into 2007, $825. But one sale for a million dollars stuck out from 2006. I looked it up and it had been renovated, but so had most of the others. The only real difference I saw was that the buyer was represented by an out-of-town agent. Readers have commented before that these obliging people get rid of our least desirable houses at ridiculous prices and I agree. Some of my fellow agents think we should make it difficult for these people to operate in town but I think the opposite: bring ‘em on – we have tons of inventory to unload and the sellers would love to get something even close to their asked-for price.

7 Comments

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7 responses to “God love foreign brokers

  1. gideonfountain

    By “foreign” brokers you mean out-of-town brokers and yes, these folks do sell some of our worst stuff at good prices.
    That fact represents a good warning: if you are buying property anywhere, make sure you use a LOCAL broker who knows the territory.

    • christopherfountain

      Unless you’re buying one of my listings, in which case, please use an agent from Westport or, better still, Shelton.

  2. Sanjay Bigglesworth

    I am surprised that brokers will venture with clients to non-local markets. I believe the brokers my family used in New Canaan and Darien (I am sorry CF, I just couldn’t afford Greenwich) to be very competent. But while quick to disparage surrounding towns for their perceived shortcomings, these brokers wanted no part of representing us in enemy territory.

    • christopherfountain

      I stay out of neighboring neighboring towns(as a real estate agent), Sanjay, not because I don’t like them but because I don’t know enough about them to provide worthwhile advice. There are some agents, I’m sure, who can do that, I’m just not one of them.

  3. Anonymous

    CF — what are your current listings?

    • christopherfountain

      I was fortunate to have all my listings sell before the market collapsed, Anon, except for one beautiful 2 acre plot, with a house on it, at 34 N. Porchuck. That’s been priced at $1.895 or $4,500 rent for awhile now, with no takers. The frustrating thing about this market is, and I’ve written about this before, the sellers would be glad to drop their price if they had any assurance they could sell the place but what assurance can I give? Great land, with a stream, waterfall and Audubon land surrounding it, but a tough market for sellers, as I’ve mentioned before.

  4. Walt

    Do your backs hurt from all the back slapping you are giving yourselves? I think I threw up a bit reading these posts. Thank Heaven for my dribble bib!! I could have ruined my Tommy Bahama shirt. Get off your high hor… Get a dose of reality, for Pete’s Sake.
    What you guys do takes no skill. You need to know how to drive a car and smile a lot. It’s exactly like my job, except I don’t need to know how to drive. Any of you schill’s who HAS NOT knowingly sold one of your clients a grossly overpriced home, RAISE YOUR HAND. Ooop’s, all double amputees. I thought so. You show someone a pile of horse shi… – a pile of junk, and tell them about the schools and how happy they and the foals will be growing up there. Bernie modeled his ENTIRE strategy after ReMax, for Pete’s Sake.
    I have been roughed up pretty good today, but do I whine? NO. But you guys all have your little panties in a knot over the Greenwich real estate market, and “foreign” brokers coming in. Buck up, boys, and learn to deal with it. You whiney little snots.
    But you can’t ruin my night.
    Off to Basil’s!! WORM!!!
    Your Pal,
    Walt