A jaundiced view of sellers’ attitudes

“Sure the market’s down, but not my house!” Real estate agents from around the country report on how they’re doing with their seller/clients.

Update: here’s the link to the AP story cited by the Boston Globe’s blogger: “Delusional home sellers”.

“Love me, love my dog” syndrome

That puts real estate agents in a precarious position of pricing a house to sell, but not insulting the homeowner by recommending a lower asking price. To a homeowner, a low, but realistic, listing price is “like someone calling your kids ugly,” Ariely said with a laugh.

Joni Herndon, an appraiser in Tampa, Fla., said real estate agents are calling her in to help homeowners grasp the reality of their home’s value. Herndon frequently fields questions from disappointed homeowners after an appraisal, and has to explain how broadly the market is declining and why what a neighbour got two months before for his house doesn’t apply anymore.

“But sometimes you just can’t get through to people,” she said.

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