I’ve commented for some years now that sellers have had a philosophy that “no one’s gonna steal my house” and pointed out that no one was putting a gun to their head but merely offering to pay several million bucks for property that was probably worth less than the seller’s opinion.
That seems to have reversed. Yesterday a buyer, told that a house had originally been priced at $3.9 million and eventually sold for $2.5 told the listing agent that “you’re trying to broker me” and stormed from the house. Look – you Wall Street guys all have your spreadsheets and “know” what a house should be worth, but you might try respecting the knowledge of what we agents, sometimes, have to offer. Buyer’s agents owe you a fiduciary duty, owe you our complete loyalty and, while not every agent lives up to that duty, most of us do. You should certainly make up your own mind, but you might at least consider listening to our advice. We probably, believe it or not, know more than you do about Greenwich real estate. You’re on your own with valuing the Euro.