Life is unfair.

11 Butternut

11 Butternut

Or not, depending. 11 Butternut Hollow Road has been up for sale, with a brief hiatus, since September, 2009, when it started at $2.695 (sellers paid $1.615 in 2002). I didn’t think much of that price and neither did the buying public, obviously, since it languished, even as it dropped in price. It was at, I think, $2.195 when its last listing expired and the owners gave the listing to a new broker, who must have persuaded them to drop below $2 million, to $1.995. Result: accepted offer in just 11 days.

Now I know nothing about who suggested that ridiculous price of $2.695 in the first place, owners or agent, and if it was the agent, then the owners were certainly justified in blaming her for their lengthy stay on Butternut Hollow, years after they’d decided to move. On the other hand, it’s often the owners who set these prices and if that was the case here, then it seems rather mean-spirited to let the first agent spend four years trying to unload the ol’ homestead and then dumping her just as the price is dropped to a sellable level.

But that’s the business. It’s also why I won’t take overpriced listings: too often, the first and second agent does the work, the third cleans up.

(As an aside, I couldn’t find a client who liked this house enough to even bid on it, but different tastes among home buyers is as common as overpricing by owners, so …)

4 Comments

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4 responses to “Life is unfair.

  1. Anonymous

    I mean, that’s the risk of taking a listing which the owners price too high. It’s part of the gamble, it’s part of the business, and you take the good with the bad. Sometimes you take a listing with a lower commission, but build a new relationship. And that relationship can lead to referrals and more total business, which then leads to you becoming the agent who just seems to get and sell more listings.
    This small town real estate deal that we have here in greenwich seems to be more about relationships and volume.
    Helps to have screw ons too, but seriously, if there’s ever a biz where volume trumps a 1/2 a percent here and there, it’s greenwich real estate.
    Especially with young families, Wall Street families, this group moves often and quickly, whether they like it or not, their jobs don’t let them sit in one place for long periods of time.
    Both of our kids are in the same preschool, and I can’t believe the turnover.
    People come and go like crazy.
    And when they go, they go far, and they go fast.
    Lucky for us our jobs are local, our clients are local.
    We can dig in, plant some trees and actually stick around to see whether they die or thrive.

  2. Anonymous

    You want to be 1st born, 2nd wife, 3rd listing agent

    • Long Time Central Greenwich Resident

      Was sort of unpredictable how tastes have changed lately. Two acres are not the be all and end all that they used to be. Small lots near town are the ultimate. Go figure.

  3. Anonymous

    4 dollar gas