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In spite of the busy market with some local listings selling the day they're listed and others selling for well-over-asking price... others fail to sell and the listings expire or keep being renewed. Usually, the reason is quite obvious- the price is too high, the property is in disrepair, the location is a problem, nobody will insure or mortgage it or there is some stigma attached to the property.
Pricing too high is usually the result of a Seller having unreasonable expectations and Realtors who are willing to take the listing, regardless. There are a number of reasons that some Realtors will take an overpriced listing. Some are just happy to have a sign location to self-advertise- their name and phone number on the lawn will generate calls from ready buyers and they can sell other homes to them. Others are looking for the opportunity to have a high priced listing that they can advertise in print, fielding calls from buyers and selling them other properties that are worth the higher prices. More often, the Realtor hopes to use feedback from the market to convince the Seller to reduce the price.
Location, location, location. A good Realtor factors location into pricing and doesn't try to hide the fact that the property is next door to an auto-wrecker or doesn't have road access... keeping that detail for a surprise during the showing is usually a great deterrent to prospective Buyers who wonder what else you might be hiding. The same goes for properties that exaggerate their condition and disappoint Buyers who are unprepared or unable to invest in necessary repairs.
Stigmas include any non-physical, intangible attribute of a property that may elicit a psychological or emotional response on the part of a potential Buyer- for instance, a previous owner was a criminal, the property was a grow-op or meth lab, there was a murder in the home or on the property, the property was used as a brothel or chop-shop, there was a suicide at the property, it was formerly a funeral home or waste disposal site, there's a decommissioned mine on the property, the house was previously infested with pests or allegedly haunted... and the list goes on.
A competent Realtor does their homework and discloses the challenges that exist on or about the property. It's the law.