Interesting question. As mentioned in one of our previous blogs, inventory has more than doubled since June of this year. But how many are really for sale? Despite the recent slow down in home price appreciation some people are still pricing into the curve, as if prices were still off to the races. These are what I call "opportunistic sellers". That is to say if someone is crazy enough to meet their price then they will sell. Of course, there are plenty of dopey agents who will accept those listings, but they won't stay in business very long. "But they show my house all the time" bleats the seller; little realizing that an astute agent will show the overpriced turkey in order to sell the house down the street that is priced correctly. Also, with these types of sellers, if the actual market value creeps up to their price over time they will actually raise the price! Always a day late and a dollar short.
Finally, don't reward the buyer's agent with bonuses and extra commission, after all the buyer ultimately pays for those incentives. In any case that is a red flag to an experienced agent that your property is over-priced. Don't try to re-invent the wheel, reward the Buyer with a lower sale price. It just makes sense.
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