My realtor actually talked me out of offering asking price last week

I was ready to throw $315k at this house in Portland because I got scared of losing it. But my realtor, this older guy named Ron, sat me down and showed me three comps that sold for less in the same block. He said overpaying now means you're underwater before you even close. It hit different because I thought realtors just want fast sales, but he talked me into offering $295k instead and we got it. Has anyone else had an agent fight against their own commission like that?

2 comments

2 Comments

derek93916d ago

Your realtor gave you solid advice. Overpaying in this market can lock you into negative equity before the ink dries.

spencer_ross16d ago

@derek939 that line about "negative equity before the ink dries" hits hard. Saw a buddy buy a fixer upper at peak price last year. Now the next street over has identical houses listed 20k less. He's stuck. Can't sell without taking a loss.