In the last year, home prices increased by 2% and inflation was right about 3.4% over the same period.
That's a 1.4% loss in equity, even before the cost of homeownership. I understand that leverage can change those numbers, but who wants to buy into a depreciating asset made profitable through increasing risk?
Very little appreciation seems to be on the horizon. Who is telling buyers to buy anything at market prices right now?
I have been an agent for 6 years in the Midwest. You hear more and more stories the longer you stick around, and FSBO is a complaint I hear often from agents. They vent to me, sounding legitimately upset about a seller who wants to, God forbid, sell their own home.
There are many, many of these agents who will berate sellers, throwing out doomsday scenarios and scare tactics, all the while framing it as "just trying to help you not make a huge mistake." This to me, is nothing more than a very dishonest sales tactic, from an agent who is upset that someone doesn't need their services.
To all you FSBO sellers about to get started, know this: it is more work than you expect, and you are fully capable of doing it. Plenty of resources online, and there won't be anything you won't be able to figure out.
Make my day and tell me, what are some of the best stories you have heard of agents trying to dissuade people from selling their own home?