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I am always baffled by how real estate agents price homes.  I wonder if real estate agents actually look at the solds.  Here is a perfect example of the lack of market awareness that exists among real estate agents in Burnett and Washburn Counties.  I just did a MLS search of how many homes sold in Washburn and Burnett Counties from 500,000 to 1,400,000.  In the past year there were only eight sales of such homes on the MLS.  There were probably some other FSBO's but needless to say most of the homes that sell in that bracket will be sold by agents.  But there are 39 listings on the MLS!  39!!!!  Of course that doesn't include all the FSBO's that are for sale either.

So what should an agent tell a client that lists a house between 500,000 and 1,400,000?  Answer:  The chance of you selling it is slim.

If that is the answer then why do agents consistently over price homes? Answer:  To get the listing.

What should agents be doing?  Telling people that the market is over supplied and there aren't the buyers you think.  The reality is that if you really want to sell your house you are probably going to have to get realistic about the market.  Otherwise don't list it.