[hartator]

> I just got an update from my realtor that, compared to 2021, houses are now getting 5-10 offers instead of 10-20.

Well, Realtors are incentivized to portray the market hotter than it actually is.

[vbtemp]

They are portraying the market exactly as it is. Reality is speaking for itself, not the realtors.

[hartator]

OP was talking about realtors. Realtors commission is based on final price, why not portraying the market hotter?

[AnimalMuppet]

Because if you make the seller think the market is hotter than it is, then they price the house too high, and the house doesn't sell. That results in $0 commission.

I could see them telling buyers that the market is hotter than it is. But even that might backfire, if they make qualified buyers think that they can't afford to buy in the current market.

[SilasX]

Okay, then presumably you can just appeal to the real basis for that claim, rather than the unreliable realtor source?

[rednerrus]

I've been to the open houses and I've been watching Redfin and seen the houses come open on Thursday and pending on Monday.

[hartator]

Which areas? Austin this is not the case anymore and I thought this was one of the “hotter” areas in the US.

[rednerrus]

Pacific Northwest