[rp001]

Today I took a visiting friend to see a couple of open houses by the villages realty. In discussion with the realtor I was informed that I live in a "Tier 3" neighborhood (Glenbrook). I asked what that meant and was told we were classified that way based on home values. The same home we looked at in Hemmingway was 20 percent more than it would be in my "tier 3" area. So in questioning the rep, I figured this was entirely subjective and was based on the client's "need" as interpreted by the agent. In other words the reps are classifying, and valuing your property. To me this is "profiling" and should cease, let the market set the value, not some realtor employed by the builder.

[mulligan]

Go ahead, tell the developer how to operate his sales force, see how far you get. I'll bet you could hear the chuckles all the way to the Bahamas.

[Barefoot]

Originally Posted by rp001

In other words the reps are classifying, and valuing your property. To me this is "profiling" and should cease, let the market set the value, not some realtor employed by the builder.

I think I may be missing your point, and if so, I apologize.

When an owner is considering selling their home, it's the job of a sales agent to do a market analysis of homes that have sold in the neighborhood, determine a recommended list price, and make a recommendation to the potential lister. It's the owner that decides the actual list price.

And ultimately, it's the purchaser who sets the market value. And we have some very sophisticated purchasers who know value well. As a general rule, purchasers in TV go to open houses, look at the internet (both MLS and VLS) and talk to friends and residents. By the time they buy, they are usually well qualified to know if a home is properly listed.

[CFrance]

I don't see anything wrong with rating neighborhoods, but if there is a tier system, it would be nice to know what the parameters are and how each neighborhood is rated.

[jimmy D]

Originally Posted by rp001

Today I took a visiting friend to see a couple of open houses by the villages realty. In discussion with the realtor I was informed that I live in a "Tier 3" neighborhood (Glenbrook). I asked what that meant and was told we were classified that way based on home values. The same home we looked at in Hemmingway was 20 percent more than it would be in my "tier 3" area. So in questioning the rep, I figured this was entirely subjective and was based on the client's "need" as interpreted by the agent. In other words the reps are classifying, and valuing your property. To me this is "profiling" and should cease, let the market set the value, not some realtor employed by the builder.

Actually I think this has been going on with Real Estate everywhere for the past 50 plus years. Good neighborhood vs bad vs high end vs low rent etc

[ilovetv]

If "tier" translates to average sale price for the particular floor plan in a particular village compared to other villages, then I'd think that is a valid thing to compare.

For those who aren't here yet, I'm constantly surprised to see courtyard villas like ours but much older, selling for the same price in the older neighborhoods as they're selling for in the newer neighborhoods. And some of that could be due to the enhancements the owner has done to an older one.

I would be really surprised if that revelation by the sales rep is supposed to be spoken to a customer.

It's not even close to the badness of racial or other "profiling" like that. Try not to be too sensitive about it at this point.

[DianeM]

Seems pretty normal to me.

[gomoho]

Not sure that REALTORS could go there 'cause it might be considered steering; however, Village agents are not bound by REALTOR code so I guess they can pretty much do what they want.

[billethkid]

trying to fit a today buzz word like "profiling" and make it fit to a business (real estate) that has been doing what has been identified for at least the last 100 years....at least.

Real estate profiling........I just couldn't help myself!

btk

[ROCKETMAN]

I don't know about different prices for different neighborhoods but a home on the north end seems to be lower priced than a comparable house further south. I guess some people don't like driving a long way to sumter landing or Brownwood.

[maddie101]

Originally Posted by ROCKETMAN

I don't know about different prices for different neighborhoods but a home on the north end seems to be lower priced than a comparable house further south. I guess some people don't like driving a long way to sumter landing or Brownwood.

Location, location, location

[fb32162]

Every home I ever bought/sold was priced based on what part of town it was located in. In some places the same house, just a few blocks one way or the other could mean a difference of tens of thousands of dollars. TV is no different.

[DougB]

Originally Posted by ROCKETMAN

I don't know about different prices for different neighborhoods but a home on the north end seems to be lower priced than a comparable house further south. I guess some people don't like driving a long way to sumter landing or Brownwood.

Um, Sumter is about in the middle. Probably more north.

[asianthree]

dosen't every neighborhood have houses from $100,000 to some at a million

[kbace6]

Originally Posted by billethkid

trying to fit a today buzz word like "profiling" and make it fit to a business (real estate) that has been doing what has been identified for at least the last 100 years....at least.

Real estate profiling........I just couldn't help myself!

btk