Is it the market? Perhaps. It's more likely two of the three types of realtors causing much of the mispricing to market.
1) The "Area Expert" realtor. We've all seen certain agents shouting about their high sales volumes, but remember high volume doesn't mean high price. Most sellers don't dig in to see "original list" to "closing price" later bamboozled into signing a listing agreement. The agent says they can get the list price that an ill advised seller thinks is a market price. It's not the market price, but the sellers price... A price that is simply unrealistic.
2) The grossly inexperienced realtor. It's too easy to get a real estate salespersons license. With many realtors and few listings, it's a market destined for trouble. Inexperienced agents give oceans worth of bad advice and sloppy service. Even a well priced home can suffer from A.I. Slop property descriptions, minimal IPhone photos on-line, and bad staging. Agents with less than 5 sales YTD shouldn't a sellers first choice for representation when selling a $1.5M property, even if they are a sellers cousin/co-worker/ or FB Friend, but often are.
3) The 80/20 rule applies to Realtors just as it does to any other business. I'd say (with 35+ years of experience behind me) that it's more like 99/1 percent. I'm not talking about the advertising gimmick of being a "TOP 1% AGENT" as you often see on your grocery cart at HMart or Mitsua, but that 1% of Realtors who make home selling a profession, not a hobby.
@usctrojancpa is one for example. I'm in South OC and know 2-3 others that are at the same level of industry professionalism, but unfortunately I also know literally hundreds who should be avoided. Just because you get a good Realtor doesn't mean you won't have a price adjustment during your listing, but you will know what your strategic options are well in advance. Look up "The 7 P's" as most genuine 1% agents demonstrate this phrase during the entire sales process. It's the kind of Realtor you want in this present market
My .02c
