misleading description of chop

this is only dirty because you are an idiot.

Do you want to pay the current price or not?

This broker targets idiots who worry about what prices were last week instead of what the apartment is worth.

no, it's dirty because the broker is intentionally implying something false.

That apartment looks dirty so who cares?

"This broker targets idiots who worry about what prices were last week instead of what the apartment is worth."

I don't think it's misleading, but the "idiots" part is idiotic.

Why are we surprised every time we see some broker shadiness?

Its an INDUSTRY of LIARS.

How is this misleading? The listing says "originally listed at $685k" which is true. It makes no difference how long ago the apartment was put on the market. The Manhattan RE market has been softening for months now, not just over the past few weeks of extreme financial volatility.

It's up to the buyer to determine whether the current ask is in line with today's market.

The misleading part is "this seller has substantially dropped the asking price to reflect the new climate in the Manhattan sales market." That is false on its own, unless you consider the $14k drop "substantial." The juxtaposition of that with "originally listed at $685k" is intended to give the impression that "substantial" is a lot more than $14k.

All that said, I was merely pointing this out for the limited purpose of providing an example of shady advertising. I think it's sad that people seem to accept and expect this sort of behavior and, I take it, one example of the type of behavior that generates the animosity toward brokers found on this board (and in many places, outside of it).

FYI, I have no interest in purchasing this apartment (or the other one I posted), don't commit the "anchoring" fallacy of assuming something is correctly priced just because it's been cut substantially from a high price. I just found the dynamics of how this (and the other apartment) were being marketed (for very different reasons, of course).

Actually - it's not a bad price - probably will go lower in this market but if it's really 900sf - not bad for a small family without a lot of money

Why is the historical LISTING price relevant Mr. Doe?

why is a broker misleading when he's trying to sell an apartment? It's the buyer's place to research the apartment and there are enough websites to do so. Brokers are doing their job. It's sales 101. You sound hurt if a broker "misleads" you. the broker would say he's doing his job.

Is that a crappy area?

Not great but not horrible. Below 96th. Not sure which school it's zoned for - that would make a big difference. The Carnegie Hill school is not great. The others are very good

Misleading, lying and committing outright fraud IS NOT "sales 101" - it is exactly what would get you either fired or even arrested in other sales or business fields.

Unfortunately, this sort of behavior has been accepted as a norm in the Real Estate world - and as long as everyone made money on their homes and information flow was limited, there was protest from the buying public.

Things are very different now with RE market info more readily available and buyers looking more carefully not to get ripped off (given that the "guaranteed profits" are hardly there anymore).

The RE sales industry needs serious reform and regulation to prevent this sort of distortion, lies and fraud; including very strict enforcement.

Ultimately, people should be able to conduct business and sell assets without misleading and tricking the public.

"there was LITTLE protest from the buying public", I meant to say...

"this is only dirty because you are an idiot."

thats a little harsh but i generally agree with the point. These posts focusing on broker tactics are kind of pathetic. You pay what you think a place is worth, do your own research and make up your own mind, all the rest is noise.

ccdevi - that's true in any industry. You could make the argument that blatantly false ads for medications should be legal, since you should research any medication on your own before you buy it. And you should. That doesn't make lying when trying to sell any more justifiable.

While the example of the OP is more amusing than egregious, I find other examples, such as the square footage inflations offensive and very counterproductive. Further, by repeatedly lying on so many fronts, brokers detract from their own credibility and harm their honest colleagues.

I may be biased (since I started one of the posts on broker tactics), but what's offensive about warning others about sleazy tactics to help them avoid falling into the traps?

I meant "what's pathetic" in the last sentence.

"You could make the argument that blatantly false ads for medications should be legal"

Except this wasn't blatantly false, just another broker hating person making a mountain out of a molehill. I also don't find the square footage example compelling, anyone can look at a floor plan and see that the square footage in the ballpark or not.

I actually don't hate brokers. (I'm not sure why you think you can tell much about me from my limited posts.) I do think there's a problem with the proliferation of misleading and deceptive statements in real estate (and other) advertising. I found this particularly amusing and thought it worth pointing out (in part because it's exactly the sort of thing that people have become inured to, but is clearly intended to deceive).

ccdevi, even if we grant all of your views about what should be important to people and what people should be able to notice, I don't see how that excuses the deception. To the extent you think it does, please justify. To the extent you think it does not, your comments are nonresponsive.

"I also don't find the square footage example compelling, anyone can look at a floor plan and see that the square footage in the ballpark or not."

How's that different from false advertising for medications? Anyone can look online or in a library and see what the medication actually does.

"How's that different from false advertising for medications? Anyone can look online or in a library and see what the medication actually does."

Yes thats exactly the same thing.