A realtor's analysis consisted of what a particular property is worth based upon what has sold recently in the area and the tax information provided, (the assessed value). This is the same criteria that a Buyer’s agent presents to a prospect interested in the property.
At least that is the process followed for many years and called Real Estate. Today, we have banks trying to sell off “bad loans” at inflated prices. And we have an equal amount of so called investors attempting to purchase below any reasonable value in order to put properties back on the market (all polished up) at inflated prices. We also have government loans given to unqualified Buyers with no money down. Did you read that one? NO MONEY DOWN!
Isn’t that how all of this larceny began?
There are a vast percentage of licensed realtors today who don't have a clue who their buyer or seller might be. They “do” their real estate glued to a computer. They do not bother to preview a property in order to discover the possibility that it may or may not fit the buyer's criteria or conversely, be priced competitively.
No, they prefer to be tied to the computer. Do they even do a “drive by” to discover whether or not the neighborhood is safe or neat?
Like so many professions in today’s world, people have become almost obsolete. If you can find a perfect home on line and contact a mortgage company on line, what in the world do you need a person for?
The only good aspect to all of this computerized chaos is that when the deal turns out to be a lemon, you cannot blame your Realtor.