Special offer

I WANT To Sell! I Just Want The RIGHT PRICE!

By
Real Estate Agent with Berkshire Hathaway Home Services Florida Network Realty BK 3030920

As we all have experienced in our careers, and lives, sellers do in fact, really want to sell.

Their motivation to sell, however, can be completely different, from seller to seller, and property to property.

There are sellers who HAVE to sell, due to relocation, lifestyle change, children - a life-defining moment usually.

There are sellers who WANT to sell, to liquidate, or because a property no longer suits their needs.  Not always a life-defining moment.

Then there are the sellers who HAVE to sell but WANT to sell for the RIGHT price.

I've got one right now: we've been on the market for a period of time, we've now received our second offer, and I know she really wants to be done with this house (it was her mother's, who passed about 3 years ago), and even though this offer is what I would consider decent, rather than just accepting it, and moving on, she wants to counter.

The last offer was reduced $30K in a counter offer, post inspection. This existing offer is $5K higher than the dead one, telling me this is the juncture where price and perception meet, meaning, this could very well be as good as it gets.

Sellers - be honest with yourself, and look at the numbers your agent and consumer firiendly websites are telling you.  It is the intersection of property condition, price, and competition that will determine your final sales price.

Posted by

Carol Zingone is a full service Broker Associate proudly affiliated with Berkshire Hathaway HomeServices Florida Network Realty in Atlantic Beach, FL.  I help buyers and sellers locally, regionally, and internationally.  With hundreds of happy buyers and sellers over the course of my career, I'm thrilled to help first time buyers, military buyers, seniors, investors, 1031 exchange properties, short sales and REO's.  I have spent hours honing my expertise, including the designations of: Graduate Realtor Institute (GRI), Loss Mitigation Certification (LMC) , Short Sales, Foreclosures, REO's, (SFR), and Senior Real Estate Specialist (SRES).  I pride myself on providing excellent expertise to all buyers and sellers. Search the MLS via www.carolzingone.com  for Jacksonville and area listings!

 

Lydie Ouellet Dickinson
Realty Executives Tri County, Bellingham MA - Bellingham, MA
Realtor

Carol, I sympathize with you. It is so difficult to try to help when the person in need cannot see through the problem. Good luck! And as Indera said: I wish you "respect" from your seller!

Feb 28, 2011 06:05 AM
Jayne Esposito
Coldwell Banker - Morgan Hill, CA
SRES, GREEN

Perhaps your seller is still emotionally connected to her mom's house and needs a gentle diective push from emotion to reality....

Feb 28, 2011 06:11 AM
Jane Jensen
Century 21 New Millennium - Arlington, VA

I sometimes suggest to sellers that they respect their own time and energy. Do they really want to go through another round of negotiations with another buyer?

Feb 28, 2011 01:32 PM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

It still amazes me that when the seller really has no personal interest in the home, it was her mother's right? that they can be such sticklers.  You're right, maybe this second offer with the perception / reality of offers not flowing in might be the one that sticks.  A bird in the hand ... best of luck!

Feb 28, 2011 02:13 PM
Connie Goodrich
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas

Congrats on the gold star!!  Seller motivation and having to have a certain price or they will have no flexibility.  Certainly is an obstacle that will have to be hurdled when opportunity knocks and it is a little below the mark.  It becomes emotional to the seller and our job is to try to get the seller on a business level of responses.  Best wishes!!

Feb 28, 2011 02:19 PM
Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Carol -- Beyond well said!!!  A home is worth whatever a buyer is willing to pay for it.  A seller can obviously say no, and they can help sell the competition.  Keep track of trends, especially if things are trending down is key to potentially avoid even further loss if a local market continues to decline.

Feb 28, 2011 02:44 PM
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

What a tough situation! I remember being in a similar situation when I was the seller. I agree that sellers need to concentrate on the comps.

Gretchen

Feb 28, 2011 03:28 PM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Sellers really have to understand that price can make the difference between selling or not.

Feb 28, 2011 03:33 PM
Sarasota & Manatee Counties FL
SaraMana Properties - QuickFreeMLS.com - Bradenton, FL
QuickFreeMLS.com - Listings In Paradise

Thank you for sharing your thoughts Carol. Good blog post!

Feb 28, 2011 04:25 PM
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Ah Carole, it could get interesting. Sounds like it's in the ballpark but sometimes sellers are fickle.

Feb 28, 2011 04:53 PM
Joyce Herr
Prudential Lancaster Real Estate - Lancaster, PA
Lancaster County & Beyond

That's why we look at comps to give us a good indicator of price.

Feb 28, 2011 10:30 PM
Irene Kennedy Realtor® in Northwestern NJ
Weichert - Lopatcong, NJ

Carol,

I'm negotiating an offer at my brand new listing - very rare in these times!  Extra tough to get the sellers to give a bit when it just came on the market...

Feb 28, 2011 11:24 PM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Indera: Thanks - I know we all have similar situations!

Lydie: We had a good chat, and we have a verbally accepted counter right now!

Jayne: You could be absolutely correct - thanks!

Jane: Very good point. I'm hopeful we are still in agreement once inspections are past.

Carla:  Thanks- so far, so good!

Connie: Thanks!

Chris : So true, which is why we all have to study the numbers, whether we like them or not.

Gretchen: We know it's an emotional decision, it's just that we need to reduce the focus on the emotional part of the sale process.

Tammie: Thanks & I agree!

J.A. : Thanks! I"ve found my 'better" posts tend to be when I'm really motivated!

Vickie: We got a verbal counter accepted; so good ending so far!

Joyce: So true; but we need to help the selllers understand too.

Irene: Congrats & let us know how it turns out!~

Feb 28, 2011 11:56 PM
Charlie Dresen
The Group, Inc - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

Carol - Not only is it hard getting sellers to understand market values, but getting their agents to explain it to them and getting them to understand. Then, controlling the emotions of your buyer who want to buy the home but the sellers are just not realistic on price. So do you advise that over-paying is acceptable . . . ?

Mar 01, 2011 12:38 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Carol, sellers have to understand that it isn't the seller or the agent who establishes the price, but the market. Goo luck with the offer.

Mar 01, 2011 01:18 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

Hi Carol, I feel your pain :).  I just wrote a little poem this morning that expresses something like that.  I won't link it as I consider it rude, but perhaps you can find the time to check it out :).  I sincerely hope that you and your seller come to a resolution soon :)!

Mar 01, 2011 01:19 AM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Charlie - I don't condone over-paying at all, particuarly in this market.

Michael: Thanks! I'm optimistic we can get this to stick.

Brenda: Thanks & I will check it out!

Mar 01, 2011 02:18 AM
Cory Barbee
San Diego, CA
Broker (760) 563-4022

These are tough because of the emotions tied to a family member...at the end of the day you have to come to the table prepared with market data and you have to ask some tough questions in order for the seller to ultimately answer their own question...good luck!!

Mar 01, 2011 05:24 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Carol

Great post, most seller want to sellers other just have an interest in selling sounds like this has interests.

Good luck and success.

Lou Ludwig

Mar 01, 2011 11:21 AM
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Carol...Congrats on the feature....Really nice post! They are all different ...that's what makes each day so interesting.....
Hope you have a great day!---Rob

Mar 01, 2011 10:20 PM