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Sellers- When will you learn?

By
Real Estate Agent with Asante Realty CA DRE# 01463395

I went on listing appointments in the last one month and unfortunately did not get them. In hindsight, I am so glad I did not get them. The sellers wanted high prices for their homes which they would not get at all. One of them sold for $20,000 under the list price; the other one still sits on the market( funny thing- they hired the same super hero agent who sold the other home for 20K lower; knew how much he was pending at and yet priced this home at least 40K higher than this one !!!) and the other one is the most expensive one on the market !!

When I give a price range of how much the house will appraise for, I know what I am talking about. I study my buyers appraisals very carefully and know how much the appraisers are adjusting values, for what they give the plus and for what they give the minus in value. In fact my loan officer always tells me- you are ALWAYS right Rama !!!!!And yes- I am right almost 99% of the time.

A house that gets listed has one single purpose for the seller- GET IT SOLD. But then listen to the agent who is giving you the truthful honest answer. I have my own home in Windemere and I know exactly how much it is worth right now- I am not going to thinking that my house is worth $300,000 more than the market value.

Yes the truth hurts but if you want to sell your home fast, then price it right or just do not enter the market and add on to the list of over priced stagnating homes.You can never price your home too low because the market will tell you. Getting emotionally detached is the first step and the second( and most important step) is to believe the person who tells you the truth rather than the agent who lies to you just to make you happy. They will ask you for a price reduction in 3 weeks !

List of homes for sale in Windemere- these homes have been in the market from 40 days and above.

Comments (9)

Jon Quist
REALTY EXECUTIVES ARIZONA TERRITORY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

If the sellers are delusional, they will always be able to find an agent who will still take the listing. The house will just sit, with few showings. And who do you think the seller will blame? Hmmn.

Apr 28, 2011 06:42 PM
Rama Mehra
Asante Realty - San Ramon, CA
TOP 1% REALTOR IN THE TRI-VALLEY

hahahahaha right on Jon ! But they realised it too late. I get tempted to lie to get the listing but my inherent nature holds my tongue back from lying and cheating. I'd rather not get that business than have cardiac arrests over angry sellers

Apr 28, 2011 06:44 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Rama, so true and it's not worth the heart attack! I like how you put your list together of homes that have been on the market for over 40 days. Great job,

Apr 28, 2011 06:52 PM
Rama Mehra
Asante Realty - San Ramon, CA
TOP 1% REALTOR IN THE TRI-VALLEY

Thanks Pamela ! Over 40 days is a lot for Windemere !

Apr 28, 2011 06:56 PM
Keith & Shannon French
www.KeithandShannonFrench.com - Catonsville, MD
Baltimore's Best for Rent To Own Homes

I'm not an agent, but I've always wondered what I would do in this situation.  I think I'm leaning towards taking on the listing after fully disclosing to the seller all the ramifications of listing it at such a price:

  • no showings, no offers
  • low offers
  • property doesn't appraise
If there's communication that in such scenarios that the Seller would consider reduction (and of course is in a position to make the reduction), why not?  Maybe even set up...if we haven't had X showings by X date, you agree to either reduce the price or add more time to the listing.

I still do feel you on the frustrations of delusional sellers.  I've seen them be more in touch with the value of their homes this past year, but there still are those who refuse to accept that their house is not worth what they think.

Apr 28, 2011 07:05 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years
It's a risky situation; I prefer to get a properly priced home the first time.
Apr 28, 2011 08:01 PM
Doug Bullwinkel
E Mortgage Capital, Inc. NMLS 1416824 - Roseville, CA
Mortgage Loan Officer NMLS #281609

You are smart to focus your attention on the things that will make you money.  Wasting your time on lisitings that won't sell or those that are priced so high that they take several offers before the sellers get real is not a good use of your time. 

Apr 28, 2011 08:01 PM
Anonymous
EscalanteOwner

I think I know the home you are talking about. I was not too pleased dealing with him either. I wish people like you got more listings

 

Apr 29, 2011 12:04 PM
#8
Rama Mehra
Asante Realty - San Ramon, CA
TOP 1% REALTOR IN THE TRI-VALLEY

Thank you folks for your input.

Doug: My focus has never been money. It has always been to do a good job for my clients, money is something that
 comes and goes but I don't want to mislead clients or to have them frustrated and later gunning for my blood.

Escalante Home Owner: Thank you very much for your kind words of support, I am very grateful. Please do keep me in mind for your referrals :):)

Apr 29, 2011 01:29 PM