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Taking a Sacramento Listing Involves Much Upfront Work By the Agent

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

elizabeth weintraubSome agents go running out the door to a list a home as a short sale the minute a seller calls. I generally hold back a little bit, because unless we have a Notice of Default filed, a short sale probably does not require immediate attention. First, I need to determine whether the home must be sold as a short sale. Some homes have enough equity now that they no longer fall in short sale territory. Then, I need to qualify the seller. I need signed permission to speak with the seller's bank. The sellers need to gather documents, not to mention, clean up the house for photos.

I was a bit astonished today when a seller's bank called me today. I don't yet have the home listed. I will list it when the seller is ready and, right now, the seller is not ready. The bank wanted to know when the home was going on the market and how much I think it's worth. Given the way prices are moving, I don't establish a price until just before we hit the market. Price is the last thing I am concerned with, because whatever market value is, that's the price. The bank kept pressing me as to when I would list, to the point that I wanted to say: Whoa, Charlie, hang on to your horses. Besides, since when does that happen -- banks calling us?

Not only do I have banks calling, but I have other sellers who are presently under contract calling. They want to switch agents and go with me. I have a lot of listings that are "in the works" but not yet finalized. People don't realize how much work is done upfront before a home is listed.

Read more in my professional blog today about If You're Tired of Your Sacramento Agent.

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments (6)

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Elizabeth - It's unfortunate that sellers and the public really do not understand how much work goes into getting a listing, and what we do before we put that information into the MLS system.  You're getting results and that is why sellers are calling you!

Jun 06, 2013 07:02 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA
I was contacted earlier this year by a buyer in a short sale contract with another agent that wanted to hire me. Talk about an odd request. He's still under contract with that other agent for that short sale. In the meantime, we signed a Buyer Brokerage Agreement for other properties and he's already closed on one. Hiring the right person up front is critical to success, but so is being prepared to sell if it is a Short Sale and having realistic objectives if you're a buyer.
Jun 06, 2013 07:14 AM
Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

Listing appointments way in advance of an intended market date are always a little tricky. Price is a factor, but the prices we're talking about won't be relevant if you're not coming on market for another two months!

Jun 06, 2013 08:57 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hi Laura: We make it look too easy, I suspect. I don't get into details unless a seller asks. I figure they'd be bored.

Hi Chris Ann: Did you ever call that other agent and let him know that you're working with his buyer?

Hi Karen: Sellers stare at me in disbelief when I say the price doesn't matter until they are ready to list. It expecially doesn't matter on a short sale -- getting that short sale approved and closed is what's important. The price will be whatever it will be.

Jun 06, 2013 09:05 AM
James Dray
Fathom Realty - Bentonville, AR

Morning Elizabeth no one can respect the job until they have done it.  What looks routine is nothing but.  :)

Jun 06, 2013 07:45 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I remember listening to a gal talk to her friend in a supermarket checkout line.  She was contemplating becoming a real estate agent.  After all, she had been visiting Open Houses on weekends while her husband sat at home watching Football.  "How difficult can it be?" she wondered with her friend:-)

Jun 07, 2013 02:03 PM