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Some Sellers Just Want What They Want No Matter What

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

Some Sellers Just Want What They Want No Matter What

I was out touring some homes today as a preview for several sets of buyers who are moving to Carlsbad. Most people seemed to be at the beaches today – no wonder, with the holiday and absolutely spectacular summer weather!

 

Overprice homes are a big seller mistakeAt one home the agent was not available but the seller was home so I was told to just go ahead since the owner was there and knew I was dropping by.

 

The property is in a nice north Carlsbad community with a pool and plentiful greenspace. The home has a large yard, which is unusual in that community, and a deck off the second floor with distant ocean views.

 

 

I had a few questions for the seller but they were minor.

 

He then, unsolicited, let me know that he had had 9 offers so far (the home has been on the market for almost 60 days…a little long in this price point for this market we are in so I wondering what might be going on).

 

Some were countered, more than once, and others never went any further. He told me flat out that he wanted his price (full price that is) and he was going to wait for it. He was not in need of selling and had another home, so he would just hang in there.

 

Clearly he is a bit unrealistic – the message is loud and clear. And he is not especially motivated.

 

 

I could almost hear his realtor shuddering when he told me what he did.

 

Sometimes full price is the WRONG priceBut if my buyer is really interested, at least we know what we are dealing with. An unrealistic seller who wants full price that is above market value.

 

There are a couple of lessons here. One, even in a seller's market you cannot expect to get full prize when that figure is above market value. The market is speaking loudly here.

 

And two? Well, as a seller you really don't want to be putting all your cards out on the table with agents and buyers. That's where your REALTOR needs to be involved.

 

I wish him well.

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (14)

Christopher Lotte
Coldwell Banker - Lithopolis, OH
Central Ohio Real Estate Agent, 614-390-9243

hey there ,

well, if there are some annoying buyers, and i must say there are some annoying sellers too.

Have a great Sunday...

Aug 30, 2014 12:11 PM
Jenna Dixon
Momentum Real Estate Group LLC - Marietta, GA
55 & Over | New Constructions | Horse Farms

So glad that in my market that it far more typical for no one to be in the home when I show my buyers. 

Aug 30, 2014 12:17 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff a good example of why it is a bad idea for a Seller to talk directly to Buyers or their Realtor/Agent.  What is the saying ..... "Loose lips sink ships" :)

Aug 30, 2014 12:28 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Christopher - so true. We just go with the flow, right?

Jenna - actually it's pretty rare that the sellers are home when I show homes

Jeff

Aug 30, 2014 12:33 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

You're right on all points Jeff.  At least you know what you're dealing with.  Though, this seller is not unlike the guy who's waiting to sell his Blackberry stock for $200 a share.

Aug 30, 2014 09:10 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning Jeff Dowler CRS ......that listing agent should have directed that homeowner to leave the home during the showing.... babbling did not help the cause....

Aug 30, 2014 09:28 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Not unusual.  Consumers don't understand real estate. 

Predicting actions or reactions of buyers or sellers is a waste of time.

Just MAKE AN OFFER.  A real offer in writing with all addenda.  We simply can't predict a seller's reaction to a Contract of Sale which his agent must present.

One problem is that many listing agent wouldn't "present".  They would simply talk about it over the phone where it's easy for a buyer or seller to reject.

 

Aug 30, 2014 10:45 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Oh, how many times have we heard "we don't need to sell"... well then, why are you listed? Arrgh!

Aug 30, 2014 11:00 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, indeed a lot of lessons here.  Sounds like his realtor needs to give him some advice on things including leaving for showings and keeping mouth shut.

Aug 31, 2014 12:03 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

George - that's a good way to remember that this can be a big problem

Gabe - ha ha, so true.

Barbara - well he did not follow me around or anything but when I went to leave he let loose. Guess he thought he was being helpful

Lenn - and buyers ask all the time, what do you think the sellers will do?

Larry and Sheila - good question. 

Debbie - I suspect this is someone who would not listen, or did not.

Jeff

Aug 31, 2014 01:31 AM
Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

HI Jeff, I had a listing that had six offers on it, and the buyer finally conceded with price. And consumers really do not understand real estate!

Aug 31, 2014 03:25 AM
Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Jeff - Try as I may, talking with some of my sellers about not "chatting" (and I prefer if they just take a walk - literally) I'm beginning to think of adding duct tape to my listing package!  Sometimes the chat is not so much about the "property" as it is just trying to be social and friendly ... the house is after all the only thing they may have in common.  Your experience ... not being friendly ... but drawing lines in the sand!

Aug 31, 2014 05:38 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Sharon - so true. At least the seller saw the light

Jack - I garee. They simply do not understand and they think they are being helpful. Although when you explain the potential problem sometimes it makes sense. Same too with buyers not saying too much in front of the other agent

Jeff

Aug 31, 2014 12:12 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Jeff. This person is not the first to have this kind of mindset and lose out in the end. Be happy you are not the listing agent.

Thank you for commenting on my post.

Aug 31, 2014 06:24 PM