Motivated Sellers Bring All Offers! We Are Running Out of Time and Desperate!

I got a 5 bedroom water access lake home appraised and listed it for the appraised value. It has been 45 days and we haven't had a single showing. I have been marketing it like crazy using professional photography with live video showing lake and virtual tour. Holding a broker's open and public open house after Easter. Any advice?? I used a quality appraiser who has a good reputation in the area.

Buyers also think they can get deals in today's market, too, so it helps to educate the buyer on true market value.  It sounds like you've had that conversation with your buyer!

Well, obviously that seller picked the WRONG listing agent! You'd have had them straighten up, listen up, and fly (and price) right! 

I hate the saying "motivated seller" it really help no one.

If a buyer is interested it will likely get them to lowball...and if a seller is highly motivated then the Realtor needs to discuss a lower price...not...bring all offers but we are going to keep our price high.

Beth- as a non-agent, when a listing agent shouts motivated seller it seems a disservice to the seller, even if the seller is digging their heels in and won't budge.  Either the seller wants to sell or not.  Not fond of the word games. 

Beth: I am not a game player and do not appreciate it when other agents are. Market price the home to begin with and avoid the "bring all offers" type of statements.

Beth,  I am so happy to see this post Featured.  I have to confess that I have missed opportunities to list homes because I recommended a list price that is in alignment with fair market value.  I'd rather be honest than to deceive a seller. We know our markets ... sellers need to know what their agents are saying and doing.  I wish you all the best with the investor you are working for. 

Some Sellers just have trouble seeing the logic of the right price and Buyers too! It takes a determined and skilled Agent to help them. That's why I laugh when non pros think our job is easy !!

I have a seller that kept wanting me to put that in MLS and call up other agents and tell them that. I told her how it would be interpreted and she changed her mind. We now have it under contract at full price.

Interesting post.  I have used the phrase 'motivated seller' in the agent comment section of listing.  I see both points of view--yes the seller is willing to negotiate and the agent indicates--bring us an offer. I don't usually see this phrase on grossly overpriced homes like you did.

Good morning Beth Atalay ,

Congratulations on the well deserved Featured Post. Sellers who hunt for agents who will list their house for what they want are not motivated sellers and end up with far less for their house and lots of aggravation!

Beth, this frustrates me as well. If they are willing to accept a lower price and are seriously motivated, why won't they just list at the lower price and sell the darn thing?!? That's the fault of a bad agent in my opinion.

Yes, I'm desperate to sell my property... for over the market price. 

Your buyer-marketing tactic is a good one, by using the right words, such as 'not interested in listing your house'.

RE sellers have been over-hyped with so much for so long it's hard for them to distinguish reality from fantasy.

Makes our job a bit harder.

I have no answer to your question Beth - I wonder the same exact thing. Why?? Desperation has never been a good sales strategy. 

It's a shame that homeowners now believe that "I have a buyer for your home" is just a line.. too many agents following the same marketing guru? 

Beth, I find that honesty is the best policy.  If sellers can't trust the facts and our professional judgment, that's problematic.  Unfortunately, sometimes the best option may be to walk away and let them work with an agent that tells them what they want to hear.

Beth Atalay - two things don't go together - motivated seller and overpriced listing!

Now for that, a PRO needs to explain this to the seller and not anyone who just wants the listing.

Beth - I read the desperation well in your post!  I just did this exact same thing, but I typed letters directed to each home that my buyer client is interested and hand delivered the letters to those that answered the door, then mailed the others, all 55 of these letters went out.  It was an interesting exercise.  I met two very nice couples who might sell one day but I'm still looking for my legitimate buyer.  It's a tough market out there!

Great post Beth.   Today I was wondering why I hadn't seen the new listing in my own neighborhood on the MLS while I was busy combing for ideas for several active buyers.    So, I expanded my search parameters to ALL homes for sale in the area and VOILA - there it was!   Listed at least $100,000 over what I'd expect it will sell for.     As you wrote, "Some buyers do indeed overpay for a home but..."

Yes, I do think motivated sellers sometimes overprice their homes. Sometimes it's the agents fault but often seller's just won't listen. I recently listed (and sold) a home that we initially overpriced. The seller was an older gentleman with serious health issues, including dementia. He'd already moved into assisted living and really needed to sell quickly. His brother was assisting him.

They almost listed with an out of area broker but after a break in the seller wanted a local agent vs one that lived 1 1/2 hours away. Because the original agent told them a price that was way to high I had to initially list higher than I would like (I did thell them it was too high) but we did sell after a couple price reductions and a failed sale (due to inspection results).

The funny part of the story is that an investor with a rental property around the corner called me for a CMA. I listed and sold that one too but this time the seller thought my price was too high (how often does that happen). He wanted to list about 15% below my recommendation. I got him to list halfway between his price and mine, sold it for full price the first day.

Both sellers told me at closing " I wish I'd have listened to you about the listing price."