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Which is Better: an Overpriced Listing or Crazy Buyer?

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Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006
Overpriced_listing.jpg

 

A few days ago I met with a seller who told me that Sacramento is experiencing both a seller's market and a buyer's market. She also thinks staging is decorating and buyers should always offer less than list price. It's important to know how your clients think because an experienced Sacramento Realtor can help to guide and educate her clients, which in turn tends to create more accurate thoughts.

Some agents would get upset if a client said those things to her. I think of it more as an opportunity to bring clarity and a way to share / showcase my knowledge. You can read more in my personal blog today at this link: An Overpriced Listing Versus an Overpriced Buyer in Sacramento.

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Weintraub and Wallace Realtors

 

 

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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.

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Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Good morning, Elizabeth -- every situation/conversation has the potential to lead to a greater understanding.  Sometimes this happens quickly...other times it can take a bit long longer and then there are those instances....oh, well...life goes on...and on....and still on.     

Jun 08, 2017 08:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Okay, Elizabeth... if I have to choose I'd probably choose the overpriced listing... at some point I think I might have a better chance to get the price lowered than dealing with a crazy maker buyer. (But I might feel differently tomorrow!)

Jun 08, 2017 12:11 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

That's a funny story about the buyer going directly to your seller.  Meanwhile, is his agent expecting to get paid?

Jun 08, 2017 12:29 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Yep, it does happen.  We can price homes at market value, but in a brisk seller market it's not uncommon for buyers to come in substantially above list price. The worry is always that the home won't appraise.  Sometimes they do, but most often they don't.

Jun 08, 2017 07:01 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Elizabeth, I have fired crazy buyers and did not take over priced listings so in my case, my attitude is: if you can not take good advice no matter if you are a potential seller or a potential buyer we will not be a good fit....Endre

Jun 08, 2017 10:13 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Michael Jacobs It takes a special knack to relate to certain people and to an extent it can be too exhausting to even try.

Jun 09, 2017 07:24 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Nina Hollander Since I don't work with buyers, the choice for me is much more clear.

Jun 09, 2017 07:24 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Chris Ann Cleland The agent's broker handled the final negotiations. He said they were removing the appraisal contingency, unless they didn't, then they wouldn't. Yeah. I know.

Jun 09, 2017 07:27 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Myrl Jeffcoat I generally do not worry about appraisals. Even in a seller's market. Because buyers are bridging appraisal gaps right now. If they are putting down 20%, they can change it to 10% and pay the difference to the seller. I worry about whether they have any money, not the appraisal. :)

Jun 09, 2017 07:29 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Endre Barath, Jr. Some sellers take a little bit longer to discover their price is too high. I'd rather they not list with another agent so I do take those listings from time to time. I have patience. I can wait. I want to be the agent that closes that sale.

Jun 09, 2017 07:33 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Great choices Elizabeth ... is that a trick question ... which is better ... hum? I guess we get to choose and as well as how we manage both! 

Jun 09, 2017 01:21 PM
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Elizabeth, as long as you can then talk them into lowering the sales price if it doesn't sell and it's over priced. Too often the seller then changes agents if it doesn't sell, only to put it on the market at the right price with another agent.

Jun 09, 2017 08:44 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Elizabeth... well that is one way to solve the dilemma! I would find it hard to give up my buyers, especially the relocating ones... I enjoy working with them and boy are they ever a great source of referral business for me.

Jun 10, 2017 04:52 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hella M. Rothwell, Broker/Realtor® Or, you can simply be patient. One of my first listings in Sacramento was about $100K over market. We all knew it and, in fact, the seller had complained that his long-term Realtor refused to list it. So I took it. Got a lot of business from it. And a year later, I sold that house at list price.

Jun 10, 2017 07:43 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

No surprises there, sellers always believe their house costs more, and buyers believe that they have to find a ''deal''. 

Nov 11, 2017 03:23 PM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Yes, it's a seller's market. However, the market will teach some irrationally exuberant sellers that they can't get whatever price they conjure up.

Nov 26, 2017 02:03 PM
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Elizabeth Weintraub Sacramento Broker

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  • Sacramento, CA
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Broker-Associate at RE/MAX Gold, Midtown and Sierra Oaks Sacramento office. Co-partner Weintraub & Wallace Realtors. Selling since 1974. Homebuying expert at The Balance. Weintraub & Wallace sells homes from Galt to Lincoln.
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Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for The Balance, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40+ years of real estate experience to work for you.

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