To all who reads this,

Please forgive me but sometimes in this industry I just have to vent and it is always more satisfying to vent to those who understand.  Here goes.............. two years ago I had a listing which was a colonial that needed tons of work but was situated on 15 gorgeous acres.  When I had the listing it was priced at $469,000.  They weren't getting any attention so they withdrew the listing and decided not to sell.  That's fine.  It is back on the market now for $569,000.  All they did was  replace the garage doors and finish the front unilock walkway.

I have customers who would love this house and property, but as far as they can go is $475,000.  I called the listing agent today, told him this, also told him I had the listing two years ago when it didn't sell, told him I had customers that would be perfect for this property, and he said, sorry, the lowest they will go is $540,000.

What is wrong with people?  Don't they understand the market has gone down in the last two years?  What is wrong with this agent who wouldn't even entertain a lower offer and try to convince these people that, in this market, what my people would be asking is well worth it!

So, I will keep looking for my customers, and never, ever consider showing this property to ANYONE again!

Sadder, but wiser.

A frustrated buyer's agent

 
Post is included in group: ABR-Accredited Buyer Representatives
Post is included in group: ABR/REBAC
Post is included in group: RealtorsĀ®

10 Comments on Just venting regarding sale price

NOV
28
2008
615,409 Points 244 Featured Posts Localism Sponsor Outside Blog

Margo, I believe I would be writing up an offer for my buyers at the price they want. Let the agent present it to the sellers. You just never know what will happen. What the agent says really has no bearing on anythng unless he owns the house.

4:20pm • #1
110,823 Points 4 Featured Posts Outside Blog Hit Router

I would put it in writing. Somethng in writing carries a lot more weight and the agent has to present it - I would even ask to present it myself.   It sounded as though the agent did not even ASK the sellers... I find that when I have an offer in writing in my hand sitting in front of sellers it is just not as easy to say "NO." Good luck ! 

4:26pm • #2

This whole market is nuts and I think that they buyers and sellers have gotten more unreasonable with all the conflicting information......

I had a client earlier that I brought 5 offers too and they would not take them and ended up loosing there home.......and you know what they had the gall to say when I was taking my sign down....."You should have forced us to take one of those offers" OMG give me a break I told you the ups and downs......you made your own choice is what I was thinking......

I have made offers on properties this year where its the same thing......and then you see them on the auction block......

4:35pm • #3
121,532 Points 6 Featured Posts Outside Blog

I agree - put it in writing so that the listing agent has to present it to the sellers who are, when it comes right down to it, the ones who will be making the decision. 

 

4:42pm • #4
110,823 Points 4 Featured Posts Outside Blog Hit Router

YOU go for it! You KNOW that house and where it should be. And who knows on any given day if a seller's goals/mind is something different than it was a day ago!!!  

4:45pm • #5
233,029 Points 1 Featured Post Outside Blog

Make the seller counter or reject.  If you are confident that the home is overpriced, you may even want to do a thorough CMA for your buyers.  Best to you.

5:04pm • #6
Hit Router

I agree that you should have your buyers offer in writing and get it presented to the sellers. Sometimes, seeing it on paper will make them rethink things.

5:08pm • #7
NOV
29
2008

I have to agree with everyone here.  You should get it in writing ... But first you should make an arrangement to have your buyers see the house again.  Take them through and then have them present an offer in writing.  If you dont ask you dont receive, if you do ask you may receive.  then if the seller counters you at least have a foot in the door, if they dont you simple walk away and wait.  The sellers may come to their senses real quick.

12:01am • #8
NOV
30
2008
3 Featured Posts

I am going to have to jump on the bandwagon here too. Write the offer that your buyers are comfortable with and then the sellers will have to counter it or reject it. You might politely remind the listing agent if the opportunity arises, that whatever the owners think they want for the property, (unless your buyers are making a cash offer) the place is going to have to appraise for that amount in today's market. That should give them at least a little reality check.

2:52pm • #9

So did you write the offer?  I hope you did not tell the LA how far your clients were able to go. 

2:59pm • #10

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Margo Ramsey

La Grange, NY

More about me…

Realty Executives Williams-Sykes Realty

Address: 266 Titusville Road, Poughkeepsie, NY, 12603

Office Phone: (845) 485-9960 x 28

Cell Phone: (845) 416-4004

Email Me

honest answers to real questions about the buying/selling of residential homes. Totally generic in nature aimed at the average consumer


Links

Archives

RSS 2.0 Feed for this blog

Find NY real estate agents and La Grange real estate on ActiveRain.