I truly believe that consumers live in one world and their real estate agents reside in another. We see things from totally different perspectives. As a Sacramento short sale agent, I don't expect sellers or buyers to walk in my shoes, but I do try to walk in theirs. For example, for years I have subscribed to newly matched listings from MLS for the neighborhoods in Sacramento where I live and work. I keep tabs on homes in Land Park, Midtown Sacramento and East Sacramento.
I simply signed myself up for listings a while back. That's because I want to see things from a seller's and buyer's perspective. Of course, I can go into MLS and check my "hotsheet," which spits out activity over the past 15 days in 95811, 95814, 95816, 95818 and 95819. However, when I'm looking at those listings, I'm also reading the confidential agent remarks, clicking on the APN number for property history and mortgage data, plus I know who those listings agents are. That information can color my point of view.
But when I look at the emails the public receives from me, I'm examining the marketing efforts from a different angle. It paints an alternate picture. So, it's that picture I'm after when I list a home for sale in Sacramento. Especially a short sale. Because short sales are twice as difficult -- maybe three times as difficult -- to sell over a regular home in which a seller has equity.
The strategy involves more than pricing. While home pricing is important, price is also not the only motivating factor. Sometimes, I might suggest a price that is below market value to induce multiple offers, which invariably will raise the price. Other times, it might be better to come on the market a bit overpriced to allow for lowball offers and buyer credits. Because I list short sales all over Sacramento, I realize that each neighborhood and locality is different, and I try to make allowances for that.
There is no cookie cutter approach to the short sale business, nor to real estate, for that matter. Everybody is different; each situation is unique. Nobody will ever figure out my strategy because half the time I don't even know what it is myself until I am confronted with it. So, I found it amusing when an agent called yesterday to say he knew exactly what I was doing. Oh, yeah? Well, maybe I'm digging through my closet to see if I have anything suitable to wear to the Zombie Walk for the Trash Film Orgy festival tonight. The thing is you just don't know.
Photo: Big Stock Photo
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