Misinformed Sellers

By
Real Estate Agent with RETIRED 200305001

This post was inspired by Scott Godzyk  post this morning about Sellers waiting for more offers. I have 2 different cases doing that now.

I was involved in 2 different cases where the offers were close to Full price on OVERPRICED HOMES. The homes were priced  above market comps. In both cases the Buyers moved on after being rejected. Now several weeks later both homes are waiting for offers and wonder "what happened"? Its called misinformed GREED.

We are NOT an area of multipe offers, we have inventory!

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Rob Shepherd -  ABR, GRI, REALTORS® for Florence Oregon Real Estate
Expert in helping those buy or sell Florence Oregon property and retire in Oregon. Call me anytime or visit my website for local listings and information on Florence Oregon.
Email: mr.listit@gmail.com 541-991-0607

Comments (16)

Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Sellers can make poor decisions when they look for guidance in areas other than their own market Rob D. Shepherd .  I will go to Scott's post next, thanks for the heads up!

May 02, 2016 11:58 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The realtors who represent the sellers are the ones taking heat since they did not produce a single accepted offers.

If an appraisal is ordered that is the bench mark.

May 03, 2016 12:00 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Interesting post....that must be super frustrating....good luck

May 03, 2016 12:11 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Sad but true! I have seen this all too often and the first offer is almost always the best Rob D. Shepherd 

May 03, 2016 12:35 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

Unfortunately some people just have to learn the hard way.

May 03, 2016 12:51 AM
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

Lisa: So true.

Sam: Agreed!

Kristin: Thats not the "F" word I am thinking. LOL

May 03, 2016 01:44 AM
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

Paul: That is true!

Sharon: You know it!

May 03, 2016 01:44 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Hi Rob, Some sellers may be watching too much HGTV and don't understand that real estate is local.

May 05, 2016 12:20 PM
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

Sybil: I forgot about HGTV, you got a point there.

May 05, 2016 01:34 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rob, that is really sad to hear, and they may be waiting for a while for such great offers again. 

May 07, 2016 11:10 PM
Roy Kelley
Retired - Gaithersburg, MD

This is a good story to share. There will never be a shortage of unrealistic home sellers.

May 08, 2016 10:00 PM
Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

I too have a seller who received a full price cash offer right away and the the buyer disappeared. When the buyer didn't offer any earnest money, I encouraged the seller to request EM but they decided they just wanted to take the offer.  Now 45 days later it is back on the market and buyers are reluctant to make an offer since another buyer backed out.  Thinking there Must be something wrong with the home!

May 16, 2016 01:31 AM
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

Joan they still are.

Anna: I feel your pain. we now have a weak deal. that if it goes, the Seller net will be a few thousand less.

May 16, 2016 01:36 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

That's an intersting term "misinformed greed" but it describes the situation well.

May 17, 2016 11:31 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I do like that term Rob D. Shepherd. It happens often and I so try to have this talk with my sellers when we list and before offers start coming in. The best offer is often the first offer and in some cases the only offer. 

May 18, 2016 11:10 PM
Rene Fabre
ARFCO Media - Renton, WA
Practicing Philosophical Eclectic of the Arts

Here in my metro area if the home is priced right it'll be bidded up a few times as the offers come in and sell rather quickly. If it's over priced from the get go it'll sit there for quite a while, sometimes a price reduction, but often it's taken off market then later comes back at a lower price. Why put the seller through that? Good read Rob and very true... Real Estate is 'very' local.

May 22, 2016 02:01 AM