What Happens When Home Sellers Need More Money?

By
Real Estate Agent with Lyon Real Estate BRE #00697006

Home sellers always want to know what they can do to make more money on the sale of their home. Some sellers might even be glued to a certain sales price, a number they roll over and over in their minds. Often, that number is not based on reality but on a future wish, a desire, a hope, a zestimate, ha, ha, ha.  Or, it's based on what their neighbor thinks, an unemployed war veteran, and if you can't trust a war veteran to provide top-notch financial advice, whom can you trust? And, we thank them for their service.

Or, maybe sellers believe all homes are the same size, configuration and nothing matters other than pricing. Like a loaf of wheat bread. Hey, Tom and Mary's house sold for a million dollars so we should get the same price, even though our home is half the size. Because, news flash, it's a seller's market! 

Some sellers believe their listing agents can manipulate pricing or we have a money tree in our back yard growing just for them. You can read more in my personal blog today at this link: Sellers Searching for that Proverbial Needle in the Haystack.

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Certified HAFA Specialistelizabeth weintraub

 

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Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.

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 Lyon Real Estate. 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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Topic:
Home Selling
Location:
California Sacramento County Sacramento
Groups:
Everything California
Northern California Real Estate Professionals
CALIFORNIA REAL ESTATE
Lyon Realtors
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Tags:
sacramento real estate
overpriced listings
how to price a home
unreasonable sellers
needle in the haystack
pulling money from thin air
pricing homes over market value
listing prices vs reality

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Show All Comments
Rainmaker
3,580,963
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good afternoon Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ,

It isn't easy to accept the truth about the value of your home but if you can't see it even in black and white  with hard core numbers listing will be a waste of everyones time! If you have to wait another 3 years to possibly attain that price you want it might be your only recourse.

Jun 30, 2018 10:34 AM #1
Rainmaker
2,885,523
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Elizabeth this is so true in any market, dream prices vs. real prices, hence thanks to zstemate ....    we have to work extra hard to show the real values with actual comps to the potential sellers... with that I grant you only one wish, work with realistic sellers:))Endre

Jun 30, 2018 10:51 AM #2
Rainmaker
2,623,800
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I just went through this with sellers this past week, who felt they "needed" a certain number. Basically I told them in as many words that the buyers doesn't care. It took a couple of days but we hashed out a deal.

Jun 30, 2018 11:15 AM #3
Rainer
450,353
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

Every seller wants more money for their home than their neighbors because they have x,y and z. Buyers know what they want to pay, that's where the buck stops

Jun 30, 2018 11:51 AM #4
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Dorie Dillard My years of 3-year listings ended with short sales, HA!

Jun 30, 2018 12:34 PM #5
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Endre Barath, Jr. I appreciate your idealistic view that if we just work a little harder to show those comps it will make a difference, LOL.

Jun 30, 2018 12:34 PM #6
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Nina Hollander At least yours came around. You would think leaving a home on the market without any offers would be proof the price was too high, but noooooo . . . sellers mistakenly think their agent could be doing something else that the agent is not doing. Like dancing naked under a full moon.

It is never their own stubbornness.

Jun 30, 2018 12:37 PM #7
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Sham Reddy Some buyers are total idiots. We told a buyer the other day we have 3 offers, all over list price, and he still wanted to offer $20K less.

It's like they misplaced their brains or aliens invaded.

Jun 30, 2018 12:38 PM #8
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Endre Barath, Jr. Remember that scene in Reservoir Dogs: stuck in the middle with me? Strapped to a chair under a bare light bulb. That's more like it.

Jun 30, 2018 12:40 PM #9
Rainmaker
2,885,523
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Elizabeth, tears are coming out of my eyes from laughing so hard, now that is a visual for listing presentation that will stay with me next time I go deal with a potential seller:)))))))Endre

Jun 30, 2018 12:44 PM #10
Ambassador
1,648,202
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

You made me chuckle reading this too, Elizabeth. :) It drives me bonkers when people make ridiculous statements. We cut loose some a pretty desirable project and listings because the seller had a bottom line that the values didn't support. His listings simply won't sell at the price he wants. Sure he owes somebody 10 Million dollars, but his properites will only net about 7 Million. He's gone. I'm keeping an eye on the current agent...guess what? Nothing's selling...

Jun 30, 2018 01:16 PM #11
Rainmaker
2,623,800
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Elizabeth... I'll go a long way for my clients, but dancing naked under a full moon is not one of my services as a full service broker!

I've been known to fire a client or two when they refused to listen to reason. At the end of the day, life is too short.

Jun 30, 2018 02:43 PM #12
Ambassador
3,497,599
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Elizabeth- as Larry likes to say "It is what it is." You can do what you can but at the end of the day it boils down to the market, location and condition.

Jun 30, 2018 04:39 PM #13
Rainmaker
3,738,431
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, it is amazing some of the conversations we have with Sellers, and their reasoning for the sales price they think it should list for!  

Jul 01, 2018 04:52 AM #14
Rainmaker
2,277,485
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Unfortunately, Seller's wishes don't match up with reality.  If it gets in the way of what they hope to accomplish, that can be a tough issue.

Jul 01, 2018 11:05 AM #15
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Debb Janes EcoBroker and Bernie Stea JD For me it comes down to will the seller eventually be reasonable? If, after 100 showings, nobody buys the home, will they work with a lower offer? If the answer is yes, then I'll take the listing.

Jul 01, 2018 01:10 PM #16
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Nina Hollander I am selling a home at about 80% of its list price today because the price was about 20% too high. If I hadn't accepted this listing, I would not be the seller's agent today. But I suspected they eventually they would see reason, and I really like the sellers. So those attributes makes the difference. And fortunately I have not been asked to dance naked under the moon.

Jul 01, 2018 01:12 PM #17
Rainmaker
2,086,219
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Kathy Streib Just for the sheer sake of snark, and because I do not like the term "it is what it is," . . . it sounds so defeatist, and sometimes, it is not what it seems to be, LOL, I will argue. I have clients who have actually demanded that I never use that phrase with them. Some people don't like it.

Jul 01, 2018 01:14 PM #18
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