When House For Sale gets angry at House SOLD

By
Real Estate Agent with Better Properties Seattle

In my travels of the last 24 hours, I have noticed a lot of people who have been trying to sell their homes since April or so, getting very angry at those who have SOLD very quickly.

"Of course THEY sold their home...they GAVE IT AWAY!!!

These are the days, the important days that say "will you sell before November?" when owners decide IF they are going to sell their homes, stay in them, or rent them out.  Those who truly are selling vs. listing need to "get real" and realize that if no one has bought it since April...holding out for your price may not be the way to go.

The SOLD prices are all that matters, and to BE SOLD, you have to stop being angry and start getting real.  Personally, I don't think taking it off market in November and bringing it back next April is going to give you a better result than selling it today.  I don't think home prices are weak short term, and coming back by next Spring here in the Seattle Area.  My $.02...YMMV,

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Rainmaker
1,402,493
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Our market is not weakening short term either. My office is in Danville CA and demand is strong.

Jul 26, 2008 05:46 AM #1
Rainer
15,629
Peter Mann
Keller Williams Realty - Bellevue, WA
Peter Mann Seattle-Bellevue Real Estate Agent

LOL! That totally sounded like a line from a reality tv show called the "Real World". They say, "stop being poilte and start getting real". Sorry, just reminded me of that. Any way, great post Ardell. I think we have all dealt with sellers that are simply "unrealistic" in terms of selling their home. Like you had said, if it hasn't sold since April, holding out for your price is not the way to go. You understand that, I understand that, but sellers don't seem to get it. Which reminds me... I thought the sellers were the experts these days :-) With the constant media attention, Zillow, etc, everybodys an expert now right?

Jul 26, 2008 05:46 AM #2
Ambassador
628,186
Jeanean Gendron
The Address Realty - Redding, CA
Specializing in Selling Unique Properties

ARDELL, that is a good way of getting the point across. Helping sellers realize that now will be better than next spring is my $.02 worth as well. "Giving it away" mentality when it sells for market value is not understanding the current market trend.....for sure.

Jul 26, 2008 05:47 AM #3
Rainmaker
659,594
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645

I love the folks who tell someone who has had their home on the market for months that they are under priced.  I guess their advice is if they raise their price it will sell faster.

Jul 26, 2008 06:42 AM #4
Rainer
123,908
Nannette Turner
Keller Williams Lynchburg - Lynchburg, VA
Online Marketing Home Ownership Advocate Specialis

LOL I thought it was cute that one house would get mad at another!  But it is just like that!  No need to get mad, just get real.  Getting mad won't get you sold.  Do what the house did that got sold, price it to sell!

Jul 26, 2008 08:16 AM #5
Rainmaker
304,760
ARDELL DellaLoggia
Better Properties Seattle - Kirkland, WA

Randy,

I never did get that in any market.  Is it ever possible to be "under-priced"?  Wouldn't true "under-priced" be sold faster?  I don't get that logic when I hear people say "someone told me I should raise my price to sell it."

Jul 26, 2008 08:50 AM #6
Rainmaker
416,376
Mesa, Arizona Real Estate Mesa Arizona Realtor
Homes Arizona Real Estate LLC - Mesa, AZ
AzLadyInRed

Ardell, that's good....I hadn't thought about it quite that way before, but you are right! It's taking a long time for some sellers to get realistic...they don't want to give it away, and they "need" or "want" so much from it. I tell them that the buyer doesn't care how much they "need," only how much they're willing to pay. ;-)

Pepper

Jul 26, 2008 03:59 PM #7
Rainer
68,685
Alan 'AJ' Nisen California Contra Costa Mortgage Officer
A Large Bank in America - Lafayette, CA

Ardell, the center of the world revolves around each of us.  I guess the sellers world is one where their perceived value should be the reality, not the one that is happening before their eyes. It was a pleasure to meet you. AJ

Jul 26, 2008 06:43 PM #8
Rainmaker
1,244,593
Steven L. Smith
King of the House Home Inspection, Inc. - Bellingham, WA
Bellingham WA Home Inspector

Ardell,

I agree. I see lots of people who put in on, pull it off. Makes little sense to me. Ends up potential buyers know the whole scoop anyway and know if people are desperate.

Jul 26, 2008 07:04 PM #9
Rainmaker
215,151
The Brewer Team - Benchmark Realty
Benchmark Realty - Franklin, TN

Ardell - we had a panel of high volume agents in our office last week, and one of the big discussions was price reductions. One of the best has his sellers agree to a 1 percent reduction in price every month until it sells.

I did the same thing with my personal home 2 years ago, and it worked, but it did make my neighbors angry. They wanted the price to be higher, so they could ask more for their own home? The market will decide what the selling price will be. When the price is right it will sell.

Jul 27, 2008 01:53 AM #10
Rainmaker
272,575
Ross Quintana
Real E Smarter - Spokane, WA
Real E Smarter Real Estate Coach - 509-362-1966

Spokane Washington Real Estate Expert I agree as agents we have to balance getting the home sold and for the most money within the time that the seller wants,and taking the home off is sometimes worse, there is less competition during winter.

Jul 28, 2008 07:30 AM #11
Rainer
73,686
Pam Pugmire
Silvercreek Realty Group - Meridian, ID
Meridian Idaho Real Estate

I agree, in my humble but accurate opinion, the old prices were inflated and unsustainable.  The new prices are here to stay.  Deal with it, or stay put.

Jul 28, 2008 04:57 PM #12
Rainer
50,003
- -
- - Bogota, TN

It's all about do they want to price to sell or price to keep. Bottom line.

Aug 01, 2008 03:54 AM #13
Rainer
79,894
Nelya Calev
John L Scott - Bellevue, WA

Ardell

I could not have agreed with you more. Thanks for the great post

Aug 01, 2008 10:37 AM #14
Rainer
39,589
Edward W. Lui
Mars Hill Realty Group - Georgetown, TX
Georgetown Texas Real Estate

Good advice...just GET REAL and you'll sell it! 

Aug 18, 2008 05:51 AM #15
Rainmaker
139,690
Anna Matsunaga
Team Momentum Keller Williams Realty Tacoma - Lakewood, WA
Seller specialist, Certified Negotiation Expert

I always explain that the market will bear out the real price for a house and if a client really lists their home "too low" ( a neighbor) it will bid up to market price, so if the house sold, it was just an indicator of what the market will bear.

 

I actually have had some realtors mad at me for how I priced homes to sell as well.  I just think we all need to do the same.

Aug 21, 2008 03:45 AM #16
Rainmaker
534,689
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Ha!  Thats funny I've had that happen too! I'm out putting up a 'sold' sticker and sure enough a neighbour will come out and do just that, tell you you undersold!  Then they tell the Seller, ....that makes Seller very Happy.......and usually generates a call to Realtor........who then explains how very very savy the Seller was that he had such a Good Realtor  and that they're blessed to have had their house sell!  :-)))

Aug 22, 2008 04:41 PM #17
Rainmaker
798,409
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Very well stated Ardell.  Our market is actually declining in value each month, so if you are overpriced in April and have not had one price reduction and now it is August, you are now probably the highest listed home in the neighborhood.  Your home will never sell, as there are at least 20 more just like yours selling for less right down the street.

Sellers need to know what homes are selling for (not listing for), and decide if they can sell for that price, or take their home off the market.  It serves no purpose to the seller, the agent, or any prospective buyers, to have an overpriced listing on the market for over a year.

Either you are selling your home or not.

Aug 25, 2008 08:14 AM #18
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ARDELL DellaLoggia

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