Unreasonable Sellers

I've turned down a couple of listings in the last two weeks. Understand that no real estate agent wants to turn down a listing and the potential for a commission! It's never something I do lightly.

But there are still sellers out there who are reluctant to accept current market conditions.  And, I understand where they're coming from.  I've heard "I need to get more money than that so I can buy what I want." The sad answer is that buyers could care less what you want. When you go shopping for your next home, you won't care a fig about the sellers predicament except insofar as that improves your negotating position. It's true for the potential buyers of your home as well.

A couple of sellers have properties that they bought as investments at the tail end of the red hot market. They tell me they will actually lose money now if they sell at the price I tell them they can get. And, again, they're right. And, again, buyers just don't care. I had to tell one seller today that I believe it will be several years before they're able to sell their property for a high enough price that they'll have a gain on the sale.

I've also had a seller whose home needed significant cosmetic improvement. They told me that they had no money with which to make those improvements. Again, I understand a cash crunch!  I've had plenty of them myself. But the truth is that what is selling right now are homes in excellent condition that are priced very aggressively. If you're not going to do what's necessary to make your home shine and you're also completely unwilling to lower the price to what the market will bear, there's really no way for me to help you.

And, I want to help you! I'm working with plenty of sellers where we're partners at beating a tough market. Even on the worst days I still feel good about how we're pursuing their goals.

Another agent this week said she's very frustrated that she's lost several listings this year to agents who promised the sellers a much higher sales price than they could possibly obtain. And that's tough! You know that the home will sell for that. In fact, I had one seller tell me they suspected they were being bamboozled. But hope springs eternal! I understand how hard it is to go with who you feel is the best agent when there's someone else who is absolutely sure they can get you more money! I'd just say, be wary. You know what they say about if it sounds too good to be true! There are plenty of agents who will tell you what you want to hear and are banking on getting you to lower the price to a more reasonable number down the road.

The latest numbers show that inventory is no longer decreasing locally. That means prices will continue to fall. But that's the subject of my next blog entry! So for now, just keep in mind that it's a tough market out there and you need to price your home aggressively and make sure it's in top condition!

For more tips for sellers, see my web site at http://www.JulieEmery.com