What´s Worse than an Unrealistic Seller?

What’s worse than an Unrealistic Seller?

I think it is common for a lot seller’s to think their home is worth more than their neighbor’s house that sold down the block a few months back and therefore want to ask X amount more.

Unrealistic Seller What’s Worse Than an Unrealistic Seller?They have granite and their neighbor didn’t, so they add $5,000 more to their asking price.

They have crown molding and their neighbor didn’t, so they add another $5,000.

Their home backs to a hedge, which they call a preserve, so they add another $10,000 on.

The days of getting $20,000 for these items are LONG GONE and as a professional REALTOR I don’t expect sellers to understand this, it’s one of the many reasons why they hire us.

So what’s worse than an Unrealistic Seller? In my opinion it’s an Unrealistic Listing Agent

Having an unrealistic seller can be a big hurdle, but when there is an educated listing agent involved in the negotiation process an offer can turn into an executed contract.

However when the listing agent doesn’t understand the current real estate market it becomes 2 against 2, which usually ends up in a stalemate.

Sellers need to make sure they pick an agent who’s educated about the current real estate market, NOT the one who is going to tell them what they want to hear, like a high asking price not supported by the comparables. In today’s real estate market buyers are NOT going to over pay for a home and if they need financing their lender is going to make sure they are not over paying by having an appraisal done. Now a cash buyer who doesn’t need an appraisal may come along, but in my experience cash buyers want a “deal” and are not going to over pay either.

Originally posted at http://wellingtonhometeam.com/whats-worse-than-an-unrealistic-seller/

Photo courtesy of: Image: Salvatore Vuono / FreeDigitalPhotos.net

1 thought on “What´s Worse than an Unrealistic Seller?”

  1. Avatar of Larry Brewer

    I see this all the time, and I usually ask them if they would be willing to pay for an appraisal to insure that the house isn’t overpriced, and to have an accurate measurement of the exact size of the house. In most cases they start to backslide which means that they have some doubts. It saves me from spending too much time with an overpriced home.

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Sharon Paxson is a full-time REALTOR® with Compass and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyer’s, Seller’s, Landlords and Tenants with their real estate needs.

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