What does it take to sell a place in this market?

[sdrealtor]

Not to call you on that but dont you have an overpriced listing in Ramona for more than 1 year? How about the one in san carlos you held onto for about 1 year?

The truth is no one wants horribly overpriced listings. The reality is for a variety of reasons we all take them from time to time.

[SD Realtor]

Not calling me on that at all. In previous postings I have already said I have TWO, not one overpriced listings. These are both personal friends of mine. One was in Oceanside in the Fire Mountain area (and was relisted and finally expired) and the second is on Orange in Ramona.

Again, I have mentioned these before and if you like I can go trudge through the archives and find the postings where I did mention them.

SD Realtor

I have actually not mentioned it recently but here is one quick finding from August sdr..

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tg – most engineers are not
Submitted by SD Realtor on August 15, 2007 – 8:57am.
tg – most engineers are not so good at math as they are really bad in english…count me as one of those…

The example here was to show that there are cases where sellers drive agents, not the other way around. I do have two listings that are priced in a ridiculous manner relative the submarkets they are in. They have been on the market forever and are the proverbial dogs… In both cases I know the sellers and I gave them the same advice but in those cases I did take the listings as they are friends. Why they don’t want to lower the prices and sell is beyond me….

SD Realtor
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Please let me know if you would like me to post the exact thread it came from.

Also regarding the San Carlos property that actually was not horribly overpriced relative to the market there. If you looked at the San Carlos comps relative to that listing period the home while slightly overpriced at first was not ridiculously overpriced. As it was the sellers did end up chasing the market down drastically and ended up selling for close to what the recent foreclosure went for not to long before their sale.

Ball is in your court now.

ar

[sdrealtor]

Like I said we all take overpriced listings from time to time for one reason or another. Your previous comment about not taking them and claiming the big brokerages do more often was both false and misleading.

[SD Realtor]

I didn’t mean to be misleading however I do believe that the larger brokers do actually have more overhead to take listings that are overpriced. Pretty much every time I go to listing appointments, the clients say hey I have had other interviews with agents from *insert large broker name here* that said they believe my home will get this much for the home. In all those instances I tell them hey, you can list it for that much but in my opinion, you will not get much for it. So they invariably either list it with them or they list it with me at the higher price. I am trying now not to take those listings anymore but you are right, some of them I do take.

So let me clarify my point, I do believe that it is much easier for larger brokerages to carry listings that are priced in a manner that affords a lower probability of selling then it does for smaller brokerages with lower overhead.

In fact, in the older posting that I pulled the quote from, (where I spoke of the two dead dogs I had) that is a Lemon Grove listing that I did not take because the price that the guy wanted to price at was not what I agreed with, so he most likely listed it with his friend that worked for a larger brokerage.

Your point is very well taken however. In SOME instances we all do take overpriced listings, myself included. I just took one down on Valencia in Rolando, that IMO is well overpriced, although again, they are good friends who when they bought the place assured me they would be there for the long run but of course have since changed their minds and will take a huge bath. Another one was the Mira Lago listing down up in San Marcos. I begged the guy to list in the low 500’s when I took the listing and he wouldn’t do it… He stayed with me for awhile and it never sold… He said he would never sell at that price… so here he is with Prudential, after many many months on the market pending at 475k…

Now of course this is the same Prudential agent he said that he previously interviewed before he hired me who told him for sure it would sell at 550k due to the Prudential marketing power.

To finalize, yes you are correct, we do take listings that we sometimes view as overpriced. Personally I tell my clients flat out that I believe they are overpriced and in some cases way overpriced. Whether everyone else does that I am not sure.

SD Realtor

[drunkle]

you’re just an unscrupulous realtor trying to bag the easy cash by selling short and selling quick. just today on cnbc, a lady with corcoran group discussed lazy bums like you and how your kind was only in it for the quick cash. she said that *good* realtors were willing to let their own properties stay on the market for longer periods of time, waiting for the higher bids. and that that is the kind of realtor you want on your side, willing to wait the extra month or 12.

you scum.

[bonfire]

I sold my house in the San Bernardino mountains last October. I listed my house at what my realtor recommended, and it sat for 2 months. I then started lowering the price, every couple of weeks. My realtor thought I was being too agressive. But, by that time I had started reading Piggington, and conditions reminded me alot of the early 90’s. I finally got an offer, and sold at about 25% off of the original listing price. My realtor and my neighbors shook their heads at poor silly me. I laughed all the way back down to North County where I am renting until…?

By the way, find a rental or buy a senior condo or mobile home near you and your husband for your MOM whith the proceeds from her home. She and you will be happier in the end. Apply for Social Security Disability, and Medi-cal for her, she will qualify if you document her medical problems.

[sdrealtor]

SD R
A little common sense here that you seem to be missing. When you interview for a listing I doubt you are competing against HelpUSell, Assist to Sell, RedFin, Ipayone etc. People interview you because they are looking to save on commissions. I’ll bet you generally go up against the larger brokerages when you are in competition because that is who the neighborhood experts tend to be with. You get interviewed because you are cheaper and they also interview agents with the major brokerages because they “perceive” them to be better but more expensive. So any time you lose a listing to an agent who “bought the listing” it will generally be an agent with one of the big guys. That is your experience, hence you believe that to be the case. I can honestly say that after spending years analyzing properties for sale in my area that there is absolutely no rhyme nor reason to who takes the overpriced listings. Sometimes it’s the discount guy and sometimes its the major brokerage guy.

[SD Realtor]

Your synopsis is entirely correct. I do agree and that is usually the case.

SD Realtor

[bsrsharma]

I sold my house in ………….. last ……….. I listed my house at what my Realtor recommended, and it sat for … months. I then started lowering the price, every couple of weeks. My Realtor thought I was being too aggressive. But, by that time I had started reading Piggington, and conditions reminded me a lot of the early 90's. I finally got an offer, and sold at about ….% off of the original listing price. My Realtor and my neighbors shook their heads at poor silly me. I laughed all the way to ………….. where I am renting until…?

 

My experience too. This pattern is going to happen a lot during the falling edge of the price curve. Sadly, many Realtors have such a weak grasp on macroeconomic fundamentals that when the tsunami hits them, they think it is just heavy rain.

[want a good deal]

Speaking from experience, make sure your new place is either 1 story or has a full bed/bath on the first floor so as she ages you dont have to buy again because she cant get up the stairs. Also good idea to buy in an area where there are good health care providers. RB has the Sharp building which has excellent services but the closest hospital is out on Pomerado road and is small. Lots of oldsters so there must be stuff in the area.

[Author]

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