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Just wanted to vent so please excuse my post. Finally found the perfect house for us & the seller is in clouds with his listing price. It sucks because I made a very realistic offer (well above comps) & the sellers refuse to budge or even discuss and found my offer offensive & yet their asking price is what is offensive. It's almost if their saying the buyers are stupid and will pay this crazy high price. Numerous showings and all the feedback is the same...OVERPRICED.....slap in the face!
Just stinks when a seller is not in reality and you kind of wonder why would an agent take such a listing as I would think it would harm their reputation as a knowledgeable agent and if the listing expires I would bet the sellers would not recommend that agent in the future. I'm sure agents feel when the market tells them what the property is worth then the sellers will come back down to earth & just want the listing. My issue is how long if ever will it take for the sellers to get real & can I wait it out without giving up on this property.
Just sucks when you want to buy the house and the sellers will not really communicate or try and work out a deal. Guess their just as frustrated wondering why someone will not pay their asking price..."but our house is so nice and we put so many upgrades the people should pay us whatever we ask".
Sorry gang just wanted to vent with folks that probably understand my frustration.....
... Finally found the perfect house for us & the seller is in clouds with his listing price. It sucks because I made a very realistic offer (well above comps) & the sellers refuse to budge or even discuss and found my offer offensive & yet their asking price is what is offensive.
Just stinks when a seller is not in reality and you kind of wonder why would an agent take such a listing as I would think it would harm their reputation as a knowledgeable agent and if the listing expires I would bet the sellers would not recommend that agent in the future.
Many sellers are detached from reality and the agents that represent them do not feel any compelling need to bring them down to earth since their commission is tied into the agreed upon sales price.
These days it doesn't hurt to have a forever listing as it will continue to pull inquiries from ZTR regardless of price. The listing agent can just lead the inquiries to something else that is priced fairly.
There are always sellers that feel their home is better than any other home anywhere near them and feel they should get a super premium price. Or the seller has tied their price to what they need to net when they sell. Alas, buyers don't care and in the end the seller will get market price, or not sell until the market comes up to meet their price.
Listing agents will advise sellers on market price and what it will take to sell. No agent wants to list a home that will never sell because they will never get paid. But the seller determines the list price, not the agent. I'm sure this agent made a good case for the offer...unless the buyer is being unrealistic on how good the offer real is. Which also happens frequently.
If it's out of your price range and what you're willing to pay, why did you look at it? If it's not out of your price range, and you're comparing it to everything you've seen in your range, and you feel this is the best house for you, do you not think that's worth a premium?
In today's market in many areas across the country, price has nothing to do with comps, but has everything to do with "what else is available in this price and how do those properties compare..."
Some times you have to pay more for a house just because it's the best option. Supply and demand.
It is unfortunate, but who is to say THAT price will not be worth it to someone eventually? It is not to the OP, so he might as well move on. Clearly the seller is willing to trade waiting time for a potentially better payout. The seller might be wasting his time, but it is his time. And you never know what will happen, so make your offer, then withdraw, but don't do anything to burn your bridges. You might get a phone call in the future where he has changed his mind.
It is unfortunate, but who is to say THAT price will not be worth it to someone eventually? It is not to the OP, so he might as well move on. Clearly the seller is willing to trade waiting time for a potentially better payout. The seller might be wasting his time, but it is his time. And you never know what will happen, so make your offer, then withdraw, but don't do anything to burn your bridges. You might get a phone call in the future where he has changed his mind.
A good post with sound advice. Whatever the asking price may be, chances are that there will be those prospective buyers who will feel that it is worth it to them. As the saying goes ... the price will be set by what the market will bear.
But, but but but MY home IS the nicest home!!! It's so much better!
My take on the OPs post is that maybe this house IS nicer than the rest and that's why he wants it so much.
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