A potential buyer asked the following question on Trulia today.
Are Sellers being reasonable?
…my question to you Pros is, "are sellers being reasonable" - I know that not all sellers listen to their real estate agents and thus we see the property sitting on the market for a long time - do you think they're more reasonable now? What "give" if any are you seeing from the asking prices these days?
Being the "Pros" that we are, I’m sure we each have a “reasonable” answer for him and we would all probably make the connection that a seller being reasonable is based on that seller’s individual motivation.
The definitions of “reasonable”:
- Capable of reasoning; rational: a reasonable person.
- Governed by or being in accordance with reason or sound thinking: a reasonable solution to the problem.
- Being within the bounds of common sense: arrive home at a reasonable hour.
- Not excessive or extreme; fair: reasonable prices
I have my own questions:
Are Buyers being reasonable?
~ I want the seller to pay ME to take this home off their hands!
Are Banks being reasonable?
~ I’ll get back to you soon. I promise. Definitely before next Christmas!
Are Listing Agents being reasonable?
~ This home really is special! That’s why I told this seller I would get them $50k more than the last home closed for in this neighborhood!
Are Selling Agents being reasonable?
~ I know you pulled every string to get me an appointment to show your listing at 9 am on a Sunday morning, but when we drove up, my buyers realized it wasn’t right for them so we didn’t bother going in and I didn’t cancel because I’m just that rude.
Are Brokers being reasonable?
~ Don’t take it personally, we all need to work harder for less money
Are my kids being reasonable?
~ I want EVERYTHING for Christmas and I want it NOW!
(Don’t they know we’re in an economic crisis?)
What is really considered reasonable behavior these days?
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JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
732-598-6823 cell 732-536-4400 x116 (office)
JoAnna@JoTheRealtor.com
www.JoTheRealtor.com
Let's Connect!
Interesting post-you are right we need to see the whole picture being reasonable certainly does refer to every aspect in our everyday lives.
Who is being reasonable is hard to determine but I can definitely state that some sellers are still just fishing. They don't realize that they must come down in price to sell homes. Many are still unrealistic. Need to face facts.
That post was reasonably funny! lol. I agree 100%.
T - I'm glad you were reasonably impressed!
Kathy - Fishing... perfect analogy
I guess I just feel there is sooooooooooo much that is unreasonable these days!!
JoAnna- I really like your post and I don't think anyone in the Real Estate Industry is being reasonable, that is why we have some of the problems that we have.
Thank you Robert - I am a fan of your blog and your photo's.
I agree wholeheartedly with your comment.
I think that is what struck me.
When I read the buyer's question about sellers still being unreasonable.
There is a whole lotta unreasonable going on out there these days!
Are Bloggers being reasonable?
~ I want ALL my posts to go to the appropriate groups!
Waaaaaaaaaaaaaaaaaaaaaaahhhhhh!
LOL
Personally Joanna, I think everyone has become "spoiled" in one way or another. Guess that means most people aren't passing the reasonable test! Btw, loveee the photo of the crying baby. :)
I agree Amber!
Some days I'm better at tolerating the immaturity than others. The day I wrote this post I had really had it with the pots calling the kettles black!!
Many of the buyers I'm working with want to "take advantage of the market" and are expecting sellers to accept UNreasonable offers. I think the events of the last year and uncertainty in the economy has affected most people in a negative way and it's coming out as unreasonable behavior all around.
We often hear that "pricing a home right" will end up in a sale. Sellers may lament that buyers are being unreasonable but they do have to remember it's a buyer's market right now. If the price of a home is out of line with what the market analysis indicates they might not even consider making an offer on it. On the flip side, if my buyers like a home but feel it's priced to high I would advise them to make an offer at the level they feel the home is worth. The worst that could happen is that their offer would be rejected. However, on the other side of that issue, a seller may just be motivated to sell and come back with a reasonable counter.
Colleen, I agree and your comment was at the heart of my post.
I felt a little fed up of EVERY person acting unreasonable in their own way. There were a few days in a row where everyone I met was whining about something. It was one big "not-me" pity party!
Jon... "reasonable" counter offer... we need some reason put back into our business!
Sellers need to understand that the home sale process is a business transaction and act accordingly. They need to make the smartest decisions possible when presented with the facts. Putting their heads in the sand only clouds their judgment further!
Buyers need to understand they are purchasing a tangible item, with real value.
Agents need to remember this is their job. Job! A job requiring you to work. The order taking days are over!
My kids need to remember that they are lucky they didn't get coal in their stockings!