I pride myself on being honest with sellers and buyers, but sometimes I run into people who don't want to hear the truth. I'm not certain what it is they want to hear. I suppose it could be the sound of their own words echoing back to them.
Last night I received an email from a prospect concerning a Sacramento short sale that is shown online as an "active contingent" short sale, meaning we have offers. The email was short and to the point:
Is the home at XYZ Street still available? Is it a short sale? Are there any current offers in on it?
How motivated are the sellers? What is their situation?
We would be very interested if the price were right.
What this tells me is the prospect is confused as to whether this home is a short sale. The prospect also seemed confused about its status and didn't realize that active contingent means we have an accepted offer and, like with most short sales, dozens of back-ups. They could be just starting out in the home buying process and didn't know that every great Sacramento home -- and this one is fabulous -- receives multiple offers. The types of questions they asked are those that a person looking to lowball might ask.
Inquiring about seller's motivation and situation -- which I'm not about to disclose to anybody as it violates my fiduciary relationship to the seller -- tells me they are probing to see if the seller will accept a lower price. This home is already priced way below market value; it would appear these prospects expected to offer even less.
But the last statement, saying they would be very interested if the price were right tells me they are not ready to conform to the marketplace. Buyers who refuse to conform aren't buyers. They are often delusional, people who think they are going to steal a gem of a home at a ridiculous price when homes are flying into escrow at prices over list.
I replied with a brief, succinct email, letting them know we have over-list offers, like any short sale, and dedicated buyers. I also said: "Please realize this is a seller’s market," hoping to enlighten and spare them future embarrassment. And I apologized for not having time to go into greater depth and explanation.
This morning that prospect blasted off a reply, saying my response was "shockingly rude for a REALTOR®." Excuse me? Some people are weird. Every day I count my blessings that I am fortunate enough in this depressed market to choose my clients.
Elizabeth Weintraub is an author, columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you.
The Short Sale Savior, by Elizabeth Weintraub, available in bookstores everywhere and at Amazon.com.
Sacramento Short Sale Agent, Elizabeth Weintraub, has the answers to your Sacramento short sale questions.
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Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
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The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
It takes all kinds! I guess they believe in what they read in the papers without understanding the concept of local markets. NEXT!
You never know in our market what type of buyer you will come across-It is good you replied to the buyer to let them know what is happening in our market.
Ah.... some people just want to hear what they want to hear and anything less ticks them off. I ALWAYS tell the truth and never sugar-coat anything. If they aren't happy with the truth, I say NEXT.
Shockingly rude? Sweet Elizabeth? Now that made me laugh this morning. You were frank. Some buyers just face it are tire kickers or as you said weird!!
Your story is an example of buyers that don't understand the process nor the market very well. That is why my first priority is to educate the buyer or seller, after listening to their expectations.
I think part of what the internet has delivered to realtors is the sense, on the part of consumers, that all potential buyers are "experts". I think your response was a good one.
Elizabeth, I'll take being honest any day over telling someone what they want to hear...to me, that goes against my personal code of ethics and would definitely not be a good business practice either! Great post!
Elizabeth
Sugar coating is a bad ingredient for any ambiguous recipe.
Elizabeth,
Sometimes people are in their comfort zone. Here - the king of real estate, who would make the life of an agent better, and the response simply throws him off the throne, hence he is unhappy. It is that he simply expected something different, that the Seller is desperate, and that he would accept anything that is offered, etc. And the whole scenario goes awry.
Most probably he likes the truth, he simply did not expect that the truth was so different. The truth was rude to him.
He will survive
I know it shouldn't amaze me how some people react, but it still does. I can't help what the market is doing; I can only relay the message. If people want to shoot the messenger, I just hope their guns aren't loaded. :)
Elizabeth - It makes you wonder why a buyer would be interested in what the seller's motivation is, when there are multiple offers, especially over list price offers. Perhaps they need to know how motivated the other buyers are; afterall that's who they are competing against:-)
As for "truth" - I think there is far less of it than we wish for. . .There are far more "versions."
Elizabeth - Those types are thinking the bottom is near ... they don't know that they missed the market. Things are bumping now and they don't want to hear it. Good thing you aren't working with him as he isn't realistic.
They were trying bargain basement shopping and going on a fishing expedition at the same time, and didn't get what they were after, as they rightly should not have.
If the answer is not what they want to hear it must be your fault. Too bad people have to react that way.
Bottom feeders are still out there trying to steal property. You turn on the news and you hear that you can buy a house for $20000. If the media would just TRY to keep up with what is actually happening in the market... maybe consumers would not be quite so confused.
Those buyers sent you a tart few questions and when you respond in kind, they took offense. You are better to have got rid of them without ever meeting them.
LOL...."some people are weird"....Good grief, isn't that the truth! Thanks for the laugh and for being YOU!!!