For Home Sellers

The uncommitted seller

Uncommitted sellers are the sellers who tell me they will sell if they get an offer that is an even amount and arrives on a Tuesday.  That might be a slight exaggeration.   They want to sell but they are inflexible on several details which indicates to me that they are not motivated sellers.  They will tell me that they want to try selling and if it doesn’t work out they will rent it out.  I don’t like the word “try” when it comes to selling homes and I generally stay away from those sellers and avoid listing their homes because I work for free unless I sell the home and then I get paid if there is a successful closing.    I work in a high risk occupation and am generally unwilling to incur more risk. 

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Unfortunately when I represent buyers I have no way of knowing that the seller is uncommitted.  The buyer wants to buy the home, we write an offer and the seller won’t negotiate.  When I talk with the listing agent I find out that the seller does not care if they have to take it off the market because they can’t get what they want.  They usually want at least 20% more than the home is worth.

I usually wish the agent the best of luck and give my buyer the bad news.  Sellers can ask as much as they want but most people need some kind of financing to buy a home and that involves banks and appraisals so good luck getting more than the homes are worth.  Sellers do not have to accept any low ball offer but nothing has changed.  Homes are still not worth what sellers ‘need’ to get for them.  They are worth what they are worth. 

The best way to make the decision between selling your home or renting it out is to find out how much it will sell for by asking a Realtor and then finding out how much it will rent for and then make the decision rather than putting it on the market and hoping that you get the amount of money that you need.  

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Teresa Boardman
Realtor®, MN,
Licensed Broker
Saint Paul Home Realty
651-216-4603
teresa(at)tboardman.com
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