Want an Unrealistic Price? Fine. Now Find the Unrealistic Buyer Willing to Pay It.
Written by Devone Richard
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YOU CAN ASK WHATEVER YOU WANT
This is something sellers need to understand.
You own the house.
You can list it for whatever the hell you want.
Your Realtor says $900,000?
You want $1.1 million?
Fine.
Put $1.1 million on it.
But there’s one little problem:
You don’t get to choose the buyer who agrees with you.
That’s where sellers sometimes lose touch with reality.
You control the asking price.
The market controls whether anybody pays it.
YOUR PRICE DOESN’T CREATE VALUE
A seller tells me:
“I want $1.2 million.”
Okay.
Why?
“Because that’s what I need.”
That’s not a valuation.
“My neighbor is asking $1.3 million.”
Did they sell it?
“No.”
Then who cares?
“Zillow says $1.18 million.”
Did Zillow write an offer?
No.
An asking price is an advertisement—not proof of value.
The value becomes real when somebody is actually willing to put their money behind it.
FIND ME THE BUYER
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This is where I want sellers to think differently.
If every comparable sale says $950,000 and you insist your house is worth $1.2 million, I’m not going to argue with you all day.
I’ll ask one question:
WHO IS THE BUYER?
Where is the person willing to pay $250,000 more than everybody else?
Because that’s the only opinion that matters.
Your opinion doesn’t fund escrow.
My opinion doesn’t fund escrow.
Your neighbor’s opinion doesn’t fund escrow.
The buyer’s money does.
AND REALTORS—STOP PARTICIPATING IN THIS MADNESS
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This isn’t only a seller problem.
Realtors help create it.
Seller wants $1.3 million.
Comps say $1 million.
Agent knows damn well the house isn’t worth $1.3 million.
But they say:
“Let’s try it.”
Why?
Because they want the listing.
Stop it.
You’re supposed to be the professional.
If the numbers don’t support the price, say it.
I’d rather lose an overpriced listing than spend six months trying to convince the market to believe something I already know isn’t true.
THE MARKET DOESN’T NEGOTIATE WITH YOUR FEELINGS
You may love your house.
You may have spent $150,000 remodeling it.
You may need a certain amount to buy your next property.
None of that requires a buyer to pay your price.
Buyers have choices.
If your house is $1.2 million and a better house down the street is $975,000…
They don’t need to explain why you’re overpriced.
They simply buy the other house.
That’s how the market answers you.
THE WORST PART? YOU CAN CHASE THE MARKET DOWN
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You list at $1.2 million.
No offers.
Reduce to $1.1 million.
Still nothing.
Reduce to $1.025 million.
Now buyers start wondering:
“What’s wrong with it?”
Meanwhile, maybe the house should have been $995,000 from day one.
You didn’t beat the market.
You wasted your strongest marketing period trying to prove the market wrong.
And sometimes you eventually sell for less than you could have gotten if you had priced it correctly in the beginning.
FINAL THOUGHT
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Sellers, you absolutely get to choose your asking price.
It’s your house.
But you don’t get to force somebody to pay it.
Want $1 million?
Find the million-dollar buyer.
Want $1.5 million?
Find the $1.5 million buyer.
Want $2 million?
Great.
SHOW ME THE CHECK.
Because until somebody is willing to put the money into escrow, it’s just a number you typed into the MLS.
You control the asking price.
The buyer controls the offer.
And ultimately…
THE MARKET DECIDES WHICH ONE OF YOU IS RIGHT.
Written by Devone Richard
Broker/Owner | OYT Real Estate
California Broker #01857383
Nevada Broker #1002115
📞 626-500-1212 | 702-941-0202
🌐 OYTRealEstate.com