Getting the Deal Done – Thoughts on the Sacramento Market

JUST SOLD – 7113 Rimrock, Sacramento CA 95828 – It went into contract in one weekend with multiple offers – this seems to be the case on most listings these days.  I hate to admit it, but I only went to this property two times – once to put the lock box on and take pictures, and once to take the lock box off.  I began to line up lawn care and an open house, but it flew off the shelf so fast, none of that was necessary.  The other trend is cash offers from large investment firms.  It’s tough being on the buying end, especially with a loan offer, and even more so if it’s FHA.  We received over 15 offers and the first thing the owner does is “throw out” the FHA offers.  The negotiation phase is where I earned the commission… these investors come across firm, with a stance as though they won’t budge.  What they don’t know is, I’m an investor too and I represent many investors.  With this mindset, I was able to remind the seller that he held all the cards and there was a few more dollars to be made.  The classic price reduction came once in contract and after inspections – we reminded the buyer that there were 15 others in line that would be happy to scoop this up if they did not move forward at the agreed upon price.  There was a lot of squirming and posturing, but finally they conceded.  Reminded me of putting my two boys to bed at night – whining, flailing, a little goofing around, then they give in and fall  asleep.  Like raising children, selling real estate can look easy from an outsider’s point of view, but experience (success and failures/battle scars) and a lot of finesse goes into making the outcome a success

Keith Klassen, Broker – 916.669.9030