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Is telling the truth being negative?

Hi folks. Here it is Easter weekend and I'm still working! How about you?

By the way.....I couldn't find my damn Bunny suit!!!!

Such is life. Anyway, I want to talk a little bit about listing presentations. As most of you, know I am mainly a listing Broker and have been for 15 years. I've sold hundreds of homes in Central Florida and consider myself an expert when it comes to pricing and getting Sellers to hire me to sell their properties. It's what I do and I take it very serious.

Currently, my market is very difficult. Regular listings are just not selling and needless to say this makes my job more difficult. I can't walk into a listing presentation being Mr. Optimistic any more. Actually....I guess I could....but I won't. Giving Sellers "false hope" is the worst thing we as REALTORS® can do. Sellers, need to know, that selling their house is going to be very difficult even at the right price. If it's over priced...well forget about it. They will not get lucky in this market.

So my listing "pitch" has changed. I no longer go in with the attitude, "that if you list with me I will sell your house in 90 days guaranteed". Because chances are I won't. And Sellers need to know this. I can't make promises that I can't keep. If I did, my Sellers would be very unhappy when I start making excuses for why I didn't get their home sold as promised. Personally, I don't do excuses.

"But, Broker Bryant, why be so negative? Why would people list with you if you can't promise you will sell their house?" Well that's a good question. Folks list with me because I am 100% honest when it comes to market conditions. The market "is what it is". There is nothing I can say or do that will change that.

If I painted a rosy picture of the market, when in reality, it sucks, I would be doing my Sellers a disservice. I have more respect for my Seller's intelligence than that. They know the market is bad and because I tell them this they trust me. I'm not trying to sell them on my services. Instead I'm giving them the truth so together we can devise a plan that will give us the best shot at getting their home sold.

By having this attitude and using this approach I am able to keep properties listed until they do sell. My Sellers are also more receptive to making adjustments when necessary. They know, without a doubt, that I am doing everything I can to get their properties sold.

In this more difficult market, Sellers need a REALTOR® that is able to be brutally honest about current market conditions and pricing. Now having said that, there are still many Sellers out there who are living in la la land. And that's OK. It's their property and they can do what they want with it. It's their right to "hold out" so they don't have to "give their house away". They just won't be doing it with me.

I can assure you, there are many REALTORS® who will be happy to work with them. Of course they will be damaging their reputation and they won't get paid. But hey, maybe they'll get a Buyer or two off the yard sign. I wish them luck.

As for me, I will continue to be brutally honest and will continue to under promise and over deliver. I hope you will too. Will you?

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Posted by Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc on 04/11/2009 05:15 PM

Comments (31)

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31 Comments on Is telling the truth being negative?

APR

Reserved parking for TLW......ROAR!!

GET OFF MY SPOT!

Bryant - I have always used my Yankee directness. It doesn't always get the listing, but it will get the right ones!

BB, a "realistic" approach to pricing in a listing presentation is the ONLY smart way to go nowadays for all parties involved.

Hi Bryant... I always tell my clients that I will tell them what they "need to hear" and that may not be the same thing as what they "want to hear". Being honest is not being negative... it's living up to our duties and obligations to our clients.

I promise to do the same. As my Dad always says, it's easy to remember what you said if you are always honest.

The best thing about speaking the truth and with facts to back it up, you don't have to remember what you said that day.

It's the same thing you'd have said any day.

It's the truth.

Happy to know that this is working for you. I wish more realtors would operate this way.

I work with both buyers and sellers and honesty is the only way to go. What I am finding so difficult is an unreasonable seller and an agent that won't stand up to them. For whatever reason, this is very frustrating, especially when the buyers are being fair in their offers - equal to or higher than the recent comparable sales and the sellers still want more money.

And, as I am sure you do, presenting the truth does not translate to being negative. It is reality and that is all. I bet in the long run your sellers are happy with you.

Happy Easter.

Catherine in NY

Telling the truth is the best approach. However sellers still need our enthusiasm, don't they?

Bryant--I was always told that honesty is the best policy...Cliche yes but it is true. If you paint a rosy picture and a home does not sell, you look like a fool. If someone doesn't like what I have to say, backed up with numbers and want to partner in getting their home sold, then I am not their Realtor. I may have lost a listing or two but the headaches that come with overpriced, ill-prepared listings are just not worrth the pain.

Hope you and TLW have a very lovely Easter!

I'm with you we need to be honest with the sellers it will make the relationship better for everyone. You are right there are always some Realtors who ask what price do you want to sell????????

Better to establish a candid and honest relationship. In the end it's all most people want from us.

As for me, I will continue to be brutally honest and will continue to under promise and over deliver. I hope you will too. Will you?

Yep that would be me. Ouch sometimes I question myself when they go with highest price, especially when I see them lower, lower, lower, but...I just have to be honest.

yea....it sucks sometimes to be honest.

Bryant, It can be a tough balancing act for me. I was on a listing appt. recently, being very gentle with the seller (I thought) and when I came back with my price she asked me if I thought I could "get behind" selling her house because she thought I was a little negative. I was trying to be kind and realistic in telling her that most of her home needed updating. Someone else got it for 20K more and that's o.k. with me.

BB - Just this past week, I had a listing appointment with some nice folks. The older home was redone and also unique. With all the improvements they have done, I could not justify the price they wanted so I turned down the listing. They even told me they are realistic about the price and market.... as you said there are still owners that still living in la la land.

Hi Broker Bryant...just stopped by to wish you & TLW a blessed Easter!

Hi there BB, first of all, do you rent out for parties? Great look for you, LOL.

When I first signed on to AR your blog about how you prepare a cma was one of the first I read. I have been a fan of yours ever since. I have studied what you said, and am preparing my first cma a la Broker Bryant. I already gave them one speech, and will certainly be delivering the big speech on Friday when I meet with them. Thank you for sharing all your wisdom!

You and TLW have a wonderful Easter! And really, that is a great look for you, LOL. And I always thought that TLW was Superwoman in disguise... :D

APR

Funny you posted this now. We have recently had this conversation as we also have shifted the way go about listing appointments. And basically are doing what you are doing. Market really is what it is. ~Rita

They gotta know the truth if you are going to help them.

Howdy folks. I hope everyone is having a great Easter Sunday.

The reality in my market right now is that almost 90% of the sales are either REOs or Short Sales. The average seller doesn't have much of a chance.

I did however place one of my listings under contract this week that is a "flip". Can you believe it? Values are still plummeting and these particular sellers bought a property and flipped it in less than 90 days. Incredible!!

Andrea, Good luck with the listing. Glad I could help.

As always I appreciate every one stopping by.

Ooops...

I forgot you put up a post. My bad for being so self involved and working so hard to get our home back into some sort of working order :)

TLW...ROAR!

OH...

Love the pig suit. If they only knew what I know :)

TLW...ROAR!

brutally honest and realistic. They need and deserve to hear honesty from us. It is not all negative - if their goal is to sell their home and you are brutally honest, it is a positive that they see and understand exactly where the numbers stand so it can be done! It is also a business decision on my part and their part to turn down or take the listing or work with me or not; If they want to be dishonest with themselves - they can, but I won't participate in a bad business decision on my or their part for the market. They learn this as well in my presentation; usually it makes them listen to me more and helps the "pain" of reality and honesty soften and they tend to become more realisitc and USE the stats. When an agent takes a listing that they know is going to sit their forever - they hurt themselves and the seller in the long run with false hopes and a not so positive result in the end for anyone. It's a tough one out there for sellers with all of the short sales and foreclosures but YES it CAN be done!

BB, this is certainly a challenge in areas that haven't yet caught the Florida reality that seems to have hit sellers in other areas later in the game. We stopped taking regular listings some time ago; now that reality is becoming apparent to sellers, those that can reduce to reality will sell, those that can't will continue to have their property on the market for another year without a sale. Why the listing agents exend and extend, without a price reduction, is perplexing- better to just take it off of the market. Hope you guys are having a wonderful weekend!!!

I will always stand by the belief that honesty is the best policy. Sometimes it can cause temporary pain, but it's better than a permanent stain on your reputation.

BB,

No way in my area can I guarantee 90 days...I'll tell them I'll do my best to sell it fast if they price it within the market...but I can't give them the exact date..I wish I could ..then maybe I could say I'm a mind reader or a magician...makes no sense to give them a story that will never be...I'drather walk away from it. Kind of like...I'd rather turn you down now then to let you down later...Happy Easter my friend.

Hi BB - Yes, it is always better to underpromise and overdeliver, but whatever you promise, I think you will sell those homes if it can be done by anyone. If I have an unreasonable seller, I would rather let them know right up front that I doubt if I can get them the price they want, and that anyone who says they can may just really need a listing. Of course they might be able to sell it eventually, but if you want your house sold in the near future, it must be priced properly - and that includes competing with the REOs and short sales on the market. If they want to argue, I'm better off not taking the listing.

APR

Im so thankful that I dont have these problems. Well maybe I have the didn't get the listing problem to have another agent list it and the it just sits!

Bryant - I loved this post. It's absolutely, positively, 100% spot on true. Helping sellers pipe dream in this market, or any market for that matter, is silly. I say tell the truth, cut to the chase, roll your shirt sleeves up and get the job done. Love the pig suit, by the way. Laraine

APR

Yep, brutal honesty is my way of thinking. I lost two listings in the last 7 days because of it. I told one potential seller they may want to list with agent Willlistanything, but the client decided to wait until the market improves. I was proud of them for make an educated decision based on solid market data and not overpricing their home.

Things are going well for me. There are a lot of people out there who appreciate an honest approach.

APR

BB - Realistic and straightforward - that's the only approach in this market but there should be a tad amount of optimism. I use the average DOM for our MLS, and then let them know that my average DOM is much less because I focus on pricing it right starting out. They like to have something positive to grasp onto.

APR

Baby...

Still loving the Pig Suit. For some strange reason, I find it attractive. Oink :)

TLW...ROAR!

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