How many times have you met with a seller and, after previewing their home, reviewing the comps, and evaluating the home’s condition, held your tongue when they tell you how much they think their house is worth? I bet this has happened numerous times, especially in this market. The next question is how did you respond?
Well, the response is key, it is the real deal, it is where real estate agents define themselves as professionals, it is the difference between “getting a listing” and “selling a house.” In our book, it is really where we pride ourselves on selling a house. We have been in enough situations where the seller has been unrealistic, impractical, illogical, and downright rude, but we never waiver from our true assessment.
What we attempt to do once the dust settles is explain to a seller that we will support them in their decision, as it is their ultimate decision, but we present all of the scenarios that probably will play out from best to worst case scenarios. In general, we have found that sellers will process the information, evaluate their priorities, and rethink their price decision.
Why does this happen 90% of the time? Because sellers just need time to process good, accurate, professional information. Sellers need to be educated in the market and where their home fits in the market. They need to be reassured that their home will sell, however, they need to decide what they are willing to do to move the process along in a timely manner. What we provide are all of the stepping stones and guidance for them to reach a final conclusion, whether it is price, condition or both. We present the obstacles and the solutions. We provide the ways in which to overcome buyer rejection/buyer apprehension.
What we don’t do is what we find some agents will do—stick a sign in the yard and hope it sells or that the seller will agree to price reductions along the way without getting “too” mad. We state upfront, that if a seller is insistent on asking what we consider an unrealistic price, then they will have to consider our recommendations to increase the home’s appeal and value to a buyer as well as explain that there may be price reductions along the way, regardless, depending on the market forces. What we don’t like are surprises—for the seller or for us. We present everything upfront and let the seller make the decision and, if they choose, roll the dice. We would much rather lose a listing before we even had it then end up losing it after we had it due to an unrealistic seller—a long and arduous process that never ends up having a happy ending.
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