A few years back there was a weight loss contest at our Keller Williams Premier Realty office in Vadnais Heights, Minnesota. It started as a way for people to inspire each others weight loss and help keep to New Year's resolutions. A scale showed up in the office bathroom for participants to track their achievements. Though not a part of the contest, I stepped on that scale now and again. I hated that dumb scale...It seemed to weigh heavier than my scale at home by about five pounds or so. I didn't like the numbers, so I avoided the scale.
Last week, I decided to give the office scale one more chance...I have been cutting back for the past few days. Maybe the scale could be my friend after all. Well, low and behold, the scale was my friend! So friendly in fact, that I weighed a whopping 50 pounds less than I had weighed on my scale at home this morning! For a split second, the sun was shining brighter, birds started singing; everything was right in the world!
Reality Check....This is the office scale. Somebody who didn't like their numbers had probably kicked the darn thing against the wall after their weigh in. It WAS BROKEN!! I knew this on an intellectual level; but on another unrealistic, basic feel-good level, I wanted to believe the incredibly low numbers that I haven't seen my pre-teen years.
The euphoria of an unrealistic weigh-in was very short lived. A broken scale may give me a number I want to see, but not the number I need to know.
As I drove off to a listing appointment, I started to think about how some home sellers really prefer the unrealistic numbers of a few years back. They use a "broken scale" by measuring their home's value by their neighbors' sale price or a two year old appraisal. Some seem to think that they should get double the return of every penny spend on a remodeling project. And those who interview several agents and compare the competitive market analysis's (CMA's) will often choose the agent with the values their home the highest without question.
It's time for a Realty Reality Check.
As a Realtor, I work diligently to get good numbers, to be your scale and weight the value of your home appropriately and correctly. In this market many people do not like the numbers. If you don't have to move, you don't have to get on the scale. If you are not moving in the next few years, don't worry about the value of your home. The numbers will be different when it comes time for you to sell. Properly maintain your home it will retain a good market value.
Those have to move must step on a REALITY scale today. Due to a job relocation or change in family or financial situation waiting out the market is not an option. These sellers must be realistic when they step on the CMA value scale no matter how ugly the number is. They have to cut back on the junk and declutter their homes. They need workout hard to prepare the home for sale by making any and all repairs that potential buyers will find concerning. And they must have a proper realistic weigh-in with an accurate CMA from a professional Realtor. Take off the rose-colored glasses and listen to the professional advice of your real estate agent to get your home ready to sell and properly price your home from the start. Using a broken scale is not an option if you want to sell your home.
Other articles on 'Selling Your Home in a Buyers Market' that might be of interest:
- Is the "Busy Road Factor" Affecting the Sale of Your Listing?
- Home Sellers! You've Got to Know When to Hold ‘Em and Know When to Fold ‘Em!
- Teri's Top 10 Tips for a Quick Sale!
If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. Acreage homes are my specialty! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.