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Dear Seller...

Dear Seller,

I'm writing to you today with a very heavy heart, for the news I must deliver is not good. And while I realize this letter will come as a complete shock to you, I simply can't find the words to put it to you gently.

So here it is Seller, the plain, unvarnished truth as I know it: It's over.

Our glory days have come to a screeching halt. No more bidding wars, waived inspections or multiple offers. No more 20% increases in property values in a matter of months, and no buyers for your weekend remodel special. The shiny gold you bought has turned to straw.

A Buyers market it is and a Buyers market it shall be... as far as the eye can see.

But don't dispair my little Seller. We will face this challenge together - with courage and with determination. The old fashioned way. You will price competitively and I will market aggressively. WE will have patience. We will be kind to those making offers below our list price. And yes, we will make concessions.

We had a good thing going, you and I. You had a brand new pair of roller skates, and I had the brand new key.

Let Jennifer Bukaty take care of you!

But tomorrow is another day. The sun will shine again, the Buyers will come out to play.... and I promise that if you take my hand and follow my lead, we will get through these tough times together.

Sincerely,

Your Portland Real Estate Broker - Jennifer Bukaty

Posted by Allentown PA Real Estate Broker * Jennifer Monroe * on 08/07/2007 11:19 PM

Comments (35)

home buyers, sellers, real estate market, buyers market, investments

This post has been included in Oregon Information Multnomah County, OR Information

35 Comments on Dear Seller...

AUG

2007

Very thoughtful post.

I "get it".

It's "over" here too. Everyone knows its "over" here, except the folks who have homes to sell.

Unfortunately the same is true here in AZ. As hard as we try, it's nearly impossible to help some people see the light about the value of their home.

I absolutely love the things you have to say and the way in which you say them!!

Is that you in the rollerskating pic by the way? So cool!!!

LENN: I'm such a fan of yours, so it was a delight to see your comment here - thank you. You'd think this message would be crystal clear by now, but we are experiencing 'Seller's Denial' of every variety right now. The change was so sudden in some of our markets that it has come as a shock to many.

STEPHANIE: WELCOME TO ACTIVE RAIN!!! Jump right in - the rain water's fine :) Thank you for commenting here and I hope to see much more of you! Feel free to post your roller skating picture in your comments too - I'll just bet you have one!!

AUG

2007

Jennifer - Great letter - hope the Sellers in Portland appreciate the truth - ignorance is NOT bliss when you have a home to SELL in a BUYER's Market! :-)

Very good post! You nailed this one with an angle that can't be missed.

Jennifer what a great and truthful letter to sellers EVERYWHERE.

Thank you CYNDEE, DAVID and ASHLEY. Especially for reading my post. I'm trying to get the hang of this blogging business and even a few comments will keep me inspired to write :)

AUG

2007

Jennifer, I got into the market AFTER it tanked...I can't wait to see it swing up to where it was before I joined! You have given me a glimpse into a world of possibility!

AUG

2007

Jennifer, Great letter with a great analogy. Thanks for sharing.

JONATHAN: If you can make it in this market - you're pretty much set!

Thanks GARY! I was practicing this letter in the mirror to say to some of my current sellers, but then I felt so exposed in my skating shorts :))

How true, how true!

Haha...I bet you'd keep a lot of those sellers with those shorts!

LISA: You might be right! It is summer after all :)

Nice photo, fun letter. We wanted to thank you again for taking the time to comment on something we recently did. It was most appreciated.

GARY et al... no, thank YOU! I love your blog and you can expect to see me commenting regularly!

Jennifer,

BTW, I checked out your site and the featured listing... Sweet "four square"...Lots of charm! Did you stage it?

I'm not familiar with your market but, it seems very affordable (for what I do know)...

LISA: Interesting that you asked about staging. Most of this belongs to the owner, but I did re-arrange some things, removed others, you know the drill. And the home is priced low to make up for the location. It's on a hillside with challenging access. So add another 100k if it were in a Portland neighborhood. Trying to stay away from OPL's!

Aaah...I see... Very charming, though. I wish you luck with it!

No OPLs...good girl! ;)

AUG

2007

Very interesting take on what is such a sad market. It shouldn't be though. There are wonderful properties available now. Where are those buyers hiding? The market always goes in cycles. Now is the time to pick up those bargains. Sellers are dropping the prices right and left.

Keep writing. You have such a good insight.

AUG

2007

Jennifer,

You are a great little writer! I'm going to save this for my sellers. Thanks.

LORNA (!), KATHLEEN, and SUSAN: Thanks so much for the comments on writing, and I need to keep it up. I love it! It's been a busy week for me as Lorna points out, there are deals to be had for those buyers smart enough to get back in the game!

AUG

2007

Jennifer,

I'm so impressed with you. Your thoughts are right on and expressed in such a compassionate way. There are opportunities in this market, we just have to be a little more creative than we've had to be for a while.

Thank you for this.

Sarah... thanks! I'm so impressed with you too!! But you knew that already :))

Hi Jennifer! Great post. This is very true and I know the sellers will "get it" with a little time and patience. We must be vigilant and honest. :)

Pamela... You're quite the optimist and I sure hope you're crystal ball is accurate!

Good post and a good spin on the market as well. I love all the analogies

AUG

2007

Thanks for weighing in Donna. I don't suppose I could really be so analogous and expect the sellers to get it though :)

AUG

2007

Jennifer-

Nice post to your lovely blog! Thank you again for stopping by early to this 'rookie' in the forest! Your 'Dear Seller' letter pretty much says it for our market here in Arizona! It's a daily education I feel with my clients with their homes on the market! Keep up the nice posts!

AUG

2007

Candace... I'm working with a client from AZ right now and he says the very same thing about your market. But it's obviously turning here too, our sellers are just taking longer to figure it out. I'll be a regular reader on your new blog, you're a very good writer!

How original and creative. I loved it...especially the pair of brand new rollerskates.

OCT

2007

Very creative! Your an Excellent writer!!!

Thanks so much Rhonda & Aili!

OCT

2007

Great Post! And clever image too :)

Sarah... Funny you say that - my Mom was trying to figure out which of the other kids were hers! LOL

NOV

2007

Jennifer - I see that most have over looked the tiny jewel hidden in your note. We are in this together with our customers. We can choose to avoid them and hope that lightning strikes and their home either burns down or sells or we can just tell the damn truth and attack the market together.

Rather than bemoan the pitfalls that face sellers, it is much sweeter to take the time to show them what is really possible. This must be yet another of those "candy coated" messages.

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