Sometimes we just need to walk away from a potential client, in this market where pricing and position is key to obtaining the desired results.

I recently, had a referral given to me by a friend of a friend this referral was a "FSBO". I was warned before meeting this potential client that "this guy is tuff", no problem I told my friend. Those are the ones I find most challenging!

Meeting Mr. FSBO and Mrs. FSBO was a pleasure, a beautiful couple with a beautiful home in Bristol County. Now they have a lot of pride in what they have built, as they should they did a fantastic job! They were just as enthusiastic about me coming out to list their home, as I was about discussing the marketing plan that I had put together for them.

They wanted me to list their  Bristol County home, they knew I was the one who could sell their beautiful home. Then whats the problem you might ask...? They want too much money and they know it! Not only do they want to much money but they want me to invest in the top marketing magazines to get them the exposure they deserve.

After explaining to Mr. and Mrs. FSBO, why I wouldn't list their beautiful Bristol County home at their price and at my expense. They insisted that that fact that they built their home with extra features that I should be able to showcase to attract a potential buyer, such as:

  • crystal door knobs
  • brass plated hardware on the cabinetry
  • water fountain built into fireplace

These are beautiful features, but I can assure you they will not convince a buyer to pay an extra 100,000 for your home. The house next door sold for much less and is a very good comparable property to yours, it just won't work at your price.

Mr. and Mrs. FSBO understand my position and decide they can't afford to sell at my suggested price. They will continue to do it on their own, I wished them the best of luck!

 

115 Comments on Hey FSBO...That Don't Impress Me Much

SEP
15
2007

Suzanne -- Sometimes you just have to say NO! w/ a smile

 

10:52am • #1
601,489 Points 111 Featured Posts Localism Sponsor Outside Blog
Yup...sometimes it's just a waste of time and in this market they'll find out.
10:59am • #2
183,134 Points 9 Featured Posts Localism Sponsor Outside Blog
That happens to be the case quite often and buyers that favor the FSBO market are typically the ones that need special help such as owner assisted financing in order to purchase... It's a heck of a combination, over priced homes and under qualified buyers... Not surprising the failure rate is so high and most FSBO's learn after wasting a few months and a few marketing dollars.   Maybe they'll be ready to list for the spring market at your price!
11:05am • #3
134,240 Points 8 Featured Posts Outside Blog

Aziz,

Always with a smile! Thanks :)

Sally,

They will find out, I can only wish them the best of luck.

Hi Dan,

I seem to turn down more listings than a take these days...maybe in the spring!! :)

 

11:21am • #4
269,458 Points 18 Featured Posts Outside Blog
Suzanne - great post - it's amazing what people mistakenly believe. Hope this article helps a few achieve their goal - and actually get their home sold. 
12:03pm • #5
134,240 Points 8 Featured Posts Outside Blog

Hi Cyndee,

Thanks, we can only help them so much. :)

12:09pm • #6
688,188 Points 145 Featured Posts Localism Sponsor Outside Blog Hit Router

Well you made the right decision, Suzanne. This one made me chuckle. Are you sure you don't think a would be willing to pay $5000 extra just for the crystal door knobs? The fountain ought to be worth at least $10K. Bet the appraiser would love finding comps and making adjustments.

Jeff

2:01pm • #7
134,240 Points 8 Featured Posts Outside Blog

Hi Jeff,

Thanks for commenting, It only takes one buyer....:)

3:20pm • #8
140,531 Points 1 Featured Post Outside Blog
Ooh, Ooh, I always wanted a water fountain in my fireplace! And they only want an extra $150k for it? What a steal! LOL When potential clients tell me things like that - a little voice inside my head keeps saying "Run away, Run away." Glad to see you ran away.
3:21pm • #9
134,240 Points 8 Featured Posts Outside Blog

Hi Sandra,

They were such a nice couple....it really was beautiful, the sound of the water was very tranquil. :)

3:24pm • #10
121,518 Points 2 Featured Posts Outside Blog
Suzanne, you're doing the right thing.  That's so hard to walk away at times, because of the nice people we get to know, but wow, they will take advantage of all our extensive marketing techniques and then be disappointed and pull out of the listing because they think we didn't do our job, if it doesn't sell.  Then we're left with a big cost and an upset, unrealistic seller. Great post and you did a fabulous job!
5:39pm • #11
134,240 Points 8 Featured Posts Outside Blog

Hi Julie,

Thanks for stopping by, I'm getting really good at it this year. I would rather walk away,than disappoint anyone with unrealistic expectations. :)

6:16pm • #12
240,306 Points 21 Featured Posts Outside Blog
One good thing to say about FSBO's... at least they're not flooding the MLS with extra homes.
7:00pm • #13
146,755 Points 9 Featured Posts Outside Blog
Good girl, Suzanne.  This is a lesson that I've been working on for some time now... it's not always an easy decision to make.  You did the right thing!
9:00pm • #14
134,240 Points 8 Featured Posts Outside Blog

Chuck,

Good point, thanks for commenting! :)

Hi Sandi,

I know its never easy! Thank you :)

9:05pm • #15
SEP
16
2007
213,280 Points 1 Featured Post Localism Sponsor Outside Blog
You did the right thing, not only for yourself but also for the seller.  You may just be the realty check they need !
6:09pm • #16
134,240 Points 8 Featured Posts Outside Blog

Hi Bill,

Thanks for commenting, I agree :)

7:24pm • #17
167,826 Points 3 Featured Posts Outside Blog

Good job with the client and this post.  Some agents take the listing knowing it's overpriced just to have their sign in the yard.  Listings are much different than SELLERS!!  You'll offer full service to SELLERS...they'll be back when they're serious and realistic. 

Nice article Suzanne!!

7:52pm • #18
134,240 Points 8 Featured Posts Outside Blog

Hi Susie,

I know some would disagree and take the listing, not in this market. I keep turning them away, I have become very picky about the listings I choose to take. Thank you! :)

8:22pm • #19
SEP
17
2007

Hi Suzanne

I've encountered people lately who want to both dictate my advertising. They seem to think of us as employees or something. When in fact we are investors who risk our time & money in hopes we can sell a house.

8:03am • #20
1 Featured Post

Yes, Many times you need to say no.  It is unfortunate but there are many agents who will say yes.  Sellers like these have gotten spoiled over the past few years and new it is time for a dose of reality for them.

 

I might have been willing to take the listing at their price, and even given them a discount on the listing side of the commission and advertised in all the fancy places they wanted their house advertised, but they would have to pay for all that advertising up front, so that they could see just how worth-less that stuff is.

 

James Boyer

8:09am • #21

Makes you feel all warm and fuzzy doesn't it?

8:12am • #22
10 Featured Posts

I got a chuckle out of the crystal & fountain. Several years ago I had a similar client that detailed all the extras they had added. Of course, backing up to that busy freeway wasn't one of them. The truck noise didn't bother them so they didn't think it would be a problem for the next buyer. DUH!

8:17am • #23
149,092 Points 7 Featured Posts Outside Blog

They will be back.

Even if someone writes a contract for that amount..... it won't appraise.

 

8:18am • #24
5 Featured Posts
Great job with being willing to walk away.  So many agents won't and they take the "above-market" listing and regret it much later.  I won't take those listings either... I've learned it's not worth my time and more specifically my money if they are not willing to price it where it needs to be.
8:26am • #25
116,167 Points 3 Featured Posts Outside Blog
Did you work out a future plan with them? Did they agree to cooperate if you bring a buyer? Are you marketing the home anyway with out the listing? Just curious if you just walked away or left the door cracked open?
8:28am • #26
Outside Blog

Suzanne, you did the right thing.  They asked you to buy a losing Powerball ticket listing their house.

To me Crystal door knobs are not something to pay extra for, but to take money away for as I'd want to replace them. 

8:40am • #27
1 Featured Post Outside Blog
mr. and mrs. fsbo will see the light and eventually list. i had one like that earlier this year. after spending 18months on the market with no sale, they finally saw the light. i listed them at the right price and i didn't need to invest in any marketing because the property sold in 2 days.
8:41am • #28
227,084 Points 12 Featured Posts Localism Sponsor Outside Blog

Taking a listing can be a very expensive proposition.  I know, I've done it before knowing that the listing has "challenges".  You're absolutely right though to tell Mr. and Mrs. FSBO that they need to step into the real world if they are truely motivated to sell!

8:45am • #29
Boy do I know that feeling.  I just met with a really nice couple -- the wife and I became fast friends.  They bought their home a little over a year ago and paid $170,000, which is what it appraised for.  They went in and put hardwood floors in the bathrooms, parquet flooring in the living room, added granite countertops, new sash to the windows, and added to the arch door entrances a beautiful wood design; however the home is an older home with very little closet space, no dining room, very small kitchen, small bedrooms, etc.  After preparing a CMA, it fell short by $45,000 of what they wanted to get from the sell.  I wish them the best of luck as well.
8:50am • #30
2 Featured Posts
They will learn the hard way at their advertising expense. They will come back and appreciate your honesty
8:52am • #31
187,851 Points 8 Featured Posts Localism Sponsor Outside Blog
I think this is so common everywhere right now.  Its hard when the people are so nice and you know they need to sell but they are just completely unrealistic.  Keep in touch, they may come around eventually.  I had one recently that finally came around after signing up for new listings on my site.  Day after day of getting other local listings & then watching what was selling & what wasn't, they finally realized they needed to alter the price significantly & list. 
8:53am • #32
4 Featured Posts

Suzanne,

And most think our Job is easy :0) They need to wake up and look at the market.

Tom Weiss

8:53am • #33
4 Featured Posts

I had a similar situation last week.  They wrote out a list of "upgrades" that warranted the $50,000 premium. I knew there was going to be an issue when I read the list.  Upgraded baseboards, upgraded linoleum.  Ufffff!  It doesn't work like that.

Sometimes you have to walk away.  I hope they come back to you when it doesn't appraise. 

9:08am • #34
111,290 Points 10 Featured Posts Outside Blog
People are just amazed that we can walk away from business. They truly don't understand the cost of an overpriced home and think we have deep pockets to fund the marketing. They also think we HAVE to list their home as we are not making any money in this tight market. Good for you to walk away. I have done it before and it actually felt really good doing so!
9:13am • #35
134,240 Points 8 Featured Posts Outside Blog

Good Morning everyone,

After reading all of the comments, it feels good to know most of us would have done the same thing. How I would have loved the opportunity to sell this home, but the numbers don't lie and this one was way off the comps to justify any extra marketing expenses. Not to mention the time that I would have invested.

Stand for what you believe, its actually quite empowering to walk away from a listing, more so when the people are nice. They know its over-priced but they need to find out for themselves, just walk away but always leave the door open for future opportunity. Thanks for all who commented, I will try to catch uo with you all individually. :)

Thanks to the Moderator who featured!!!

9:25am • #36
271,088 Points 41 Featured Posts Outside Blog
SUZANNE:  You were absolutely right.  No one will pay for those extra features, particularly in a buyer's market.  I gave this a 5.
9:37am • #37
134,240 Points 8 Featured Posts Outside Blog

Hi Adam,

Thank you, some we can't help. :)

9:45am • #38
I seem to be turning down alot of listings because of sellers wanting to overprice their home also. It is not worth me wasting my money on to advertise knowing that it is overpriced and no one will ever look at it. Good Job for turning it down!
10:03am • #40

Suzanne

Good for you. In this market sellers have two choices, price it right or continue to own it, no gray area. 

10:07am • #41

Suzanne,

I had the same situation.  The people wanted $100,000.00 more for their home than any other home sold for in their development.  They had raised the roof and created more bedrooms and baths so the home was bigger but the addition seems chopped up and the rugs were in bad shape throughout.  They kept pointing out all the things that really don't matter.  I told them to get a bank appraisal done because I told them it would not appraise. They are still on the market FSBO two months later.

9/17/2007 REmax of Cherry Hill Sally Mullen

10:14am • #42
Suzanne,
I am a new agent, but even in RE school we were told of these scenarios.  This is NOT considered a listing, but rather, it is called a LASTING! Fine Job on educating these folks!
10:29am • #43
Ah yes, Suzanne - thank you for the education.  Unfortunately, I am someone who just has to learn it for myself anyway.  I have a client who told me of a next door neighbor with a nice house to sell.  Well, this 85 year old charming lady kept escalating the price as we discussed listing her house, because she was afraid of the prices that retirement/55+ communities were going for.  I showed her counter examples, but she was firm.  So I said, okay, maybe I'll get some buyers out of it.  Well, buyers will not flock to an over priced house, even for an open house - they must sense it.  Oh well, it will expire in a few weeks and I learned my lesson first hand.
10:44am • #44
174,874 Points 44 Featured Posts Outside Blog
Suzanne - "Been there done that"  The last listing like that I walked away from was listing by another "desperate Realtor"  That agent listed the home the first week of June. They have reduced the price once already and the home is still on the market with 1 shoing and no offers. You and I did the right thing to walk away and "Kudos" to you!
10:49am • #45
I work with a ton of FSBOs and they ALL want to be overpriced.
10:57am • #46

Suzanne:

Great example of what seller's that go FSBO are like. It speaks volumnes that you walked away from this opportunity, I know a lot of agents that would have taken the listing and then would do the sellers price grind. Hoping to get the price down, in the mean time, the home is just sitting there, no showing, no offers, and a lot of time spent by the agent and money. There are better real estate opportunities out there.

Lorraine --Crescent Moon Realty, Inc.
11:19am • #47
317,298 Points 45 Featured Posts Outside Blog

Hi Suzanne - a 'waterfountain IN the fireplace'?  I've never heard of such a thing nor can I even picture that.  Oh well, but I'm sure it's not worth that extra amount of money they think it is.

When sellers give me a list like that of the things they did that should make their house worth way more than it is, I just ask them to put themselves in the buyers' shoes and ask if they'd pay $100,000 or more for those kinds of extra 'amenities'.  Usually they won't, so they ya go!  But some still just don't get it - and add to that a challenging market, and well, you did the right thing.  Why throw away your hard-earned dollars and efforts for nothing?!!?!? 

Ann

11:45am • #48

You go girl!!!! You show them that your a true realtor... We can only work with someone that is willing to work with us. We always do our best for our client. but sometimes they expect too MUCH ..... I know that you'll be blessed for make the right decision.....

12:09pm • #49

FSBO's are an interesting breed.  While I can appreicate their efforts, they usualy think that since they have read a few real estate articles, gone to some open  houses and pulled some flyers while walking their dog that this qualifies them as a real estate professional. I often find those who are a professional such as doctors, engineers etc are the ones that come in severely over estimating their knowledge. They weigh their profession against the real estate profession and conclude that, "if I can be a doctor or a mechanical engineer, I surely can sell me own home and do a better job than a real estate agent". I have countless stories that I have heard from these people, including my own siblings who are psychologist that not only are way out of line, but don't even make common sense.  Most are naive and don't have a clue, sorry to say.

 

Jeff- Reno, NV

12:12pm • #50
Hehehe  This reminded me of a past client that called me about 2 months ago.  I sold them their current house for $125,000 2 years ago.  They said they wanted to sell and move back to Florida so I said great and setup an appointment.  At the appointment they told me all of the things they had changed, new windows, new decking, fresh paint and some landscaping.  We were drinking some coffee and I was about to tell them what I thought we should put in on the market for and WHAM.  The Mrs tells me she has been looking on the internet and she has a price in mind.  I said great what are you thinking we should list it at?  THEN SHE SAID WITHOUT A CHANGE OF EXPRESSION $750,000.  Yes that's right $625,000 more than they paid for it 2 years before.  A price of $175,000 would have been a stretch.
Hehehe.  I told them politely that I couldn't list it for that much, thanked them for the opportunity and left.  It hasn't showed up on the MLS yet but I am looking for the vein of gold in the neighborhood so I can stake my claim.
12:51pm • #51
134,240 Points 8 Featured Posts Outside Blog

Hi Cyndee,

Thanks for stopping by again! :)

Hi Kim,

I hear ya, but its the right thing to do! Thanks for commenting :)

Terry,

Thank you, well said!

Sally,

Good-point, I also suggested these nice people do the same and get an appraisal.

12:59pm • #52
134,240 Points 8 Featured Posts Outside Blog

Bruce,

Thanks for commenting, I never heard of it referred to as a "lasting" but how appropriate! LOL!

Roger,

We live and learn! Buyers are educated and they know the market, when its over priced they will move on. Next...:)

George,

I'm sure there will be someone willing to take them on, but like you said "been there done that" , thanks! :)

 

 

1:05pm • #53
4 Featured Posts

Suzanne

Of course you already know you did the right thing....now you just have to stop in from time to time or communicate with them somehow. I have found, particularly recently, that FSBOs are willing to allow you to list their homes after a 60 to 90 day period when they realize that the home isn't selling, or even showing, and isn't going to sell. Amazing how lack of activity only motivates those FSBO's to set their pride aside, and call you for help. :)

1:06pm • #54
126,198 Points 5 Featured Posts Localism Sponsor Outside Blog

I think most of us have walked away from unrealistic seller prospects.  I had one who wanted me to up the price on his home by almost $100,000 because he had installed a $10,000 home entertainment system and sound system.

Some FSBOs are so absurdly priced that you'd think the sellers would be embarrassed to advertise them.  Jeff's comment above is a good one.  If they don't understand or value what we do, they assume they can do it far better on their own. 

1:07pm • #55
134,240 Points 8 Featured Posts Outside Blog

Hi Paul,

I actually love the challenge of FSBO's, I don't think they all have the same motivation for selling. The ones who are serious and want to sell in this market will step up to the plate....maybe after they find out the hard way. Thanks for stopping by! :)

Thanks Lorraine!

Ann,

Very beautifully done with the water trickling down the side of the fireplace, the sound was very soothing. :)

Jeff,

We can only continue and educate them as best we can, we will win some and unfortunately lose some. But at the end of the day you know you tried. :)

Dave,

How fast did you run...LOL! Thanks for sharing your story! :)

1:14pm • #56
134,240 Points 8 Featured Posts Outside Blog

Hi Bill,

You snuck right in here, I agree continue to follow up...you never know! :)

Eric,

C'mon surround sound is the "in" thing right now...seriously, I agree! Thank you

1:18pm • #57

They'll find a sucker who will be happy to just get a listing.  It will expire, and that process will likely happen again.  Then 1 year from now, you'll get the chance once again to market at fair market value...once they learn from the school of hard knocks.

1:54pm • #58
182,615 Points 2 Featured Posts Localism Sponsor Outside Blog
Congradulations on turning down anoverpriced listing, Crystal door knobs, give me a break
2:08pm • #59
142,741 Points 4 Featured Posts
I wish more of our colleagues would turn down over-priced listings. Agents and sellers need to live in the real world, not fantasy land. To do otherwise, hurts them, hurts us, and hurts the market overall.
2:17pm • #60

Good thing you didn't take the listing, it would only expire and another agent would get it and list the property for the price you suggested in the first place.

 

Vivien

2:22pm • #61
I wish more people in my area would turn down these over priced properties. I believe it does you know good as a realtor to take it. I think it's gets your name out there in a bad way and is bad marketing for yourself. Plus then when you go to list the house next door the people want to list their house for the same price and say well the neighbors got theres for that much why can't we??? Then try to explain to someone that the house is over priced... good luck! nice post!
2:32pm • #62
165,557 Points
The danger faced by any seller is NOT treating their home like a commodity. It's difficult to separate the personal feelings from a home, but to sell you must. 
2:52pm • #63
839,121 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router

Go, go, go.  Once we have more and more agents turning overpriced listings down, we'll get some price reductions and some SALES.

 

2:53pm • #64
407,323 Points 72 Featured Posts Outside Blog

Suzanne...

Are you saying that the new A.C. system I put in my home will not justify the extra $50,000 I want for the house? :)

TLW...ROAR!

2:54pm • #65
Localism Sponsor

Suzanne,

  I'd venture to bet that there are tons of interesting stories out there like yours...people just have a hard time seeing from any perspective than their own, sometimes! Good points!

Faith LaRosse

3:48pm • #66
Localism Sponsor

Suzanne,

  I'd venture to bet that there are tons of interesting stories out there like yours...people just have a hard time seeing from any perspective than their own, sometimes! Good points!

Faith LaRosse

3:48pm • #67
433,951 Points 47 Featured Posts Outside Blog
Suzanne - Don't forget about the heavy duty nails, the "fashionable" wallpaper in the foyer, and beautiful pergo flooring...LOL I always find it interesting the things that sellers translate in extra money for their homes.
3:54pm • #68
134,240 Points 8 Featured Posts Outside Blog

Christopher,

I know a few like that you mean the ones who like to have their sign in the front yard....LOL! Thanks :)

Michael,

Thanks, I guess they don't impress you either...:)

John,

I'm with you on that, this is the REAL world!

Hi Vivien,

Now that  hurts when it happens, just keep moving forward.:)

 

4:11pm • #69
134,240 Points 8 Featured Posts Outside Blog

Joshua,

Thank you...be part of the cure, not the disease!

Dan,

Too many can't separate their personal attachments, its really too bad. thanks for commenting! :)

Lenn,

Just say no! Thank you, Thank you :)

TLW,

Nice try...That reminds me of one I had a few months ago, wanted to take it off the market to install central air and re-list at a much higher price, no thanks! :)

Faith,

I am sure of it! Thanks for commenting :)

Hi Bill,

Thanks for adding, I have heard those excuse too! LOL! :)

 

 

4:19pm • #70
104,745 Points 2 Featured Posts Outside Blog
Suzanne - We can not afford to feed the ego of people who insist their home is worth more - especially at our expense. Do they not understand the buyers in the marketplace know the approximate value and we can't change their mind.
4:21pm • #71
7 Featured Posts

Hooray for you Suzanne.  I know that when I was a newer agent, I was bullied into taking a listing at a price I wasn't comfortable with only to have it expire with me wasting my time and my money.

Something that I don't think some newer agents understand is that you will probably talk to more people that you CAN'T work with than those that you can.  It is all a numbers game.  You have to get in front of as many people as possible and don't take listings that won't sell.

4:27pm • #72
134,240 Points 8 Featured Posts Outside Blog

Hi Paula,

I agree, not on my dime! LOL! I like to say "it is what it is" ;) Thank you

Hi Brett,

Good point! I agree its a numbers game and we turn down more than we take in this market! Thanks for commenting! :)

 

4:34pm • #73
408,861 Points 74 Featured Posts Outside Blog

Suzanne,

You should call them to tell them that it doesn't matter what you and then think it is worth...but how many appraisers will appraise it even at the price they might get a contract on it for ..and then what? cancel a contract after taking the home off the market..you might suggest they get a private appraisal done for a better idea what the going rate is and that still might not go with a buyers appraisal. You did the right thing.

4:46pm • #76
3 Featured Posts Localism Sponsor Outside Blog Hit Router
Good for you Suzanne. There are way too many people out there that truly need your help. If you are tied up with an overpriced turkey, you won't have the time to help the others. Congrats on the Featured blog!
4:46pm • #77
134,240 Points 8 Featured Posts Outside Blog

Hi Neal,

I suggested an appraisel, but they insist on doing it their way. I tried..thanks :)

Hi Lori,

You got that right, thanks for stopping by! :)

4:51pm • #78
Suzanne, your right, sometimes we do just have to walk away.  I've done it myself, and no regrets.  It is a business decision.  Good for you.
5:11pm • #79
134,240 Points 8 Featured Posts Outside Blog

Hi Tania,

Thank you, why take a listing you know wont sell...its a good business decision to walk away! :)

5:15pm • #80
Outside Blog
Way to stand your ground. I'm sure you wished them the best with their decision, but you can only be honest. Good job. 
5:22pm • #81
134,240 Points 8 Featured Posts Outside Blog

Ryan,

Why waste anyones time...Keep it real all the time. Thanks for your comment! :)

6:11pm • #82
I love it, doorknobs, hardware and a fountain worth 100k! 
6:20pm • #83
3 Featured Posts
Suzanne - I applaud you in keeping it honest and real!  Congrats on your feature!
7:15pm • #85

Suzanne- Congrats on escaping 'a beautiful death.' That must not have been easy for you to turn down, but it seems like it's better for everyone. I also love how concise explanation: "Nice features, but they won't convince a buyer to pay X dollars more." I'm going to borrow that indefinitely!

7:48pm • #86
1 Featured Post Localism Sponsor
Congrats on such a well written post - I still can't picture the waterfountain in the fireplace!
8:01pm • #87
Even when I was a brand spanking new agent, I knew when to walk away from a listing.  I had a hell of a hard time doing it.  In fact, I spent sleepless nights about it.  But I knew that investing my time and money into a listing that had no chance of selling just wasn't worth it. 
8:05pm • #88
124,077 Points 13 Featured Posts Outside Blog
With so many people talking about this exact thing it should not be such a mystery as to why smart agents are refusing listings yet, everytime I get in front of someone that wants to over price their property they look at me as if I just shot them in the head when I tell them no...uh HELLO!!! Timely Post Suzanne!
8:07pm • #89
134,240 Points 8 Featured Posts Outside Blog

Kim,

always...thank you! :)

Joshua,

There never easy to turn down, but you have too! Just remember to smile :)

David,

I wish I took a picture...it was really nice! Thanks for commenting :)

8:29pm • #90
134,240 Points 8 Featured Posts Outside Blog

Luba,

Good job, your right their never easy!

Hi Shannon,

I'm glad this is helpful...I know I can't believe it is still happening but we can just keep educating our clients with the facts. Thanks :)

8:33pm • #91
540,047 Points 35 Featured Posts Localism Sponsor Outside Blog

Here's how some of the agents on my team handle a situation like this (assuming they're asking $500,000):

"Mr. and Mrs. Seller, as nice as your home is and with all that you've put into it, if we ask $1 million, how many people will come to look at it? (None) ... and if we set the price at $200,000 we'd probably have a line around the block, right? So one of the reasons you hire me is to help you set a price that will attract buyers AND generate an offer. Let me ask you a question -- if we were down at the title company, the propery appraised, the moving van was all packed and ready to go, and you were getting a check for $225,000 (or whatever they would net at your suggested list price), is that something you would eeeeeeven consider?"

The goal is to take their ego and emotion out of the selling process, and have them focus on the end result. Often we end up listing somewhere between their price and ours, with an agreement to adjust the price within 2-3 weeks if we are not getting showings or offers.

9:59pm • #92
218,613 Points 3 Featured Posts Outside Blog

Sometimes you just have to say no and walk away. Because if you don't,you going to end up wasting your time trying to sell a property you knew deep down in your heart nobody will buy because nobody likes to overpay for anything. I have a whole of respect for you woman. A lot of agents would've lied and told them anything just to get a listing that you will never offers on. Great post.

10:49pm • #93
SEP
18
2007
146,456 Points 2 Featured Posts Outside Blog
With lenders getting more strict even if a buyer was to make an offer it would likly not appraise and fall apart before closing.
12:28am • #94
You are a classic Pro,Suzanne! Our "function" is to "list it"...our "purpose" is to "sell it". Thanks for encouraging the troops!
1:35am • #95
577,859 Points 95 Featured Posts Localism Sponsor Outside Blog Hit Router
Suzanne, Good you walked away, but I bet they call you back at some point so let us know.
5:37am • #96
134,240 Points 8 Featured Posts Outside Blog

John,

Great points, trust me when I say I tried everything. I agree taking the emotions out of the transaction can make the end result look sweeter...but some are just focused on what they "need" to get versus what the reality of the market really is. Thanks for your comment. :)

Lanre,

Awww...thanks you made me blush! I always follow my heart...:)

Ki,

Thanks, agree! :)

Hi Bob,

Thanks, you got that right!

Hi Missy,

Thanks, you got it! :)

 

8:04am • #97
The smart ones will be back.  The not-so-lucky will be on the market until they change their tune.  :)  Keep that head up and move on.  :)  Great post Suzanne!
12:51pm • #98
134,240 Points 8 Featured Posts Outside Blog

Hi Richard,

I agree, maybe when reality sets in. Thanks :)

2:48pm • #99
Suzanne- Nice Feature.  It looks like the sellers are still so "yesterday".  LOL
4:07pm • #100
134,240 Points 8 Featured Posts Outside Blog

Hi Bruce,

Thanks for stopping by, you are right that is so 'yesterday" LOL! :)

4:48pm • #101
248,073 Points 3 Featured Posts Outside Blog

Suzanne,

Some homeowners love putting in all sorts of expensive decor items for their own pleasure and many times they improve the looks of the house. However, brass hardware and crystal door knobs don't add to the value anything, contrary to what the owners believe. And it's hard to get them to understand that.

7:27pm • #102
134,240 Points 8 Featured Posts Outside Blog

Hi Esko,

I agree, they need to remove the emotional attachment to these items to compete in the market. Thanks for commenting :)

 

8:53pm • #103

Is it just say "NO" or just say "Go"? In THIS market you have to let them go...there are some serious sellers out there and then there are the one's like the above...It reminds me of a story years ago when I first got into real estate. There was this nice older man probably about 85 that had a FSBO sign out in his front yard in
Gold Hills. Gold Hills is pretty nice and the market was just starting to go crazy. He must have had about 25 Realtors either call him or go to his home (that's what he wanted). He was pretty cool about the whole thing...after giving him about an hour of my time and presentation he replied..." Son it's been nice talking with you! I get lonely and I love talking real estate so you see since my wife passed away I put that there sign in the yard and so far it's worked wonders! I haven't been lonely now for quite a while!! And oh by the way I have no intention of selling..."

 

Wow talk about knock the wind out of your sails.....Who was working who here?

 

Made me go and visit my grandmother....that's for sure!!  

Rick Goates
11:51pm • #104
SEP
19
2007
134,240 Points 8 Featured Posts Outside Blog

Hi Rick,

I loved that you shared this story! This would be a good one to blog about don't ya think...How about "The lonely FSBO" Thanks so much for stopping by! :)

8:17am • #105

Great post. Sometimes we forget that we're interviewing each other. We have to make the best business decisions and sometimes that means saying "no"

3:36pm • #106
134,240 Points 8 Featured Posts Outside Blog

Nancy,

So true now nore than ever! Thanks :)

3:49pm • #107
SEP
20
2007
1 Featured Post

I just wrote a blog about an overpriced listing yesterday.  Good for you, just walk away!

Sounds like you left on a positive note. They'll be calling you in a month or two!

 Good luck to you!

3:06pm • #108
134,240 Points 8 Featured Posts Outside Blog

Hi Ronnie,

Thanks for stopping by, I will be over to check your out! Always leave on a positive. :)

7:48pm • #109
SEP
25
2007
126,442 Points 7 Featured Posts Outside Blog

You handled it incredibly well and with grace. It's really not worth it to list a home knowing that it's a lose-lose situation.

Cheers,

Cindy 

12:08am • #110
134,240 Points 8 Featured Posts Outside Blog

Hi Cindy,

Thanks for your comment and compliment! Have a great day! :)

8:41am • #111
OCT
02
2007
424,125 Points 17 Featured Posts Outside Blog
You did the right thing. Just walk away or you'll go broke trying to meet the needs of someone who won't listen to the facts. The market is in decline. How much more money are these sellers going to lose, off the value of their home, because they wouldn't price it right to begin with. In the long run, they'll lose more money when they finally face the facts.
2:12am • #112
134,240 Points 8 Featured Posts Outside Blog

Hi Lisa,

Absolutely! I have seen many lose money, time and in the end they usually realize they should have listened to the agent that was honest with them from the start, its always bitter sweet. Thanks for commenting. :)

8:05am • #113
OCT
21
2007
261,321 Points 26 Featured Posts Outside Blog
I had not seen this the first time around - nice job - and right on target
10:01pm • #114
OCT
22
2007

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Suzanne Sands-Somerset, MA Real Estate

Somerset, MA

More about me…

Century 21 Associates Realty

Address: 230 Maple ave, Swansea, MA , 02777

Office Phone: (508) 677-3266

Cell Phone: (508) 496-1717

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