The seller, a friend of mine, worked diligently to get her house ready for market, even going so far as to remodel a downstairs bath that needed repair and updating. She did some painting, changed out window treatments, and hired a stager and a landscaper. She rented a storage unit and moved some massive pieces of furniture to it. All spiffed up and ready to list, the house looked great for the agent tour, open house, and the photographs for online coverage.
She only wanted to put the house on market for three months, so my seller agreed to list at a moderately aggressive price. The family faithfully kept the house "show ready." Before every showing, they even made sure all lights were on and all drapes were open.
In spite of the tough market of the summer of 2010, the listing did generate some interest. When an offer came in, it was significantly lower than the seller's threshold. Eventually, the two parties came to terms; and we were under contract, though the seller was still uncomfortable with the price. Then came inspections. All of a sudden, the house that the buyers thought was the best house in their price range became a house with serious issues that would drive the price downward.
Did the inspector uncover hidden flaws? No. Everything cited by the inspector was visible to the would-be buyers. The buyers' agent had made one of those "I'll just test the waters" phone calls to me and had even revisited the house with her buyers several days before bringing the offer. She "worried" out loud about the age of the furnace and about the other perceived flaws that later showed up on the report. Their Inspection Notice was a death knell.
The contract went down and the listing expired. Fast forward to this week. The same agent now wants to do a one-time showing of my friend's expired listing. Her buyers have even driven by the house and looked at the formerly-posted photos.
"They love the house. There is nothing else nearly as good as that one in the price range. This is the one they really want," she pleaded. Her clients also phoned me directly, demanding to know why the house is not back on the market "now that spring is nearly here."
So I made the call to my friend. Her heavy furniture is out of storage, and her family has settled back into a routine that does not involve being "show ready" every minute of every day. They are enjoying the remodeled bathroom and still-freshly painted rooms.
They have decided that it's a pretty good house, after all; and it's not for sale.
See also, How Do You Pitch a House?
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