I just wanted to drop you a quick note to let you know that it will be OK. I'm going to come out to give you a listing presentation in a little while. I don't want you to freak out or anything, so I am letting you know what I will say before I get there. I want you to be reassured that nothing I say will cause you pain.
Let's start with the price.
I know that we are in the midst of a Buyer's Market, and I know that there has never been a house in your subdivision that sold for more that $250,000... even in the middle of a strong Buyer's Market. Don't worry. I know that your house is super special, and is worth at least $1,000,000. I might try to fight you down to $900,000 because of the slowness of the market, but I won't tell you that your house is only worth $199,000 like those other agents.
Now let's talk about condition.
I know that some of those other agents told you that the kindergarten art gallery/refrigerator needed to be cleaned up. I know that they told you that you needed to de-clutter and de-personalize. Don't worry. You have a beautiful family, and everyone wants to see your kids artwork... everywhere. And the Precious Moments collection, Barbie collection, NASCAR collection, Jeweled Dragon collection, and... whatever that other thing is collection will be fine. Everybody collects stuff like that.
The magenta bedroom with the shimmery silver bedroom set look... fabulous. The lime green dining room and the black and white striped wallpaper in the kitchen are fashion forward. Buyers love that. The last thing you need to do is spend money of a stager. Don't be silly.
Don't worry about the LP siding that has expanded. I know it looks like it might need a little paint, but let the buyers do it. They want to pick their own color anyway. Same with the roof. And the trim where the carpenter bees bored holes. And the landscaping. It's all good...
Finally, the commission.
I work for almost free. Set aside 1% for the selling agent (after all, this house will sell itself), and all I need is 1%. That is all. I'll be over in a few hours.
Still there? If you are really paying attention, you will know that I have blown everything out of proportion, but there is nothing here that I haven't seen numerous times. If you find an agent to take an over-priced listing, it is for one (or more) of the following reasons:
- They just don't know it's way over-priced... that's the agent you want... or not so much.
- They know it is over-priced, but they want the sign placement and the phone calls that the listing will generate. They won't press for a reduction, but they also don't care if the house sells... they are pretty sure it won't... that's another agent that is a keeper... not.
- They know it's over-priced, but they want to get their foot in the door. They'll work you over for the price reductions later. But, they won't spend time or energy marketing your property until the price comes down to a reasonable level. We have another winner... nuh-uh.
- They have a secret supply of buyers that love over-priced homes. Sure they do. Really.
- They get paid up front... whether you sell or not. They care.
Don't be so fast to judge agents that are honest with you. Of course, the first thing that comes to mind is that they want your house to be under-priced so that it will sell fast. But, the same people that tout this line also have a tendency to say that real estate agents are trying to drive up priced to make more money... which one is it?
In order to provide an appropriate level of fiduciary responsibility, I might have to tell you something you don't want to hear. You are paying me to be an expert. I am the expert. And, in order to protect your best interests (to sell your home for the most money in the least amount of time) I might have to tell you the truth. The first part of that statement is that my job is to sell your house. If I know that I can't, and take the listing anyway, I am not fulfilling the requirements of fiduciary responsibility.
Thanks... you know where the comment button and the rating buttons are...