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This is a great post written by Brenda Mulen about the importance of pricing a home properly from day one on the market. There's no point in overpricing a home just to get the listing. It's not fair to the seller.
Would You Rather I Lie To You To Make You Happy...
and then watch as your happiness and hope slips away into disillusionment....
I received a call for a potential listing from a previous buyer client I had a couple of years ago.
When I first got the phone call, the initial request was that the seller wanted to break even and possibly have a few thousand to spend on another home to where he was moving. I thought back and remembered that they had just purchased the home a couple of years ago. Not really enough time to build up a lot of equity in the home and adding to that, it was a VA loan. For anyone who knows what a VA loan is, it is a 100% financed loan and usually the funding fee and some of the closing costs are rolled up into the loan so that these costs are financed over time. Great for purchasing initially, not so great for selling unless you have had the home for a significant amount of time and the market is in good shape. Neither of those instances were true in this case. So...what I said to my potential seller was that I would do an initial search of his area and see what I could come up with but as I left him I said best case scenario is that you may break even.
So, I looked and of course, the market in that particular neighborhood is not doing so hot. There are lots of foreclosures, short sales, HUD homes and homes that are selling for waaayyy less than what he bought his home for a couple of years ago. My heart sunk for them. True to my nature and the way I conduct business, I gave them the call that told him that if we put their home on the market they would most likely be bringing thousands to the closing table and that they would probably be better off renting unless they had the funds to bring to the table. Now, they were happy that I was honest with them...but I haven't heard from them since I told them the news and I am a bit concerned that they might be getting a second opinion.
Trust me, no one wants to hear this news when they want to sell their home and no Realtor® wants to impart this news to a prospective client. In fact, my gut feeling tells me that there are agents out there who will tell a client that they can get more for their home with their marketing or who they know or a myriad of other tales just to get your listing and put their sign in your yard.
But let's think for a moment...why would I tell you this news if I knew deep down it would not get me the listing if it weren't the truth? Do you think that I enjoy losing listings? Don't you think that I would like to list every home that came my way to earn a potential income? This is in fact what I do. I list homes for sale and I love doing it. It is probably in my best interest (not your's)to actually lie to you because although I won't end up selling your listing, I may potentially end up with buyer and seller clients from your listing. I may lose your respect, or maybe keep you on as a client as I just shrug my shoulders and tell you it's the market. But...it would be good business for me...
Unfortunately or fortunately (depending on how you look at it) I am not this type of agent. I am honest to a fault and because of this, not only do I lose listings, I get to watch as you go into complete denial, list with someone else and your home sits on the market and you are used for the extra business for that particular agent. However, my philosophy is this...although me getting more business is good for me, listing and selling your home is ultimately about you and what is good for you, and shouldn't it be that way? Or...
Would You Rather I Lie To You To Make You Happy?
Would you like more information about the Guadalupe County Real Estate Market or do you need to sell your home in Schertz TX, Cibolo TX or Selma TX? Call Me, Brenda Mullen Realtor® Smart Moves Realty at 210-807-0819 or send an e-mail at firstname.lastname@example.org. I would be happy to prepare a Free Comparative Market Analysis for you and show you the marketing that will set your home apart from the rest! Can't wait to hear from you! --
Possessing good communication skills is one of the many keys to my success. I earned my real estate license in 2004 and believe that I have found my true niche. After making five relocation moves personally, I can empathize with my clients on a variety of levels; whether they are buying or selling.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.