Special offer

What do you mean you want a price reduction? You only showed the home 20 or 30 times!

By
Real Estate Agent with Coldwell Banker

I stood there without a word to come back with. Stunned, mesmerized, confused. Did I just hear that? I could have spit.

tom braatz

You see Mr. Seller, part of my job is always delivering the bad news as well as the good. I think the good news would be that we are ready to close and I look forward to shaking your hand. The bad news is never on the front of my daily planner. I don't wake up take my diabetes and heart medicine and say "today, is going to be a productive day because I get to face the music with price reductions"

Okay, work with me on this. I know I only showed the home 20 or 30 times. If you want to get mad at me I will tell you to get mad at the 50 or so cards in the stack of other agents that showed the home as well. After all, if I have something to say you would want to hear it and not have me paint just a picture. It's your home.

tom braatz

You see, I want your home to sell. I know it's a nice home and I like nothing more than going to closings verse the non functional obsolesce alternative (bankruptcy if I don't work really really hard). So what do you say, let's have a closing because I am leveling with you as well as all the other agents I told you about telling me the home needs a price reduction. After all, we rolled up our sleeves with the ideology of getting to a closing, now lets make sure it happens.

Have a productive day and I will see you at closing!

tom braatzWaukesha County Real estate,Waukesha County Lake homes,Lake Country Real estate,Oconomowoc Wisconsin Real Estate,Waukesha County Lake property for sale

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Comments(8)

Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Tom,  I feel your pain.  I've also found that having that whole price reduction thing early on works so much better.  Try to set some bench marks which trigger a reduction.

Jan 08, 2012 06:49 AM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Bill, every two to three weeks

Jan 08, 2012 06:53 AM
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

This stat is old, but NAR used to say that for every 10 agent showings of a properly priced home, you should get an offer.  If the property has been shown 50-75 times and an offer has been received, the price is absolutely wrong.

The question that you need to answer Tom is do you want to keep working with someone that is so completely detached from reality???  Best of luck... whatever you decide.

Jan 08, 2012 07:04 AM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

AJ

Not a stat. A lake property that is rather hard to sell.

Jan 08, 2012 07:10 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I put the price reduction timeline n the CMA.  We work together and if they aren't reducing the price per my guidelines they aren't doing their job either :)

Jan 08, 2012 08:14 AM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

Did that with regular listings but it's harder here becasue some reductions are 50k at a time

Jan 08, 2012 01:19 PM
Jo-Anne Smith
Oakville, ON

Good Morning Tom,

I've found that when a Seller has a lot of emotional attachment to their property, the value they have in mind is quite out of sync with what the market will bear. They keep hoping and believing that someone will come along and attach just as much emotional value to the property as they themselves have. You and I know it just doesn't happen that way.

I hope it sells for you soon....maybe with the lengthening days and spring on it's way.

Jo

Jan 11, 2012 02:38 AM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Jo

Thank you very much for the kind words. I always appreciate your vote of confidence and comments very much

Jan 19, 2015 09:32 AM