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Darn It! I Was Hoping I'd Be WRONG!

By Nancy Conner

Industry Observer

April 29, 2013 08:03 AM

You know how, sometimes, when you show a particular house, you know it likely will not last long on the market? It's that intuition born of real estate market experience, and seeing the listings available in various neighborhoods and price ranges (or lack thereof).

For sale sign

This weekend I showed one of those houses that gets that little voice in my head SHOUTING "This will not be available long!". And so I said so to my buyers. I did avoid shouting it at them, even though my intuition was certainly shouting at me. But they were going to need to talk about it and think about it overnight....

I know you have already guessed what I'm going to say next.....Yep - this morning on the MLS "hot sheets", that little house shows a brand new status change to pending. Rats! Just when I was hoping I'd be wrong....

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Nick T Pappas

Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL

Madison & Huntsville Alabama Real Estate Resource

Nancy, I had out of town clients last week and they lost out on two homes the same way. I'm thinking they won't take quite so much time thinking on the next one.

Apr 29, 2013 09:23 AM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Next time you tell them that they need to jump on a house, this will be rattling in their head and actually get them to do it or move on right there.

Apr 29, 2013 09:48 AM

Jim Patton

Aspire Home Real Estate 209-404-0816 - Modesto, CA

Realtor - Stanislaus ,Merced, San Joaquin Counties

It's hard to argue with instinct Nancy. Hopefully your clients will listen to your instinct too next time.

Apr 29, 2013 09:49 AM

Nancy Conner

Olympia, WA

Olympia/Thurston County WA

Nick, I bet they will be ready to decide in a hurry next time! Sometimes it does just take buyers a while to understand and accept that in many of our markets right now, the decision time is a pretty small window - or they will get beat out by another buyer.

Yep, Chris Ann - they actually said that very thing when I told them the bad news. And I also told them that in today's market, not everything that goes pending makes it to closing, so I will definitely check in with the listing agent frequently to see if things are on track or looking shaky.

Jim - I'm the first to admit that my instinct isn't always perfect, but on this one, I was really pretty darn sure that it wouldn't last.... Oh well, we will find another one! :)

Apr 29, 2013 10:01 AM

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL

708.921.6331 - 40+ yrs experience

Nancy: You were right ... and you did the right thing by telling your clients your feelings. If that isn't proof that they're working with an experienced and very intuitive professional, I don't know what is ... hopefully they listen more closely moving forward and react to your intuition ...

Gene

Apr 29, 2013 10:50 AM

Donna Quinlan

Keller Williams Realty - Newburyport, MA

Keller Williams Realtor & Career Consultant

Unfortunately some folks need to lose a few homes they really like before they realize they need to move really quickly. Too bad they did not heed your professional advice.

Apr 29, 2013 11:02 AM

Kathy Sheehan

Bay Equity, LLC 770-634-4021 - Atlanta, GA

Senior Loan Officer

This has happened to many unfortunately. Next time, they won't hesitate.

Apr 29, 2013 11:09 AM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

Nancy all our buyers know that they need to make a move now.........sleeping on it will most likely not get them the home. You knew that....and at the same time buyers need to experience it for themselves a time or two until they really 'get it'. Good luck on the next one!

Apr 29, 2013 11:57 AM

Paul S. Henderson, REALTOR®, CRS

Fathom Realty Washington LLC - Tacoma, WA

South Puget Sound Washington Agent/Broker!

The only nice thing that happens when you lose out like this once is that your client learns something. A tough lesson but no more sleeping on it...

Apr 29, 2013 01:50 PM

Sharon Tara

Sharon Tara Transformations - Portsmouth, NH

Retired New Hampshire Home Stager

Unfortunately some people look at a statement like "this won't be available long" as an attempt to make the sale...now they have learned a valuable lesson....listen to Nancy, she knows her business!

Apr 29, 2013 10:35 PM

Hi Gene - it's sure interesting how quickly our market has again become one where showings often do get my intuition/experience....whatever....shouting that the house will NOT last long!

Donna, I know sometimes early in the house hunting process, buyers just do need more time in the shopping phase before they feel comfortable pulling the trigger with an offer - but it sure can mean that they lose out on one (or more) homes that would've been good choices.

I think you are right Kathy - they even said that next time they'd be ready - no hesitation!

Thanks Anna - and sometimes losing a house by being too slow to decide is just a necessary part of the process. (especially as our market is heating up more and more) So I just tell buyers what I think may happen and then honor their need to jump or go more slowly, knowing we will get there....If not on one house, then another.

So true Paul - and most buyers do figure that out real quickly! Hopefully it doesn't result in them grieving over the lost chance for too long!

Thanks Sharon!! And I do tell new buyers that I may say that I think a house will go fast - but that I will absolutely hang in there with them if it is just too soon for them to feel comfortable.

Apr 30, 2013 08:24 AM

Darn It! I Was Hoping I'd Be WRONG!

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