Just Tell Them To Make An Offer

Agent:  Hi Mr. Thomas, how did your showing go?

Me:  It went OK.  My buyers are not interested in the home.  For one thing, one of the Sellers was present at the showing and insisted upon giving us the grand tour, which is never good.  My Buyers even told me at one point, "I wish she wasn't here."  The Seller was SUPER-NICE, BUT...you get the picture.  Beyond that, my buyers are not averse to putting some work into the home that they buy, however, given the price of this particular home, they expected all of the knick-knack repairs and touch-ups to be complete, and they are not.  So basically, my Buyers' expectations were one thing, and reality was quite different.  I suggest the Seller finish the repairs and touch-ups as soon as possible so that the home doesn't languish on the market.  The other option is to discount the asking price substantially.

Agent:  Mmm-hmmmm, well, just tell your Buyers to make an offer, OK?

Me:  DOH!

The above exchange is not based on any particular showing I've had, but it is based on many of the same types of exchanges that I've had with agents over the course of my eight years selling real estate in Louisville, KY.  I understand the desire of the agent to generate an offer that she feels confident her Seller will work, however, this is not typically how homes get sold.

As a home seller, you have a few strategies you may employ to sell your home:

1. Complete all repairs or updates that are deemed cost-effective to the home, and price the home in the appropriate segment of its market.  This is the best strategy.  It will maximize the home's price and minimize the home's days on the market.
2. Leave undone some or all the repairs or updates that the average buyer is going to demand, and price the home as a bargain.  This will alleviate the stress of completing repairs, and will attract a buyer who expects the home to need renovation in exchange for a good deal.
3. Sellers should not be present for showings.  For the Home Seller who is convinced that only he or she can adequately describe his or her home, create notes to attach to the various features that you'd like pointed out to potential buyers.  This way, the point gets made without the awkwardness of your presence.
4. Listing Agent, please advise your home sellers that most Buyers don't "just make an offer".  Most Buyers want to make an offer on homes that are already perceived to be a good value considering condition and price. 

Interested in learning more about selling your Louisville, Kentucky home or buying one?  Contact The Thomas Group of Keller Williams Realty Louisville East today.