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Clients With Unreal Expectations

What do you say to the person wanting you to list their property who says " I must sell this within thirty days or less". Good Luck! With all the inventory on the market, thirty days is a tough goal. Pricing, of course, is the answer. Properties that are correctly priced tend to move. However, many of these people bought at the height of the market with little or no down payment and owe more than the current value. Now, they are faced with some tough decisions. Should they sell at a loss or try to hang on until the market improves? With all the negative news, that could be some time. As real estate professionals, all we can do is try to guide them and refuse the listing if the client has unreal expectations and refuses to listen to reason.

Posted by Jane and Jesse Neely on 04/28/2008 01:22 PM

Comments (6)

Post is included in group: Coastal Carolinas

6 Comments on Clients With Unreal Expectations

Jesse and Jane...

I would tell the seller that if you had a crystal ball, this might be possible, but you will try your best. If they are not happy with this, and want a guarantee.. have them go to another realtor... you will be wasting your time.

04/28/2008 01:27 PM

by Valerie Osterhoudt (Johnson Real Estate, Inc.)

Tell them up front. I would rather you be mad at me now rather than mad at me later. Anyone who tells you any different is setting you up for disappointment.

04/28/2008 01:37 PM

by Connect Financial Services

Valerie,

You just used my line with my clients. I always say if I had a crystal ball I would be rich.

Jesse, Just be realistic with the sellers. If I think they can't sell to recoop enough money then I tell them so. It cost too much to market the houses properly to have overpriced listings. The seller doesn't like false information. They want the truth.

04/28/2008 01:40 PM

by Becky Respess, ABR, CRB, CRS (Broker/Associate North Texas GMAC)

There is another option you might offer. Pacific Auction Exchange will work with the listing agent and auction the property, so if time is the only issue, that is an option.

http://www.paxinc.com/

I'm not affiliated with them in any way, just saw them succeed a few times here in Santa Clara county.

04/28/2008 01:50 PM

by Alan Gregg (RE/MAX Valley Properties)

all great commets. You may also ask them how long it took them to buy the home they are now selling. It may but a dose of reality on them

good post

04/28/2008 01:50 PM

by Tony Grego with Paramount Mortgage Funding

I agree with Ron. Be upfront. They need to hear the truth. - not what they want to hear.

04/28/2008 01:52 PM

by Debi Ernst, Real Estate Broker/Agent (Ryco Realty Group)