Is this the Part Where I Tell You the Price of the House ? asked the New Seller

By
Real Estate Agent with Keller Williams 414-525-0563 57026-90 Broker

 We got an email...quite unexpectedly from a "by chance"....meeting with someone we did not know. (Who would think visiting someone in the hospital would mean a listing from an ambulance driver ?!) 

    Off we went ....two children and one on the way meant a larger house was in their future and they were anxious to beat the "spring rush" of homes on the market. They had been judicious about both paying down their mortgage and saving for a down payment for their new home. 

     They had listed their home a year before with a "friend of a friend" who was a part time agent.  We talked about their house...took a tour and made some suggestions  for the "highest and best price" when they put it on the market.
   Our presentation is always two step...and we have a folder of information about us and our brokerage...our education, experience, testimonials and services. 
Name Your Price   "Is this the part where I tell you what I want to list the house for ?" the potential Seller asked.  "No...we don't have that "part" in our presentation," we told him.  We will go back to our office and do our home work and show him the reason we are suggesting $X as a price based on our unique Total Market Overview analysis.

   "I wondered about that," he continued.  The other agent asked me to name a price and after 30 days if it didn't sell...I could name another one...I didn't think that was how this process worked."  YICKS !   No it isn't....We don't have that "part" in the process of selling your home. We will be back with our presentation and explain to you how we got to the price we are suggesting and give you a net sheet so that you can see the proceeds from your sale. "  

    You could see the relief in his expression....he told us he didn't know how to price a house and welcomed our advice .  In addition....when we returned to the office we gave him a list of other people he would welcome for help in his location...discounted services on temporary storage and moving...lenders with outstanding programs....and our magic search link that anyone who is looking for a home in southeastern Wisconsin can use for finding the house they want to call home...just click here.

     If you are looking for a little magic to make your house disappear from the market and call it SOLD and help in finding the next one you want to call home...Call the Hansons ...we are honored to be of service.

    

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Re-Blogged 1 time:

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Home Selling
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selling a home
pricing a home to sell
choosing a sale price for a home

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Rainmaker
2,071,415
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Sally K. & David L. Hanson ""No...we don't have that "part" in our presentation," we told him.  We will go back to our office and do our home work and show him the reason we are suggesting $X as a price based on our unique Total Market Overview analysis."

Right on target - and - re-blog!

Feb 19, 2017 02:32 AM #33
Ambassador
601,708
Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

My biggest surprise was that the seller actually was relieved that he didn't have to guess the price.

Feb 19, 2017 04:39 AM #34
Rainmaker
2,329,243
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning again Sally and David. This is excellent! Some folks don't get it until they are burned once.

Feb 19, 2017 06:09 AM #35
Rainmaker
518,240
MaryKay Shumway, Door County
The Kellstrom Ray Agency, Inc. (Est. 1948) - Sister Bay, WI
Door County Wisconsin's Real Estate Expert

I have always been appalled at this practice (shame on these agents), but we get the flip side, also--the potential client that thinks he or she can "name their price".  Great post, and fantastic way to put the truth of the situation out there for the public!

Feb 19, 2017 07:10 AM #36
Rainer
320,902
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

These agents needs to get tough and get some training!!!

The other agent asked me to name a price and after 30 days if it didn't sell...I could name another one...I didn't think that was how this process worked."  

Feb 19, 2017 07:56 AM #37
Rainmaker
319,963
Matt Brady
Skyline Home Loans - Del Mar, CA
Lending With Competence And Character

No, this is the part when I explain why you hired a professional.

 

Feb 19, 2017 09:39 AM #38
Rainmaker
431,565
Nick & Trudy Vandekar
Long & Foster Real Estate Inc - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Love this post, had seen the title the other day and then my phone went and I never got back to read it. Love, Love, Love it. Excellent.

Feb 19, 2017 10:30 AM #39
Rainmaker
1,019,802
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

Have to admit your post has me chuckling a bit, Sally K. & David L. Hanson ... first, I have NO problem thinking you could get a listing almost anywhere!  Even a hospital ...

Secondly, loving the question asked by this Seller. Alarms had to go off when the other agent indicated this was how they found a sales price ... wow ...

Gene

Feb 19, 2017 12:33 PM #40
Rainmaker
478,694
Kathryn Acciari
RE/MAX Professional Associates, with offices in Sturbridge, Charlton, Auburn, Spencer, and Shrewsbury - Sturbridge, MA
RSPS, SRS, REALTOR (R) - Sturbridge MA Real Estate

Fantastic story, Sally and David. We hear so many tales of people not taking our advice. This is a refreshing and optimistic example of how it's done right.

Feb 19, 2017 04:03 PM #41
Rainmaker
1,079,221
Jane Peters
Home Jane Realty - Los Angeles, CA
Connecting you to the L.A. real estate market

Well that was serendipity indeed. This seller was lucky to have found you. 

Feb 19, 2017 04:06 PM #42
Rainmaker
259,125
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

A great example of why people should talk to multiple agents and compare!  Great job.

Feb 19, 2017 05:30 PM #43
Rainmaker
120,079
Janice Hope Zaltman LEED AP
Keller Williams Partners - Hollywood, FL

Glad it went well. Many times we encounter sellers who think they know best what their home is worth and go with the realtor who agrees with their unrealistic price.

Feb 20, 2017 11:50 AM #44
Ambassador
737,244
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Right off the top, I can tell you that the title of your post made me laugh.  That is so funny.

Feb 20, 2017 12:37 PM #45
Rainmaker
1,545,750
Carla Muss-Jacobs, Principal Broker (503) 810-7192
BuyersAgentPortland.com | Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time - Portland, OR
Buyer Focused ~ Buyer Results

A few comments, first great post!  Next, when the listing agent has the "strategy" of placing a property on the market for $X with the 30-day plan of reduction, they are not pricing it for the market to get it sold in the quickest amount of time, for the best price.  They are working off their own interests of obtaining the listing, then playing around with price.  Not good -- on many levels!  Finally, any CMA which is done on a "site / sight unseen" is also not good.  Any lisitng agent worth their salt tours the property first, meets with the potential clients, and then does what you do . . . goes back to the office and prepares a CMA based on what they toured -- the property: condition, location, etc.  Making a second visit to explain the findings --  EXCELLENT post!

Feb 20, 2017 01:15 PM #46
Rainmaker
458,075
Carla Freund
Keller Williams Preferred Realty - Apex, NC
Raleigh - Cary Triangle Real Estate 919-578-3111

Thank you Sally & David, I always have a price range in mind when I meet with sellers. Sometimes it is on the spot and sometimes I feel like I need to review more once I've seen their house. It's always nice when the seller & I are on the same page but, I don't hesitate to speak up if we're not.

Feb 20, 2017 05:28 PM #47
Rainmaker
2,922,662
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Sally and David

A listing that's overprice is not helping the sellers sell their home.

Good luck and success.

Lou Ludwig

Feb 20, 2017 07:49 PM #48
Rainer
328,278
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton

Dear Sally & David,

You do not just suck on your finger & come up with a number?? Just boring old hard work & analysis? Where is the drama in that?

Feb 20, 2017 08:23 PM #49
Rainmaker
874,308
Kat Palmiotti
Better Homes & Gardens Rand Realty, Monroe NY Real Estate, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I bet that seller was thrilled that you arrived!

Feb 21, 2017 03:18 AM #50
Rainmaker
208,383
John Wiley
Jones & Co. Realty - Cape Coral, FL
Lee County, FL Real Estate GRI, SRES,SFR,PSA

Thanks for sharing from experience.

I have not taken listings when the Seller wants an unrealistic listing price.

But, another agent comes along and takes the listing at the much too high level. Then they start the downward price changes. Still not down to where I said it would sell at, the listing expires.

I like your style.

Feb 21, 2017 06:00 AM #51
Rainmaker
353,777
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

I like the two part presentation. HOwever, when meeting with sellers, they seem to always say at some point:  so what would you listt his house for??  They want to know a range at the meeting time.

Feb 22, 2017 09:01 AM #52
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce - Short Sale
For All Things Wisconsin Real Estate...Call the Hansons
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