First impressions rarely changed - except with a big price reduction!

By
Real Estate Broker/Owner with Waters Realty of Brevard, LLC BK3064647

I just read an article that stated the market was turning in 2018 (if you can believe such forecasts) to one that is balanced if not shifting to favor buyers.

Another article I read suggested sellers move their home (get contract signed in 2017) this year because the new tax bill in process addresses changes regarding capital gains.  (As proposed, owners must live in their house at least five years out of the last eight; currently, the requirement is two years out of the last five.)

Regardless, here are some cold hard facts every seller needs to understand before putting their house on the market.

  • Your house is really not that special!  The sad truth is no house is as special to a stranger as it is to the owner.  No house is worth as much to a stranger as it is to the seller. 
  • Lower available inventory does not mean buyers will overlook material deficiencies. 
  • Buyers will necessarily accommodate your restrictive showing conditions.  If you really want to sell then accommodate reasonable showing requests.  A twenty four hour advance notice is not accommodation - unless there is a real reason such as medical or child care issues.  Even with these there is a chance the buyers will skip your house.
  • Price is still king.  Even in a tight market the philosophy of "if you will price it they will come" is faulty.
  • While a seller may look for reasons to get more buyers will always look harder for reasons to pay lessMake sure your house is ready for the market on day one. If something is in need of repair do it before the sign goes up! 
  • Don't expect to price high and negotiate down a lot.  An unreasonably optimistic price is often a sign the seller will be unreasonable in negotiations.  While a seller may set a list price it is the market that sets the real price.  Buyers have a lot of resources available - especially local knowledgeable real estate agents. They will know when the price is overly optimistic.
  • The first ten seconds will set the tone of the entire viewing.  Like your mother said...first impressions matter.   First impressions are rarely changed - except with a big price reduction!
  • Selling your home can be an exciting time but it requires work - on your part and on the part of your Realtor. 

Preparing to sell a house begins on day one when its purchased.  A house must be maintained through out its entire life to maintain its value.   

Thinking about selling your Viera, Florida home?  Call or text me at 321-693-3850 to discuss market values, the process of selling (and costs).

agent@moving2brevard.com

 

Posted by

Gary L. Waters, is a Florida licensed real estate broker at  Waters Realty of Brevard, LLC, Melbourne, Florida serving Florida's Space Coast including the cities and surrounding communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and Satellite Beach.

 Call or text me directly at 321-693-3850.

 

 

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Sharon Tara 12/12/2017 07:54 AM
  2. Debbie Reynolds 12/14/2017 05:00 AM
  3. Gabe Sanders 12/18/2017 11:50 PM
Topic:
Home Selling
Location:
Florida Brevard County

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Rainmaker
1,146,993
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

These are all totally accurate statements! The first ten seconds are critical!

Dec 09, 2017 06:19 AM #7
Ambassador
3,237,148
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Dec 09, 2017 05:33 PM #8
Rainmaker
4,156,827
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Very wise words, Gary.  Though many sellers just can't seem to understand them.

Dec 10, 2017 04:50 AM #9
Rainmaker
2,939,298
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Gary. I like your style. No house is as valuable to a buyer as it is to the owner. Right on.

Dec 10, 2017 06:13 AM #10
Rainmaker
2,667,142
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I can see why Kathy chose to highlight your post this week!  Nicely done!

Dec 10, 2017 06:28 AM #11
Ambassador
3,528,307
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Gary

This is excellent. There are certain truths about buying and selling homes that withstand different types of markets no matter what. There are lots of myths out there and you tackled them well!

Jeff

Dec 10, 2017 07:51 AM #12
Ambassador
1,658,018
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC  You have made some interesting points here

Dec 10, 2017 03:43 PM #13
Rainmaker
2,832,896
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Gary -- my house for sale is not special?  Surely you jest.  LOL....well, sometimes we need to deliver the truth -- if when it may not be "right'.

Dec 10, 2017 04:31 PM #14
Rainmaker
2,832,896
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Yes, reality still matters.  A lot.  

Dec 10, 2017 04:32 PM #15
Ambassador
1,287,153
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

Gary, while I agree with some of these, I respectfully disagree with others that you've stated. 

For example, when there is a plethora of buyers and very little inventory in a hot market, it creates a feeding frenzy and some buyers are willing to look past material deficiencies, they are also throwing very large amounts of money WAY over asking price because there are nine other people in line to buy this home. I am seeing this so often in the Portland OR market. It's CRAZY. There will be a bubble bursting at some point, from what I figure. This is not my niche market, but I've lived here since '79 and bought and sold many of my own homes and my bestfriend is a realtor in Portland (20+years, top agent) and she can't believe what people are doing right now. 

Dec 11, 2017 06:15 AM #16
Rainmaker
962,695
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Such a great post! Can I look my sellers in the eye and tell them their house is not special? I think yes - because you've clarified something that is important -- a stranger will not think it's as special as the seller thinks it is.

Dec 11, 2017 09:17 AM #17
Rainmaker
1,360,556
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Gary, I don't pay any attention to the predictions, what goes up must come down but would that be the case in 2018? I don't know but for now, I'm happy to list, work with buyers and sell homes. The last three transactions I had were under $250,000, none had home inspections and two paid over list price. 

Dec 11, 2017 04:25 PM #18
Rainmaker
1,951,668
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Excellent "hard cold facts" Gary!

Deserves to be shared....REBLOG!

Dec 12, 2017 07:55 AM #19
Rainmaker
326,781
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

Gary, this is a great post that is worthy of a second look.

These point should be read by all consumers.

Thanks for speaking the truth.

Dec 12, 2017 11:11 AM #20
Ambassador
3,592,689
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Sellers often have the wrong impression and unrealistic expectations. This is a good post, Gary.

Dec 12, 2017 06:54 PM #21
Rainmaker
1,596,966
Lottie Kendall
Today | Sotheby's International Realty - San Carlos, CA
Serving San Mateo County and San Francisco

Hi Gary - what you're describing here I'm currently seeing in our rental market, but not (yet?) the resale market. 

Dec 14, 2017 08:23 AM #22
Rainmaker
1,445,766
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

Debbie Reynolds - Not sure I ever met very many sellers with realistic expectations!

Dec 14, 2017 09:16 AM #23
Rainmaker
1,445,766
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

Beth Atalay - It is all local so all these predictions mean very little.  Have a great day!

Dec 14, 2017 09:17 AM #24
Rainmaker
146,132
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

I agree. First impressions are vital. Thanks for sharing.

Dec 16, 2017 11:12 PM #25
Rainmaker
2,711,129
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Maintained and kept updated are key to being ready to sell !

Dec 19, 2017 03:15 AM #26
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Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC

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