SOAPBOX MOMENTS !

Last week I met with a local resident who wanted to sell his Rockland home.  As usual, I did a very thorough "Market Trend" Market Analysis.  These compeititive market analyses take 4-6 hours to prepare and leave absolutely no doubt in the mind of the analyst (that would be me) exactly what the chances are of the seller's ability to sell a commodity that is in great supply right now.  I can predict quite accurately how much time, and within a few thousand dollars the expected price point at which the property will sell.  There is an old saying . . .

Facts and Figures don't lie, but "people do".  This is why I always come prepared when I meet with a potential client and SHOW THEM what exactly is happening in the Rockland Real Estate market.  Unfortunately, this poor seller did not listen to my advice . . . he called in another realtor, who no doubt puffed him up with whatever drivel sounded good to this naive seller.  So .... the seller  "drank the kool-aide" and bought the big lie that "oh your property will sell very high because _________" blah blah blah.

Why would a broker take an overpriced listing anyway?

Mr. and Mrs. homeowner let me tell you a big secret that most real estate brokers
won't tell you.  The reason that they will take an overpriced listing, knowing full well
that they dont' have a snowballs chance in hell of selling it anywhere near the price they listed it for follows. 

You see, when the calls come in on that overpriced gorilla,   the caller will exclaim "what are you crazy"... I don't even want to see that house.  And all of a sudden that "realtor" will inform the caller that they do have other properties that are available in the price range they want to see.  

BINGO!  You, Mr. Overpriced Listing Seller person have just been used.  But you didn't even know it.  This scenario will play out over and over and over.  Within a few weeks you WILL begin to realize that you were lied to. But now its too late because you signed a 6 month (or more) listing.  They waxed eloquent about their marketing expertise and their database, and their thousands of agents, but here your house sits ... lonely and waiting for some poor slob to come see it, let alone make an offer on it.

So . . . there you have it Mr. Overpriced Listing Seller .... this is why a realtor (who in my opinion is not even a realtor if they take overpriced listings) would take an overpriced listing.  I'm sick to death of the unprofessionalism I see day by day around me.

I can tell you Mr. Seller what you want to hear (wow your house is worth gold, when in my heart I know its not) or I can tell you the truth. 

The TRUTH is that there is a glut of inventory in the Rockland Real Estate market.  The truth is that there are "maybe" one to two QUALIFIED buyers every month at each price point for each neighborhood.  Why in the world would a qualified buyer prance through an overpriced listing when there are countless well priced properties begging for offers? 

In case you're thinking/wondering if the realtor "thinks" so highly of your property that you'll certainly have the chance to get more...think again . . . Even "if" a buyer did come through and offered you your inflated price, 97% of these properties are financed through a bank.  Guess what Mr. Overpriced Listing Seller .... you now have to get through the arduous task of the appraisal.  The appraisers will use the very same criteria and statistics for their analysis as I do.  At some point, you will hear the truth, but now it may be too late, for your once enthusiastic buyer will walk away.  This is the stuff that real estate horror stories are made of, and our market is rife with them.

So ... I think/hope you get my point.  PLEASE if you are serious about selling your investment, PLEASE do business with someone who will tell you the truth and support that truth with facts and figures. 

Don't think I'm not tempted Mr. Seller to do what my competitors do . . . I'm human too.  I have bills to pay too.  But I have something more important to maintain and that is INTEGRITY.  I can put my head on the pillow every single night knowing that I've dealt honestly and in truth.  G-d will take care of the rest.  I know G-d's not very popular these days, but He's A #1 in my book, He's helped me grow my company thus far, and I trust He will continue to bless us if that is in His plan for my boutique company.  But make no mistake, bless us He has.  Even though the giants around us are trying to gobble us up, we grow bit by bit every year. 

And one final thought so you don't think I'm being too frank . . . none of this is really your fault, Mr. Overpriced Listing Property Seller . . . why ???

YOU'VE BEEN LIED TO.  You didn't know any different, because after all . . the realtor said it was so, and you believed them.

Oh...ps.  I get asked quite often "how many listings do you have" . . . My answer is this.  It's not how many listings do I have....how many do I not have?  How many of my listings have sold.  My answer is just about every single one.  There are a couple of exceptions to that ... those small exceptions, in each case are because the seller did not listen to pricing advice supported by facts and figures readily available to all.

Oh...ps.  I get asked quite often "how many listings do you have" . . . My answer is this.  It's not how many listings do I have....how many do I not have?  How many of my listings have sold.  My answer is just about every single one.  There are a couple of exceptions to that ... those small exceptions, in each case are because the seller did not listen to pricing advice supported by facts and figures readily available to all.  In the case mentioned above, the seller rewarded my honesty with choosing a realtor who lied to him.  I, (like many sellers and agents gone before me) have had to learn to hard way . . . overpriced listings are a total waste of time, energy and money. 

and p.s.s. - I must hasten to add that not all realtors conduct their business this way.  The professional agents will, of course, layout the truth for their clients.  Common sense tells us that business will not thrive in an environment of deception, and referrals will be nonexistent.

Happy Memorial Day everyone . . .

Angela Fish Chan
Broker/Owner, Rockland County Real Estate

Angela Chan
Broker/Owner
Rockland County Real Estate
(845) 624-3900