It's not easy making a decision to sell a home today. Images of the unstoppable price increases of 05 and 06 still float about in every Seller's mind, reminding them of plans once made for retirement, or in many cases, reminding them of the Home Equity Line of Credit they took out and spent, an amount that surely cannot be recouped today.
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I deal with very smart and educated people. My clientele is diverse, from first time homeowners to families who now run or have built highly successful businesses. Quite a few of my clients own second homes that are more expensive than the primary home most of America can afford.
In short, my clients understand the dynamics of a deal.
My favorite conversation with these particular clients goes something like this:
"Eileen, we don't HAVE to sell our (second) home, but we would like to. We own it free and clear and understand, we are NOT desperate. So Eileen, we're not going to fire sale it. We're not going to give it away - do you understand?
(Long pause while I silently shake my head, understanding that this owner is LISTING, not SELLING his/her home, and unless I outright reject the listing, it will sit prettily and untouched for quite some time).
So Eileen, the Seller resumes, do you know of any screaming deals out there right now, maybe someone in trouble or a pre-foreclosure I can scoop up? Can you find that out for me?"
As I will keep repeating ad-naseum, the bottom line of today's sales is the bottom line. The price. Buyers want the deal and understand this is the time to get it. Sellers who want to sell need to create what LOOKS like a deal, even if it is a home priced in relation to today's comps.
The same Seller who, grunting and groaning, sells to the buyer they disdainfully call THE BOTTOMFEEDER, happily spins about and bottomfeeds to his or her content if they are buying a new one.
It's funny. It's frustrating. It's reality.
Eileen
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