I received an interesting email from Paulia Kennedy last week. She explained me, "We're really getting hammered with new listing calls lately -- seems like we've been averaging about 3 new calls per week. It's getting to be so many, that we really have to be choosey about the properties we list. We have been deliberately honest, upfront and realistic with the sellers. Then after the honesty talk, some of them are deciding to hold off on selling."
Having worked with Paulia for sometime now, I am well-aware of the integrity that defines The Kennedy Real Estate Team, so I asked her to characterize, 'honesty talks'.
Paulia explained, "It's being totally candid on what we think their property will sell for (with no sugar-coating) and how long we think it may take to sell. We are upfront about the true negatives of the property that we will have to face. We come up with a plan on how to offset those negatives. We fully explain to the seller information they may not want to hear about their property based upon our market absorption rates, our knowledge and experience. We often suggest they hire an appraiser - especially when they are being unrealistic - or it if it's an unusual piece of property with very few comparables available."
When the market was really lucrative, Paulia and The Kennedy Team would give a similar 'honesty talk' but they were not as adamant with their advice. Paulia explained that they would often give in to the seller requests and allow them to start off with a higher price - as it was not as critical then. She added, "The sellers did not seem to be in such desperate financial conditions and the buyers did not seem to be as demanding before." In this volatile market, The Kennedy Team gives the seller the most realistic news, which more than likely is not what the seller wants to believe is the truth. This frankness means that Paulia and The Kennedy Team can concentrate on selling only those properties, priced appropriately for their market working only with realistic sellers who fully understood the truth of today's market.
It may also mean fewer listings but the reality is that the Tough-Love approach has meant stable sales.
Virtual Assistant to Paulia Kennedy