2009 is a reality check time for many of us. The easy sales, the big incomes, the fast pace of the market - those have disappeared down the trail and are no longer visible in our rearview mirror.

Still, many consumers have not caught up with the times. They still expect to recoup a sales price on their home reflective of a more robust time. However, they also expect that the seller of the property they are interested in - be it a private individual or a builder - to heap on the concessions.

I think most of us are in step with the times and are looking forward to a more sane, predictable 2009 that can lead to a re-establishment of our businesses. It's up to us, along the way, to help consumers get the picture - by mail, in-person, on the phone, and in our posts.

This is a check we can cash this year if we are realistic about our expectations and convey that to our buyers and sellers.

By mid-year let's hope that people no longer postulate about how much they could have sold their house for or what it was "really" worth and accept the market correction that has occurred. May all of us - buyers, sellers, and agents - jump right into the new reality.

───

For more information on my coaching and educational programs and services, sales tips, insights, or strategies, visit my website stevehoffacker.com or my other blog homesalesinsights.com. © Steve Hoffacker, 2009. All Rights Reserved.

 
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18 Comments on Your (reality) check is in the mail

JAN
24
597,325 Points 80 Featured Posts Outside Blog

Great post.  The reality is that the consumers is not living in today.  There will be some opportunities ahead if we acknowledge the events and move forward.

8:14am • #1

You are so reight about the need for a new reality check. Just because a property has a huge tax value put on it 2 years ago does not mean you can sell it for that. It is tough to get people to see that!!

8:17am • #2
326,683 Points 5 Featured Posts Outside Blog

Looking ahead. . I see more opportunities than ever. .the key here is to adapt to your market.

 

8:26am • #3

What it really boils down to is educating the seller. But, as we all know, they shoot the messanger many times first.

Be right back.....I have to go get a few holes taken care of..............

8:49am • #4

A lot of sellers owe mortgages based on yesterday's market, not what their home is worth today.

9:08am • #5
102,552 Points

I have seen that too, "Bob" wants 2006 price for his home but expects the pay 2009 prices on his new home.  Educating the seller is key and sometimes not the most fun thing to do but without that reality check you'll get nowhere.  Thanks for the post!

9:43am • #6

It seems to me that most sellers have figured out reality.  It may still be the buyers who think that they should low ball every home they see that may still be out of the loop.

10:14am • #7
540,735 Points 11 Featured Posts Outside Blog

Jim,

The more Realtors continue to accept overpriced listings, the longer this unreality will continue. :)

Steve

11:14am • #8
540,735 Points 11 Featured Posts Outside Blog

Kathy,

This is a valid point, and many jurisdictions are looking favorably on lowering assessments in light of market conditions - but you have to ask for it. :)

Steve

11:15am • #9
540,735 Points 11 Featured Posts Outside Blog

Fernando,

Oh there are so many opportunities. That's why I remain optimistic. :)

Steve

11:16am • #10
540,735 Points 11 Featured Posts Outside Blog

Steve,

I like the way you express that thought. Sure, we can argue that if we don't take the listing at the unrealistic price that someone else will - so let them. :)

Steve

11:17am • #11
540,735 Points 11 Featured Posts Outside Blog

Team Knowles,

This is a factor for some but won't help get the home sold. They really have 3 options: don't sell, refinance, or take what they can get. :)

Steve

11:19am • #12
540,735 Points 11 Featured Posts Outside Blog

Jared,

Consumers certainly do want the sell high, buy low principle to aplly to them. :)

Steve

11:20am • #13
540,735 Points 11 Featured Posts Outside Blog

Pat,

I think it depends on the market. Also we need to tell buyers what the score is before they prepare their offers. :)

Steve

11:22am • #14
254,701 Points Outside Blog

Steve - The last seller I talked to seemed to be realistic about the market value of his home.  I hope that is a sign of things to come.   :)

12:22pm • #15
JAN
25
540,735 Points 11 Featured Posts Outside Blog

Debi,

That is a good sign. Let's hope that does point to a trend. :)

Steve

12:07am • #16
JAN
27
JAN
28
540,735 Points 11 Featured Posts Outside Blog

Paul,

Welcome to the new reality. Go out and make your presence felt. :)

Steve

8:10am • #18

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Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies

West Palm Beach, FL

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Hoffacker Associates LLC

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Tips, comments, observations, and strategies for real estate professionals on the sales and marketing of new homes and existing homes, as well as time management, personal marketing, lead generation, and customer management issues.

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