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How do you get your Sellers on the same page as your buyers in a difficult market?

By Kevin O'Shea

Real Estate Agent with Coldwell Banker

February 27, 2009 07:33 AM

As a veteran Realtor, it has always been a matter of education to explain to buyers what they can reasonably expect to pay and explain to sellers the value of their home.

But lately I have had a few sellers who don't seem to listen, and I had one who wanted to take the listing away from me when I was explaining that the market is a little weaker and not to lose this buyer and give a strong counter offer.

The market in our area got weaker later than in other areas, it is difficult to sell, but when things are priced correctly, we do get offers. The sellers don't always want to listen to the reality.

People don't realize that Realtors don't make the market or the price, the buyers do. It is up to the Realtor to get the Market data and interpret it, taking into consideration the sold properties and supply and demand.

What are your favorite strategies to educate and get people on the same page?

All the best!

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Claude Cross

Homes By Cross, Inc. - Charlotte, NC

Charlotte NC Homes For Sale

I tell them they have two choices. I can either LIST your house and we can hope,wait, and reduce or I can market the house at a price Where it will SELL.

Feb 27, 2009 08:09 AM

Ruthmarie Hicks

Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Kevin,

It doesn't help when some agents run around saying "I do extreme advertising...so I can get you X - whereas all these other bozos who don't understand the REAL market can only get you Y." We don't make the market, but many market themselves as if we do. Therein lies the confusion on the part of the public.

Feb 27, 2009 12:48 PM

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Kevin. Market harder.

The more leads you have the less you care.

They will change their offers/bids when they are ready. Don't try to influence.

Glad to see you back.

Ken

Feb 28, 2009 11:21 AM

Kevin O'Shea

Coldwell Banker - White Plains, NY

White Plains, NY Real Estate

Hi Claude, I will definitely turn down listings, but this is a case where we have a viable offer and the sellers want to wait for better and I don't think better is coming.

Hi Ruthmarie, It can be very frustrating getting people to understand how difficult the market is.

Hi Ken, We are negotiating now and I do care about each of my owners that trust me to list and advise.

Mar 02, 2009 06:47 AM

COMPASS PALM SPRINGS | Stewart Penn

COMPASS - Palm Springs, CA

COMPASS Palm Springs - Broker Associate

Kevin - I've told Sellers that adopt the same attitude as the example you've given that if they don't counter and negotiate with a qualified buyer, they are effectively buying back their own property at the price they're holding out for.

That seems to give them a reality check to stop, listen and think!

Mar 14, 2009 07:01 AM

Thanks Stewart that is a good idea.

May 27, 2009 08:06 AM

How do you get your Sellers on the same page as your buyers in a difficult market?

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