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The Neighborhood of Make Believe

By
Real Estate Agent with Berkshire Hathaway Home Services Beach Properties of Florida

As a Realtor, I must first disclose that YES I too have taken an overpriced listing. However these days things are different. We need to pull our customers out of the Neighborhood of Make Believe! Many people that bought homes during the "Boom", with a "Creative Home Loan" are going to have to realize that their money was made up front. There is no easy way to say it except just SAY IT! When taking a listing I always take a Sellers Net Sheet with me with the "TYPICAL" closing costs for the seller on it. This way they will see a pretty close estimate as to what they will be putting in their pocket IF the home sells for the listed price. If that price goes into negative numbers, I am not taking that listing, unless they are realistic and decide on a short sale or have cash to bring to the table. As Realtors we need to understand that there are years worth of inventory out there, Why would you spend money on a listing that is not going to sell in this market. You need to educate your seller and make sure they are not living in the Land of Make Believe.

Some people are in situations where they HAVE to Move, as professionals we need to educate them what their options are. If their house is not worth what it once was then they need to know that. It is much easier to let them know up front then to do it while you are trying to sell the house. Make sure your seller is not living in the LAND OF MAKE BELIEVE.