Cherished Family Memories Reluctantly For Sale To Highest Bidder

“Cherished Family Memories Reluctantly For Sale To Highest Bidder…
and we do mean high so don’t offend us with a lowball offer.”

I see this ad all the time; in community newspapers and magazines, print, online and in my email. I see it every time I pull up the day’s New Listings in MLS.

You’re kidding…no one would ever run such an ad, would they? Guess again; this is exactly what a seller is saying when s/he decides to ask their real estate agent to “just try it” and put an overpriced home on the market to see if anyone is willing to pay. (Never mind whether or not a lender is willing to lend money to a buyer to overpay for your home but that’s another discussion…)

We all think we are capable of being perfectly objective when it comes to selling our homes. “I know it’s just a house,’ we tell ourselves, “an investment, bricks and mortar, ‘a house’ not a home.” But the problem is that, for you, it is a home.

When you start to ‘de-clutter’ as your agent suggested, you find memories; in the closets, in the attic and under the beds. Memories in your families cherished collections, your children’s school art and your kitchen junk drawer. The pantry holds the ingredients for your loved ones favorite recipes and the walls hold family portraits and local artwork purchased on family vacations and outings.

You start to think about all the good times you’ve had in the kitchen during holidays, family evenings spent in the living room, putting the kids to bed in the bedrooms decorated to reflect their favorite things, the backyard parties with neighbors and friends and the satisfaction of completing a do it yourself project in the garage. You know how much a new family is going to enjoy doing those same things in your beloved home. Someone will appreciate how valuable it is, right? Then there’s the new flooring, the updated bathrooms, the new HVAC system and isn’t your lawn beautiful and well cared for? Surely the next owners will want to keep the custom made draperies that match the Pottery Barn paint in the Dining Room. You’ll leave them; for a price. The washer and dryer are only two years old; a great deal and you’ll throw those in; with the right offer.

Folks, you have long since passed the point of even being capable of objectivity. Loss of objectivity is the first step down the short road to unreasonable pricing. But can’t we just try it? Surely you, my faithful and capable real estate agent, can make them see how valuable all this stuff is? That is your job isn’t it?

My job, dear seller, is to help you understand the realities of the market and to offer up my years of experience to help you prepare your home to appeal to the largest segment of qualified buyers out there and this includes proper pricing. Then I will market it in such a way as to get those buyers through the door so they can see for themselves what a great home you are selling; maybe even get them to imagine all the great memories they can create there so that we can begin to strategically negotiate the selling price. Don’t think for one minute that your offering price is not part of the strategy or the appeal.

Your best buyer may not even get a chance to see your home if their agent tells them it is overpriced. Nobody has the time to be the guinea pig who teachs a seller that their pricing strategy is in need of some serious review. “Make us an offer”, you say, “we’ll be reasonable.” But the buyer has moved on. They are busy preparing an offer on your neighbors’ home. You see your neighbors finally decided that they really want to get on with it, no more trying; they’ve opted for doing. They just dropped their asking price by $20,000 and the buyers can’t wait to get started negotiating for their new home. They’ll be moved in before Christmas and already creating their own memories just about the time you call your agent to say “Let’s price it where you originally suggested…it’s time for us to move on.”