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Sellers need The Truth in this competitive market.

By
Real Estate Broker/Owner with Mary Sitton Real Estate Team - 215198

It takes courage to sit in front of a seller and tell them the truth about why their home has not sold.  Whether it’s the physical condition, location or price – it’s difficult and sometimes down right uncomfortable to keep an objective and unemotional opinion; especially since it’s in my nature to be a people pleaser.

For a split second I think of how to sugar-coat the "why"s.  Then I come back to the “get to the point” and just tell the truth.   The seller placed their trust in me.  I owe them the truth.

Seller’s who want to sell will de-clutter, paint and fix just about anything in order to get the home sold.  How else are we going to get buyers attention other than pricing the home correctly?

Mr. Seller did you know buyers have access to your information?  Your tax assessed values, recent home sales for your community and your utility expenses just to name a few.  Think about what I’ve just said: Mr. Seller, when you believe you should price your home $10K more than your competition, because you believe your home is far superior to any home on the market - the truth will reveal that you're not a motivated or realistic seller. 

I say to myself and clients 'do you want it to sit or sell?'  I want it to sell, so here’s the truth… 

 

Comments(6)

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Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Mary, It's great when you have the seller's ear so to speak.  One of the common excuses reasons I hear for over pricing is the seller "needs" to net a certain cash amount to move on.  But as you stated you have to price right to an informed buying market.

Steve

Aug 31, 2010 05:37 PM
Paul Walton
Cherry Creek Mortgage Co - Benicia, CA
CMPS

Mary,

Sugar coating leads to issues, which should have been dealt with from the start.

Great post, leave the sugar on cookies, put the facts on the kitchen table.

Aug 31, 2010 05:40 PM
Mary Sitton Real Estate Team
Mary Sitton Real Estate Team - - Hendersonville, NC
Realtor® - Western North Carolina

Steve - I've heard it too.  Then when the seller re-lists their home they are more motiviated to listen.  THey learned the hard way.

Paul - You said it best.

Aug 31, 2010 05:43 PM
Amanda Nicodemus
Spring Texas Keller Williams Professionals - Cypresswood - Spring, TX
Spring Texas Real Estate www.amandahomes.com

Hi Mary,

I'll be having this uncomfortable conversation with my seller tomorrow.  There's been no offers on their house, and yes it's priced higher than the comps.

Aug 31, 2010 05:51 PM
Bryan Watkins
LRA Real Estate Group - Mesa, AZ

We have all had this discussion, I'm sure. I have had it also with commercial clients. They don't like to hear it either.

Aug 31, 2010 05:53 PM
Mary Sitton Real Estate Team
Mary Sitton Real Estate Team - - Hendersonville, NC
Realtor® - Western North Carolina

Amanda - Good luck tomorrow.  Stay true to the facts.

Bryan - it amazes  me how the client will blame their agent for why it hasn't sold even thought the agent has told the truth.

Aug 31, 2010 06:03 PM