Yesterday I got a call from a woman who asked, “I got your name from someone, somewhere I heard about your office, I am looking for a discount broker because I want to sell my house.” I first repeated what she said so I could hear a “yes” from her right away. So you are looking to sell your property and want to work with an agent who will discount their services? She said, “yes.” I quickly explained to her that I was no longer living in her area, and no longer working for that agency, but could I suggest someone and share some thoughts as you figure out your process to sell your home and move to the next. She gave me another yes.
“Just a couple of things, but let me start by saying it is a tough market out there. The economy is skimming along the bottom; the houses are loosing some value depending on the foreclosures and short sales in your immediate area; the houses are staying on the market longer; it is true the interest rates are at their lowest, but the banks are putting so many more restrictions and caveats on the loans that it is difficult to get loans through.
“When you work with a discount agent you get less service, and now is not the time to skimp on marketing services to get your house sold,” I finished. I had done enough talking on the discount point. I asked more questions to get her talking. She lives in a very affluent area of the city. It is a gated community with strict guidelines and conformity–in a good way. She is a high end Antique dealer and her home is her showroom. The economy has taken a bite out of her business, her income, and her inventory and now she can move out from under the heavier load and reshape her business and her living situation into a more suitable structure.
All this is good, and I told her so. I gave her the Days on Market for properties like her’s in the area; I gave her the price per square foot of the homes that have sold in the last 3 months in her area; I gave her information about Comps and ways to value property; I let her talk about the difficulties she has been having and why she thinks the bank should allow her out from under the home.
Her situation demands she collaborate with an agent who understands her personal goals and wants to solve them in a collaborative and open way. I told her she needs a short term marriage with an agent who can figure out how to distribute the 3% commission she wants to offer. I suggested working with a good agent that her strategy for getting what she wants is far more likely than just looking for a discount person. As an Antique dealer she knows this. What she asked for is not what she wanted. You need to ask questions.
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