Any Other Bids for This Listing? Come On, Agents

Reblogger Josette Skilling
Real Estate Agent with Keller Williams Capital Properties

This is the hardest thing for sellers to understand.  And yet I cannot for the life of me understand why they don't get it.  The house is worth what it's worth.  You are hiring a marketing expert to help you get it sold!

Original content by Jon Zolsky, Daytona Beach, FL

If you are at the dealership and you ask the salesman how fast can this car go, and you do not like what he tells you, assuming you want a faster car, you need to look for another car, not for another salesperson…

It is true everywhere besides Real Estate?

Our friends retired and decided to move closer to their children in California, so they started thinking of selling their home. It is not that far from us, but not in our area, and we are no experts in their neck of the woods. We know that the market is far from great for the Sellers anywhere in Florida, but they kept indicating a high price for their home, in the $300s. That’s what they have figured. A similar home here in Daytona Beach area could be about $180K.

Image of Puzzle - Jon Zolsky blogThey are active people, started making appointments, interviewing agents, and they were not particularly happy. I got too involved, which always happens to me, and I offered help. I told them that I know how to find a good agent, and I promised them the best agent there. I did my research and contacted the agent. We had a nice chat, she sure knew business, and I was confident she was an excellent agent for my friends. She then called me and said she had scheduled a visit.

When I called the Sellers to ask how the interview was, they laughed. They said she was just pulling their leg, she did not know crap, and she had the chutzpah to suggest listing it for …$189,900. This was the lowest of all agents. There was one for $369K, the other $316K, and there was someone else suggesting $309,900.

Our friends said that they were considering giving the listing to the agent, who was going to sell for more.

They wanted to make the most from this sale.

I told them that they most probably would end up waiting for couple of months and then the agent would suggest drastically reducing the price.

The friendship got a big dent. They did not call us for a few months and we did not call them. My wife once again demonstrated her excellent abilities to foresee the situation … in the hindsight… I shouldn’t have gotten in the middle… yeah…

Our mutual friend told me that I was wrong when I said that the agent would then come two month later and suggest reducing the price. It happened in two weeks. She did not suggest $189,900, it was less dramatic, but in another 3 weeks she called them again and started explaining about the market. They took it off the market.

And then they called and told me that they wanted to rent it and asked me whether we would help them with the lease.

Of course, we did.

P.S. In Real Estate you do not get what you want to get, but what others are willing to pay for your property.

Picture of Jon Zolsky - Ponce Inlet, FLDo not say “that’s what I have to get”, always ask “What can I get for it in today’s market?”

And if you can, just stay away from some friends. Follow your gut feeling…and listen to what your wife will tell you in a month or so (LOL)

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Rainmaker
570,635
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI RE Adventures

We have seen this situation since the beginning of real estate sales.  I'm sure we will always see this no matter what the market is like.

Dec 15, 2010 12:46 AM #1
Rainmaker
302,074
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Josette, this is a great post. He makes some great points and unfortunately, as we all know, sellers seem out of touch with reality regarding the value of their home.

Dec 15, 2010 12:48 AM #2
Rainer
246,024
Shannon Coe
Keller Williams - Rocklin, CA
916-597-3818, Lincoln, Rocklin, Loomis, Roseville

Hi Josette, I hear you. And if we do get an offer that is high, the appraiser will

put it back down. I am praying for an appraisal to come in today!

Shannon Coe

Dec 15, 2010 01:04 AM #3
Ambassador
1,730,056
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Josette,

I saw the reblog and felt honored. I am glad you like it. It is alwasy frustrating when the Seller makes a parade of agents and then chooses the one who promises the most.

They are not going to walk away from reality, but they do not accept it at this point.

Dec 15, 2010 10:24 AM #4
Ambassador
1,730,056
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Josette, I forgot to mention... you have an excellent header. Very cool, very professional. Did you do it yourself?

Dec 15, 2010 10:25 AM #5
Rainmaker
105,533
Josette Skilling
Keller Williams Capital Properties - Bethesda, MD

Jon, It was great!  I posted one a while back that said "I'm your listing agent, not bidding on your house."  And the header was done by my former marketing dept (when I was at L&F).  Left there Friday at noon and now at Keller Williams.

Dec 15, 2010 11:02 AM #6
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