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#15 of 100: How Much Would You Pay For Your House, Mr. Seller?

By
Real Estate Agent with Zuber Group Real Estate

Sellers have every right to be proud of their property. And they have every right to be proud of the thousands and thousands and thousands of dollars they spent in upgrades that nobody else on the planet would have paid for, expect them! … And every once in a while, they’re just a little too proud and may need a tiny bit of enlightening.

With that said: A paper CMA (comparative market analysis) usually doesn’t shed the correct light that a seller needs to see …

But nothing compares to throwing your sellers in your car and hauling them into some higher quality castles around the neighbor that have sold, are currently pending, or active at a lesser price!

Yes, I do know … that some sellers will still believe, without a doubt, that the $10,000 they spent in country style rooster wallpaper will never compare to new modern paint!

That’s when it’s time to flip it around, and ask them: If you were buying your house in today’s market, how much would you pay for it? LISTEN, and see what they say!

It’s amazing how quickly the tables turn when the seller has to look at their own property from a buyer’s perspective.

As an agent, if you’ve shown them on paper, you’ve shown them in person, you’ve flipped the scenarios on them and they are still stuck on their out of whack price …

Try this …
 
Mr. Seller: There is no way I can take less than $325,000 for this house … it just not feasible, I won’t do it no matter what! I can’t afford it! I don’t care about those other houses; some people are just desperate and crazy!

Agent:  No sweat Mr. Seller!  Just needed to confirm that … if I get a call later this week from a buyer/ or agent stating that they have $300,000 CASH and can close in 10 days, but will not pay a single cent over $300,000 No Questions Asked, No Matter What! … That I will tell them to blow smoke and take a hike!

Mr. Seller:  Wait Wait Wait Wait Wait  … hold on there. That’s different!  If we got an offer like that, I would sign it and move out of here tomorrow.

Agent: Imagine that, I create one realistic scenario and the sellers drop their price by $25,000 in less than five minutes.

You’ll never believe this … but sometimes sellers just aren’t realistic! No matter how many stories you tell or education you provide, or comparable properties you take them to … They just don’t respect the market! Or don’t respect you and your services! Or they are just too damn stubborn to admit the truth. In that case, move on!

 

Craig Zuber- Story #15 of 100 over the next 100 days


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Comments (6)

Mary M. Kandell
Russell Real Estate Services - Sandusky, OH

Craig, I like your idea of taking the sellers to see other listings.  If both you and they are willing to make the time committment to do this, I think it would prove very enlightening.  

Feb 02, 2011 01:18 AM
Chris Smith
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta

I have done this at times when I feel that Sellers have unrealistic expectations.  Great idea, Craig.

Feb 02, 2011 01:49 AM
Michele Miller ~ REALTOR®, LMC, HSE, CHS, SRES, CMRS
ERA Key Realty~Worcester County Realty Group - Worcester, MA
'Helping You Make the Best Move"

Craig,

Some sellers can be difficult to "SELL" on the offers they receive. I find the one who hold on to a certain price, never sell.

Feb 02, 2011 02:00 AM
Don MacLean
New England Real Estate Center Inc. - Easton, MA
Realtor-Homes for Sale- Easton, Mass 02356

I didn't realize this would be a comedy

Sometime sellers aren't realistic. Now thats funny. When moving to a place like Florida please do not try to compare what your getting there and for how much to what your selling.

Thousands of miles and dollllars apart lol

Enjoy the day

Feb 02, 2011 02:06 AM
Don MacLean
New England Real Estate Center Inc. - Easton, MA
Realtor-Homes for Sale- Easton, Mass 02356

I didn't realize this would be a comedy

Sometime sellers aren't realistic. Now thats funny. When moving to a place like Florida please do not try to compare what your getting there and for how much to what your selling.

Thousands of miles and dollllars apart lol

Enjoy the day

Feb 02, 2011 02:06 AM
Kim Inman
Mountains to Lakes Real Estate, Inc. - Harriman, TN
CRS, Broker/Owner

You would think in this market that sellers would be more realistic.  In our market area sellers could get more out of their house and spend less time marketing their properties in 2005-2007 than what they can now.

Feb 02, 2011 07:39 AM