I Know I Will Not Get it, But This Is What I Want For My House

Real Estate Broker/Owner with Eastern NC Homes

I Know I Will Not Get It, But This Is What I Want For My House

I've had several interesting conversations with some folks considering selling their homes recently.

We are in a tough real estate market in a small town in eastern North Carolina called New Bern. We have at least 18 months of inventory on the MLS and sales are tracking below 2010 year to date. Prices are still "stabilizing" or falling which ever you prefer.

The thing that I have tried to uncover in these conversations is their personal motivation when I ask them, "Why do you want to sell?"

The answers have been rooted in logic but underpenned by emotion.  They all had good reasons to want or need to sell but when it came to what they thought they could get for their house, emotion took over.

The question I would like to propose is "How did you come up with that?"

Here are a few of the answers I got.

  • The tax value of my house is this and I know it is worth more than that.
  • We moving to "X" and we need to get "Y" to make this work for us
  • My house is the nicest home in the neighborhood, I know
  • I know I will not get what I want, I just need to get it on the MLS and wait for my price
  • We're not in in hurry we just want to get it listed and we want all we can get.
  • We know it needs some repairs and improvement but we're not doing anything to it.
  • I bought a boat with the home equity loan and we have to cover that as well.
  • We're in no hurry , we just want to list it now, for this amount. We don't care how long it takes.
  • We're not going to give it away
  • Just bring us an offer, we deal then maybe....

Does  any of this sound familiar to you? These answers have nothing to do with what a buyer thinks your home is worth to THEM!

My recommendations come back to these key points.........

  • If you really want to sell in 90 days let's get an apprasial done so we don't leave any money on the table..we have a professional documented "opinion of value".
  • Let's spend some time and money de-cluttering and doing some staging
  • Will you do be willing to offer a "home buyer's warranty"?
  • Are you willing to get a home inspection done and address repairs needed in advance of putting it on the market?
  • Do you know what homes have been selling for in your neighborhood? May I show you?
  • What do you think about a car that sits on the lot or someones corner for a long time?

If you can make progress with the "recommendations" you really see where you stand as a real estate agent and your chances of not only selling the house, but getting paid and recovering your marketing costs as well.

In most real estate deals we get paid for the results, "a closed sale or finalized transaction". Until then we are burning daylight and spending our money. If it does not sell, it's our fault, we're not good agents.

In a buyer's market, it is said that the buyer controls the deal and has all the cards. They call the shots and "you should feel lucky to get your home sold", right?

I submit the seller holds all the cards you should be interested in if you work as a listing agent in any market.  If your cards are not right, you'll never get to the poker table.

*BTW... this is my 50,000 point post on Activerain. I have contributed more info and opinions than anyone else in my local market. Thanks Activerain!

Comments (8)

Niema Thomas
Century 21 Beachside - Alta Loma, CA

It's true in a seller's market. The seller holds all the cards. If you are working with a season seller and wants to get there home sold then you will get to the poker table much quicker.

Sep 18, 2011 03:45 AM
Michael L. Brownstead
Brownstead Real Estate, LLC - Frisco, TX
ABR, GRI, MRP, SRS, 1SG US Army (Ret.)

Homer, very great points made here by you! I continue to preach that "pricing" is key to marketing a property and if a property is priced above market value, it MAY NOT sell and the seller blames who? Their agent!

Sep 18, 2011 03:47 AM
Homer Ray
Eastern NC Homes - New Bern, NC
Eastern NC Homes

I believe 50% of all listing do not sell with the first agent..Price is #1

Look at the agents who work expireds...



Sep 18, 2011 03:52 AM
Jacki Shodja
Home Staging in Orange County and LA - Ladera Ranch, CA

What a great post and congratulations on getting to 50K! I lived in Goldsboro, NC for many years, but now staging homes out in Southern CA. If the seller is not willing to do some work up front and to be realistic about their home's value TODAY, then you are spinning your wheels and probably wasting your marketing dollars.


Sep 18, 2011 03:53 AM
Homer Ray
Eastern NC Homes - New Bern, NC
Eastern NC Homes

Thanks for responding.  It is a business relationship between the owner and the listing agent.

Sep 18, 2011 03:58 AM
Homer Ray
Eastern NC Homes - New Bern, NC
Eastern NC Homes


Thanks...I don't think we always look at it as wasting our marketing $, I did not at first, but do now.

Goldsboro to CA...WOW!

Sep 18, 2011 04:01 AM
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Congratulations on your 50,000 points.  You have some good discussion points with the seller.  Following your conversation, if there is no budging on the seller's part to see reason, I would ask them to tell me...why should I want THIS listing?

Good luck on your next 50,000


Sep 18, 2011 04:07 AM
Homer Ray
Eastern NC Homes - New Bern, NC
Eastern NC Homes

Mona, Thanks

Yep, that's what I'm thinking too...This is a money making enterprise for us, right??

Cool name for a company BTW...

Sep 18, 2011 04:14 AM