4 Words a Seller Never Wants to Hear!

By
Managing Real Estate Broker with Flexit Realty "Flexible Home Selling Solutions"

Sellers want to believe their home will sell.  

Sellers want to think it is a beautiful to others as it is to them.  Sellers want to believe the value they see in their Selling Your Home www.FlexitRealty.comhome will be apparent to buyers as well.  Sellers Want to believe.

Real estate agents are the trained professionals that make that belief possible.  When it doesn't happen it is the agents fault in the eyes of many sellers.  This can be true and it can also be the sellers lack of market understanding.  This is something else sellers do not want to hear.

I know I have been both and am an active real estate broker that no only counsels sellers but markets and promotes properties for sale.

The four words sellers never want to hear?  You're Priced Too High!  I don't blame sellers for not wanting to hear these words.

Pricing your home wrong to sell is like burning Money!  www.FlexitRealty.comThink of your original presentation to get the listing.  Sellers ask questions.  Did you give them answers to the facts or answers to what they wanted to hear to get the listing?  Agents may miss a listing by telling you the truth instead of what you want to hear.  If that is the case, you are only fooling yourself into a false sense of security on your home being able to sell faster and for more money.  Don't burn money by pricing wrong.  Price drop after price drop only confirms the sell price was wrong to begin your home selling process.

Sellers want facts.  If the facts are not accurate then sellers can not make an informed pricing decision.  In todays market, which is different in different regions of the country, state and by city.  Keeping a close eye on the market conditions, trends and mortgage financing is critical to selling and always has been.

Don't be afraid to ask questions, get justification for statement made about the market and projected sell price of your home.  Many sellers do not take the time to review and understand the tremendous market advantage they can create by pricing their home to sell.  I didn't say give away...I know every home has a price a buyer is willing to pay.  Conversely every seller has a price they are willing to accept too!

Today price is used more than any other single factor in determining success.  Car companies compete on price, window companies compete on price and installation, gas stations fluctuate fuel prices almost daily.  Grocery stores adust prices almost as fast as the weather changes.  It is no wonder home prices are competitive.  In a buyers market home prices have always been competitive.  More homes for buyers to choose from with fewer buyers make home pricing a key factor in successful selling.

Is price the only factor?  NO!

Location, Condition, Layout will be considered as well as price.  First is always price range.  Not price specific butPricing to Sell www.FlexitRealty.com price range.  If your home is priced within the buyers price range your home will get a preliminary look.  That look can take place on a computer, a drive by or a brochure.  

So price, is a factor and a key factor.  Your home must be priced similar to other homes of your square footage, location and condition.  If not you have to justify online, in copy to get a buyer to want to see your home.  Real estate agents must provide the descriptions and visuals to generate buyer interest but agents can not do repairs, mowing and edging, painting, cleaning and pricing.  

Agents only suggest what price to market your home or property based on what they see and your willingness to help them achieve the highest possible selling price for your property.  

Real estate agents job is to expose your property to as many buyers as possible.  I would use a monthly evaluation of the selling process to meet my selling goals.  What is happening in the market.  What have other sellers priced their homes.  Have any home competitive to my home lowered their prices?  What can I do within reason to improve my buyer showings.

Work with your agent, understand the selling process and get your new life started in the home or condo of your dreams with a sold sign in your front yard!

If you live in the Grand Rapids, Michigan real estate market and would like a professional selling your home please give me a call.  I am not soliciting properties already listed by another agent or brokerage.

If your listing expired or you are thinking of selling give me a call we will discuss your options and price values in this market before you make your decision.

Gary L White associate broker, Flexit Realty www.FlexitRealty.com

 

 

Call Today for a Free Sell Price Analysis (no obligation)

Phone: 616-784-2360

Email: GaryWhite@FlexitRealty.com

Website: www.FlexitRealty.com

1930 Fuller NE, Suite B, Grand Rapids Michigan 49505

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Groups:
Realtors®
Michigan Realtors
Greater GRAND RAPIDS, MI Real Estate
Tags:
selling your home
pricing to sell
selling faster
marketing your home to sell

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Rainer
41,772
Sara Garden
Rocky Mountain Home Staging - Boulder, CO
MBA, HSE, HSR, APSD, Home Stager

OOOh nice post. And so true. A few other word combinations that sellers don't like to hear. "Your house smells." "We might want to paint that." "We need to move the dog crate/bed/dish." sometimes you have to give them a little tough love though...

Oct 19, 2011 05:07 AM #1
Rainmaker
130,196
Carolyn Shipp
Source 1 Real Estate - Mineral Wells, TX
Mineral Wells Texas Real Estate

That is a statement that they tend to ignore if possible.  I had one a couple of years ago where I informed the sellers that they were priced about $10,000 too high.  They were extremely dismayed and kept telling me how when they had it on the market as a FSBO, they got three and four calls a day on it...but no offers.  Again, I explained the market, what was happening and why in that particular area it would not sell for that much.  Another problem...they had paid too much for the home...but that's another story.  Anyway, two years later they have contacted me asking me to put it up for less than I had counseled them two years ago.  I hope to get it sold quickly for them now, but I could have saved them two years of mortgage payements, taxes and insurance...the house has been vacant for a majority of that time.

Oct 19, 2011 05:14 AM #2
Rainmaker
1,118,644
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Nice post.  A good reminder to make sure your listing presentation matches up with the market valuation that you are presenting.  Thanks for sharing.

Oct 19, 2011 05:34 AM #3
Rainmaker
1,073,964
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Sara, all points that must be considered when selling.  Thanks for the comments Sara.

Oct 19, 2011 05:47 AM #4
Rainmaker
1,073,964
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Carolyn, they called you back because you told them the truth.  They know they could have saved those mortgage payments, tax dollars and maintenance but...they knew better at the time.  I have been their myself.  Time is not always the best teacher but it certainly has a way of reminding you what not to do again!  Thanks for the comments Carolyn.  Good Luck with the sale.

Oct 19, 2011 05:49 AM #5
Rainmaker
1,073,964
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Laura, it does make you wonder when you are called to a sellers home and they give you numbers that others have written out in a market study.  Thanks for the comments Laura.

Oct 19, 2011 05:51 AM #6
Rainer
37,916
Krista Abshure
Fathom Realty - Fuquay Varina, NC

I agree!  We make sure to the seller during the listing presentation the truth!  We let them know we may not always have the answers that they WANT to hear, but we will always give them TRUTHFUL answers that they need to hear.  2 years ago some sellers did not want to hear this and would focus on what other agents had told them, now with the market change the sellers are so grateful for us showing them real numbers, being honest with them and allowing them to set realistic expectations for the sale of thier home.

Oct 19, 2011 06:42 AM #7
Rainer
230,898
Linda Urbick
RealtyOne Group - San Ramon, CA
Selling San Ramon Valley - 925-786-5132

If we don't tell the truth up front how can we come back later with a new story. If we advise clients properly verbally and in writing, then they have the facts. In the end it is the sellers decision and if we take an overpriced property, it is up to us to counsel them up front that if it doesn't sell in xxxxx days or weeks. then a price reduction is in order.

Oct 19, 2011 01:43 PM #8
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Rainmaker
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Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375

Real Estate Services You can Trust!
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