Explaining The Quick Sale To A Seller

By
Real Estate Agent with Keller Williams Realty 0575737

Quick SaleThere is a joke in real estate for the uninformed that a "SHORT" sale is anything but short with the timeframe to close. Short of course refers to a payoff that is SHORT of what is owed the lender, due to a distressed situation of some sort. But,

How Do You Explain A Quick Sale To The Seller?

I think the seller is happy. But selling it in one day or the first week? You the agent must seem like a magician, but then the SELLER starts to think those mediocre bucks you are earning are not well earned. Think on a multi-million dollar home the feeling. Sales follows a statistical curve of EASY homes to sell in short times to dog homes which expire the listing and YOU the agent are something from the evil empire and a complete boob and incompetent. Some explanations that may be a fit of why it is is QUICK:

  • priced right, or under priced for market
  • excellent move in ready condition
  • lowest priced home in neighborhood of higher prices
  • much desired location
  • much desired school district
  • much desired floor plan or amenities
  • right buyer husband or wife timing came along and fell in love with the property
  • you had a buyer in mind when you took the listing or your office mates
  • DUMB LUCK (trust me it happens)
  • your ongoing marketing efforts, people and agents are watching you

YES they want to take those mediocre bucks away from you thinking you are stealing from them in VERY QUICK deals but if they could see all the money you spend that goes to an expired and you are a bum on those long in the tooth ones. They agree to pay you in one day or 400, that is the wacky life of an agent.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 10/18/2013 04:42 AM
Topic:
Real Estate General Information
Location:
Texas Denton County Flower Mound
Groups:
Realtors®
Coaching and Mentoring
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Diary of a Realtor
Tags:
quick real estate sales

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Rainmaker
2,672,475
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, often times, this means that the agent did a great job in pricing the house right and the coaching the seller in how to prepare.  Unfortunately, many get suspicious of this even though it's a huge blessing and testament to the agent.

Oct 17, 2013 08:49 PM #14
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I am in such a situation on  rental property. The first person who saw it made an application .

Oct 17, 2013 09:20 PM #15
Rainmaker
3,278,467
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Gary, if you want luck in this business, create it! Enjoy your day!

Oct 17, 2013 09:34 PM #16
Rainer
146,002
Andrew Payne Realtor® Richmond VA Homes For Sale~804-938-5257~
Coach House Realty - Richmond, VA
Richmond, VA, Real Estate, SRES®, NAR Green

It's amazing how quickly some properties do sell.  Some locations also just happen to be highly desirable.  Location, price and condition of property are likely the three top reasons that contribute to a quick sale.

Oct 17, 2013 10:35 PM #17
Rainer
12,995
Robbie Breaux
Van Eaton & Romero, LLC a Latter & Blum Company - Lafayette, LA
Robbie Breaux & Team Sells a Home Every 3.29 Days!

My favorite script for the quick sale ... "Look at the bright side, you don't owe me a bonus for doing my job well." and smile. 

Oct 17, 2013 11:18 PM #18
Rainmaker
2,455,814
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

My business card reads...Helping to get you in or out of the Real Estate transaction effectively and efficiently...That's all I know and that's all I do...good post

Oct 17, 2013 11:48 PM #19
Rainmaker
3,133,850
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I love the comments above, especiallys Robbies LOL...great post and a wonderful feature!

Oct 18, 2013 12:24 AM #20
Ambassador
1,641,860
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I have seen prices where someone is paying over comparables even with some appreciation thrown in and I call that selling by The Greater Fool Theory.

Oct 18, 2013 02:12 AM #21
Rainmaker
90,505
Goran Utvic
606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656 - Chicago, IL
We Buy & Sell Chicago Houses Fast

I think a fast sale should come with a bonus!

Oct 18, 2013 02:27 AM #22
Rainmaker
592,907
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Gary,

Good article! I love the cartoon.

May I add one though? Your list should included: "Well marketed/presented."

Every Agent, every Office is (hopefully) going to present the same facts. Banks, Appraisers, and Investors only deal in facts about houses, but most buyers are looking for a home. To be successful an agent needs to do two things beyond your list.

An Agent must "market" the listing to the right buyer!

An Agent must "present" the property in an appealing manner, they must paint a picture in the buyer’s mind! Facts are facts in the same manner as paints are paints, any one can paint (I can with a spray can of Rustolum.) But few can create a Mona Lisa!

Back to your list: Every one of us from time to time has look good based on nothing more than "DUMB LUCK!"

Bill

Oct 18, 2013 03:16 AM #23
Rainmaker
145,491
Laura Foreman
Referral Maker Real Estate CRM - Carlsbad, CA
Copywriter, Buffini & Company

Great post, Gary!

Oct 18, 2013 03:32 AM #24
Rainmaker
978,722
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great list of reasons a home sells quickly.  Dumb luck is one often over-looked reason a home sells quickly.  Sometimes the right buyer has been waiting in the wings for that exact model to be listed for sale, then BAM, it sells! 

Oct 18, 2013 04:45 AM #25
Rainer
314,644
Jimmy Faulkner
Florida. Homes Realty & Mortgage - Wantagh, NY
The Best Of St. Augustine

Good reasons for why homes sell quickly and I too think dumb luck is always there. Lady luck is not a misnomer but rather a reality that is there if you are working hard and smart. Nobody is going to be happy if it sells fast, They think you undersold the home.

Oct 18, 2013 09:14 AM #26
Rainmaker
451,080
Kelly Young
The Platinum Group Realtors - Colorado Springs, CO
Colorado Springs Real Estate ~ 719-226-0126

Gary, showings for some properties are now coming in before it hits the MLS because of the inventory shortage for a specific type of property that a buyer is looking for.   Sometimes a buyer walks in and the one is the first one they see.  A good day for all invovled.  

Oct 18, 2013 12:05 PM #27
Rainmaker
1,792,771
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Gary, it usually is some smart alecked friend who makes the comment to them that gets their minds really on edge...they need to know how much time and effort you put into it upfront & why you had dumb luck! lol

Oct 18, 2013 08:59 PM #28
Rainmaker
2,189,769
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Back when I started selling real estate in the 1970s, I specialized in the 7-day close. 7% down and 7-day close. Now I do short sales which is more like the 700-day close sometimes.

Oct 19, 2013 11:20 AM #29
Rainer
97,994
Lara O'Keefe
North Texas Home Finders - McKinney, TX
The quick sale is happening more and more with low inventory in our DFW market. A lot rests on setting expectations of current market conditions.
Oct 19, 2013 03:15 PM #30
Rainmaker
522,019
Lisa Friedman
Great American Dream Realty - Essex, VT
30 Years of Real Estate Experience!

I actually don't like having ultra fast sales because of what you wrote - sellers think you underpriced it, etc.  Give me a 30-45 day sale any day over a first two weeks on the market.

Oct 19, 2013 03:44 PM #31
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I prefer a few showings before receiving an offer. If the first person to see the house makes an offer, sellers often say they should have listed it for higher price.

Oct 19, 2013 09:04 PM #32
Rainer
8,983
Roy Caldwell
Century 21, Golden West Realty - Golden, CO
Call me right now!

I agree that it is all of the above: location, price, condition and a pinch of good luck go into a quick sale. When you work hard, have a good marketing plan and be the best you can be, sometimes good things happen to you.

Oct 20, 2013 04:01 AM #33
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Gary Woltal

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