Hind Sight is 20-20!

By
Real Estate Agent with Real Estate Solutions 2002018857

This is my entry into the Mistakes that Sellers Make Challenge:

Back in 2003- I sold a cute little house to a young bright eyed couple that were eager to get married and have kids.

Cute little house

Fast forward to 2012- this same sweet couple now has two kids under the age of four.  They grew out of this cute little house.  I went to the house to tell them what they needed to do to get it ready to put on the market. 

A List of 12-14 items, all of which were fairly small items;

  • replace the broken dishwasher
  • paint the walls with the kids art work all over them
  • put the maze of boxes crammed in the basement into storage
  • Paint the small front porch
  • put the front of the kitchen drawer back on- we can't leave it in the cabinet next to the drawer...
  • clear off the counter space so the kitchen looks bigger
  • take the dirty diapers outside so the house smells better
  • re-caulk the bathroom- the caulk lines were black
  • Fix the broken fence in the backyard

I can't remember the rest of the items as it has been a few years. They refused to do any of the work!  And they wanted to price it at 165,000.00 rather than the 150,000 that I suggested.  Needless to say they finally after a long 6 months (and several price reductions) had an offer come in- for 137,000.00 and we paid buyers closing costs.  Now only did they not get what they should have for the house by not fixing anything- they ended up fixing all of it during the building inspection. 

In the end- they did make the sale and wasted a lot of time and loss of equity!

close

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Missouri Saint Louis County
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Tags:
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Rainmaker
1,729,281
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Shanna ...I see this all the time ...a lot of times our clients think they know more than we do ...and in the end we are right most of the time. Very nice entry in the Mistake Challenge!

HAVE A GREAT NIGHT!

Jan 15, 2014 06:48 AM #1
Rainmaker
1,337,490
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Shanna,

These things happen.  All we can do is coach and educate.  If they don't listen they will pay for it one way or another.

Jan 15, 2014 08:00 AM #2
Rainmaker
4,158,621
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shanna, these sellers should have listened, and would have seen much more on the bottom line!

Jan 15, 2014 10:43 AM #3
Rainmaker
791,004
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Shanna, your point about the sellers fixing things NOW or fixing them LATER at a lower sale price is absolutely spot on!  Buyers tend to multipy the cost of fixing or repairing things if they aren't done and that is usually reflected in a much lower offer price.

Jan 15, 2014 10:44 AM #4
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Thanks Rob!  I just wish the people that hired us took us seriously- otherwise they are wasting even more money...

Jan 15, 2014 11:05 AM #5
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Wayne and Jean- This couple wasted a lot by not listening- I could have sold their house quickly if they had done the small things that I asked them to do and for asking price without paying for any closing costs- the house was in a neighborhood that is always "hot."

Jan 15, 2014 11:07 AM #6
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Joan- 100% agreed- thanks for reading and commenting!

Jan 15, 2014 11:08 AM #7
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Bruce you nailed it on the head!  Why wait to fix something if you are going to have to fix it later and it can make you more money if you do it now.

Jan 15, 2014 11:09 AM #8
Rainmaker
3,983,683
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

If the house had been move in ready...manymore finance options would have been available and better buyers would have come along.

Jan 16, 2014 04:05 AM #10
Rainmaker
516,438
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

They ask for our guidance because we know the business and then...don't listen. Amazing and such an expensive lesson.

Jan 16, 2014 09:57 AM #11
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Bill- that make even better point- thanks for stopping by and commenting!

Jan 17, 2014 03:21 AM #12
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Russell- It amazes me how people hire us then they do not listen...  I had a neighbor of a house I was listing tell my seller that he could sell it for $20,000 more than I was listing it for...  I said- "Please do!"

Jan 17, 2014 03:22 AM #13
Rainmaker
4,158,621
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shanna, wonder why sellers call for your expertise, yet do nothing to help themselves.   Could have had a much different ending!

Jan 17, 2014 10:35 PM #14
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Joan- I still don't think they even understand- they lived in the house for 7 years and when the inspection report came back from the buyers- they were made because their inspector didn't find all of the issues- I found their inspection from when they bought it and emailed it to them- I had to explain that all of this stuff happened after 7-8 years of not taking care of the property... 

Jan 20, 2014 12:31 AM #15
Rainmaker
2,394,983
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

A touch lesson for that young couple, probably soured themselves on home ownership! It's to bad they didn't listen.

Jan 28, 2014 09:00 PM #16
Rainmaker
432,062
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Evelyn- thanks for stopping in!  I left out a lot of the information- I would describe this couple as entitled and spoiled.  I think I may have portrayed them as victoms- but they were aware and stubborn.  They actually asked me to break the law at one point because "We are the client"...  Clearly I did not break the law;)

Jan 29, 2014 12:03 AM #17
Rainmaker
4,158,621
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shanna, perfect example where Sellers think they know how to sell a house and all that goes into it!

Jun 13, 2014 10:45 PM #18
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Rainmaker
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Shanna Hall

I love selling houses!!!St. Louis, MO 314-703-1311
Ask me a question- I am here to help!
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