TOP DOLLAR DYNAMICS (real estate theme)

By
Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

Money makes the world not only go round but is one of the necessities of life. We learn this very early on and train ourselves to be a person that looks for opportunities. Using the dynamic of one thing leads to another, we finally come across our success and it tastes sweet so much so we want more of it. This is expected. However, something comes to interfere with it all...

GREED ON THE HUNT!

This is a subjective dynamic to be sure and if you strive for one penny more than you know you shouldn't have or want or to go about it in a questionable way may lead to "greed" entering in. Sometimes it can cost you money trying to get the most money or advantage out of something. It spares no one and once ingested becomes very addictive effecting behaviors, thinking & character. We want results in sales not stories to tell

SELLING SOMETHING?

Selling a home is a sellers chance to win big & even BIGGER!. They are over-whelmed with the thought of gaining but not so much as losing. Expenses & misspent time are losses while gains (results) are the prize but at what cost? I have seen clients object to commissions, escrow costs, too low pricing and the like so they can have more. I have seen good offers turned away for same or silly reasons. What ever happened to a bird in the hand principal? In big money scenarios I have seen that two birds in the bush may be the target

CURRENT EXAMPLE OF HOUSE FOR SALE 

I have a client who wants top dollar and so do I. He can't make up his mind on pricing and I have submitted 5 comps to narrow it down. It is a question of about $25,000 if we go market price or his price. He is in torment not able to decide. Are we forgetting the rest of the sale money (equity) to be had? Let me explain...

GET IN AND GET OUT EFFICIENTLY AND EFFECTIVELY

We forget that a sale is our most important point to reach and getting there is full of obstacles. Trying to squeeze a lemon dry takes as much effort as reaching for another and having at it. Too much time spent when not necessary is not good time spent at all. Acts of God and man lurk. Why jeopardize the "chunk" equity? Why subvert the mission? Anything for sale must be sold not played with. Get-in & get-out!

BEFORE THE CRASH

There were many trains of thought before the last market crashed and burned. Flippers were buying Real Estate and selling it with quick, fast returns. They understood the bird in the hand is worth more than two in the bush concept. Egging this on was the stagnant stock market. Sellers were anxious to cash out and buyers wanted to get in. THEN, the music stopped (as in musical chairs). Got chair? No one seen it coming either

LIGHTNING SPEED LOSSES

Flippers got stuck with a product that they never wanted to own. Sellers who wanted to sell for top dollar missed the window. The market itself shifted from a radical seller/buyer market to a seller standstill and a buyer beware! The market came to a abrupt stop. The banks were faced with loans on deflated Real Estate

 REAL ESTATE MARKET ANALOGY

I had the mother of a woman at an open house tell me in front of her daughter that her daughter just won't take the steps to buy seriously & keeps putting it off yet she is interested in buying. I turned to the daughter and said: Real Estate is like a slow-moving freight train that never stops. We must be prepared to jump-on or off if you want to ride this train anywhere..

WAIT FOR MORE MONEY?

Just like there are all different people to make the world go-round sellers are no different. I have seen quick-sales, wait & see sales & no sale-sales plus everything in between. We lose track of the fact of the dynamics of the game itself. Imagine playing chess/checkers & no one makes a move? There is no game!!

SELLERS MATH

For those sellers who have a mortgage in addition to other expenses, waiting months to get an unreasonable figure also has you paying months of expenses. Expenses stop once the sale takes place. Whats the point of paying more to get that same more...down the road? Take what you can get NOW and begin the new life!

BUSINESS-MORALE

I visited a premier car dealer that was the mother of all car-purchasing places specializing in several high-end brands of cars. Two beautiful stories high and blocks long of razzle-dazzle cars for sale with people so enthused to help & dressed for the occasion. The joy of doing business permeated the air. Furthermore...

 EVERYTHING & THEN SOME

This place had a retail, eating, & media center in addition to different departments designed to move cars from the dealer to the purchaser in the most pleasant ways possible. All employees walked around in a high-state results smiling, assisting & delivering on the reason why YOU were there! Buy & Sell-Sell & buy

REAL ESTATE UPS THIS

The same stakes and dynamics should exist in healthy buy/sell dynamic. Anyone NOT on board with the buying and selling puts brakes on the operation. Why do that? Don't learn this the hard way. I have seen stubborn sellers change their minds and chase sales and pay to do so. Why not begin on the right foot?

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Sally K. & David L. Hanson 04/07/2019 07:34 AM
Topic:
Real Estate Sales and Marketing
Tags:
listing
selling
buying
marketing
equity
days on market
market value
top dollar
results
selling strategy
real estate
morale
mission accomplished
ran right realty
bird in hand
costs of business

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Rainmaker
372,355
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Great post! I have a seller who knows "everything about the market and selling," and has made many of the mistakes mentioned above. Thus, we have been following the market down ever since she insisted we list at her "Let's try it for 2 weeks" price,  which she then wouldn't reduce for 3 months. I know...I was just as much to blame for taking the listing in the first place. Perhaps my "greed" was in accepting the listing in spite of the red flags!

Apr 07, 2019 03:45 PM #7
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hi there Gwen Banta ...everyone should look at themselves as well as the other guy when appropriate Gwen. We all live, learn and do our whatever we do

Apr 07, 2019 03:51 PM #8
Rainmaker
3,148,817
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Richie where is the Feature Button, loved this post too bad you did not get the coveted Gold Star.... Loved the Freight Train Analogy:)Endre

Apr 09, 2019 11:36 PM #9
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

So good of you to stop-in and share thank you Endre Barath, Jr. ....

Apr 10, 2019 06:30 AM #10
Rainmaker
1,824,857
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Richie - Why not begin on the right foot?  I guess some people don't want to be confused with the facts.

Apr 10, 2019 06:35 AM #11
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

You know Grant Schneider ...the learning curve is just for that purpose

Apr 10, 2019 06:39 AM #12
Ambassador
3,745,899
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Richie-I love your comment about the slow-moving freight train!!!!  another well-done post. 

Apr 13, 2019 02:09 PM #13
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Kathy Streib ...kinda spells it out in a child-like way doesnt it? Best to you

Apr 13, 2019 02:16 PM #14
Ambassador
3,745,899
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                                      

                                                   Thank you, Richie. 

Apr 13, 2019 06:51 PM #15
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Kathy Streib ...how pleasant it is to recieve a visit from this woman

Apr 14, 2019 06:47 AM #16
Rainmaker
3,212,206
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Richie - getting started on the  "right" foot helps in avoiding being "left" behind.

Apr 14, 2019 07:06 AM #17
Rainmaker
278,768
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

It is interesting how sellers look at the proceeds from their homes.  They often think if they "save" money (no agents or offering reduced commissions to an agent who brings a buyer and would really help facilitate a successful close) they make money.  Saving money is not the same as making more money with the sale in the right hands.  Then, if the house never sells, well, that is another conversation!!

 

Apr 14, 2019 07:53 AM #18
Rainmaker
3,751,489
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Richie Alan Naggar ,

I'm so glad that Kathy Streib featured your post in her "Ah-Ha" moments for the week as I missed this well written and so true post! If you don't price it right from the beginning you'll experience a less then happy experience! Some sellers just don't understand and it is up to us to explain it to them.

Apr 14, 2019 08:10 AM #19
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello Michael Jacobs ...the old reliable RIGHT foot, right way and right-O

Your sharing is spot on Shirley Coomer 

You know Dorie Dillard CRS GRI ABR ...the majority find out after the fact when it may be too late but still they can share with others to help them choose wisely

Apr 14, 2019 09:44 AM #20
Rainmaker
3,028,863
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I can see why Kathy chose to highlight your post this week!  Great job!

Apr 15, 2019 06:28 AM #21
Rainmaker
1,386,590
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

These are all good points - greed can definitely get in the way of a successful sale, and some people do need to learn the hard way.

Apr 15, 2019 06:56 AM #22
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

There is no shortage of the "hard way" Kat Palmiotti ...

Apr 15, 2019 07:12 AM #23
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hi there Kristin Johnston - REALTOR® ...When Kathy Streib speaks...we listen

Apr 15, 2019 07:13 AM #24
Rainmaker
403,954
Graziella Bruner
NCS Premier Real Estate - Detroit, MI
Associate Broker - Serving Wayne & Oakland County

Thanks for sharing - "All Aboard" Get on the train! Your statement about "Why not begin on the right foot" So very true.  As my husband, the master plumber tells his clients, "I don't expect you to do my job, that's why you hired me and you don't pay me to fail" Sellers and buyers hire us for a reason, they can't do our job, they sure want to act as if they can. 

Apr 15, 2019 08:32 AM #25
Rainmaker
2,413,818
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Graziella Bruner ...my thanks to you and your hubby for sharing the right way

Apr 15, 2019 09:50 AM #26
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Richie Alan Naggar

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