Don’t get sloppy in the good times

Real Estate Broker/Owner with Pareto Realty TN #251071

When inventory of available houses is near ZERO . . .

Many Home Sellers get a little cocky.

Some might even have the delusional thinking that this market is like shooting fish in a barrel.

These unfortunate, misguided (or NOT guided) folks actually believe that they’ve got the Buyers by the horns and that they can throw the house on the market under-conditioned and over-priced, and SHAZAM – The Buyers will come running and participate in the ensuing Piranha frenzy resulting in multiple offers regardless of any and all defects (Obvious or latent).

Well . . . That may work for some, but not most.

Some of these houses DON’T sell quickly and end up lingering on the market thereby chasing the market DOWN (reducing the price – “New and improved pricing”) and end up selling for much less than they would have had they priced their houses competitively.

When the Buyer “WINS”, there’re often MANY condition issues discovered during the home inspection which invariably lead to cash concessions or contract termination . . . which means going back on the market “MARKED” by that label “Back on Market” which often causes many buyers not to consider because: “If it’s stale, there’s gotta be SOMETHING tragically wrong with the house.”

Listen to your Realtor and be eager to do whatever you Realtor advises you to do WITHOUT cutting any corners (Short of rehabbing the whole house.)

If the list of things to do are overwhelming and/or are not feasible given your financial situation, price the house accordingly and move on.

So . . . In ANY market – Buyer or Seller – Home sellers MUST “Pay the piper” when it comes to condition and/or price.

You are most likely choosing to move for a personal reason . . . Likely a lifestyle change. Don’t delay the turning of this important life page by getting greedy WRT condition and pricing when selling your house.

Posted byBarry OwenSeptember 21, 2020Posted inUncategorizedEditDon’t get sloppy in the good times

Published by Barry Owen 

Strategist-CEO of Pareto Realty Real estate sales Professional Inviter-Facilitator-Practicer of Open Space Technology Opening safe space for people & organizations to self-organize around issues & opportunities BarryOwen.US Invite-Listen-Love 

Posted by

Barry Owen

Principal Broker
Pareto Realty
Nashville, TN

Call me: 615-568-2123
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Simply & BOLDLY Living the FourFold Way in Open Space!

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Comments (6)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Barry - a good message.  Even in the best of real estate times, there are properties that fail to sell in a timely manner if at all.  It's always important to put your best foot forward.  

Sep 21, 2020 07:19 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Wise advice. Greed will "get ya" every time.

Sep 21, 2020 07:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good advice, Barry, for sellers not to get sloppy. Sad to say, I've seen too many agents get sloppy with their marketing because things seem to sell themselves.

Sep 21, 2020 07:53 AM
Roy Kelley
Retired - Gaithersburg, MD

This is very good advice to share with prospective home sellers.

Take care, be safe and have an outstanding month.

Sep 21, 2020 08:28 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

That's great advice for sellers who are experiencing exaggerated exuberance about the market, Barry!

Sep 21, 2020 02:05 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Barry, on having this blog FEATURED in the Old Farts Club group!  

Sep 21, 2020 02:06 PM