The Brutal Truth or "Doom and Gloom"?

By
Real Estate Sales Representative with Keller Williams Cornerstone Realty

I recently met with one of my currently listed sellers in an effort to get a price reduction. I went over all the market statistics and showed him charts and graphs outlining the average list to sold price, number of listings, days on market, etc.   At that point, my seller said to me "You are just doom and gloom!"  and he ended up withdrawing the listing.

I have always prided myself on giving great customer service and being up front and honest with my customers.  I believe that  my sellers deserve to know what is happening in the market so they can make informed decisions.

We, as Realtors, do not create the market, we simply intrepret it.  So, I ask you - Is telling the truth "doom and gloom"?

Love to hear your comments.

 

Susan BeVille

Keller Williams Cornerstone Realty

Ocala, FL

Susan@SusanBeVille.com

(352) 804-0297

 

Comments (11)

Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

You have to be realistic with the sellers and tell them the truth. It's reality.

Feb 10, 2009 03:02 AM
Wendy Welborne-Kimery
Keller Williams-Lake Norman Mooresville,NC - Mooresville, NC

I agree with Pat and if you don't price right you'll probably lose money promoting it.  Good luck!

Feb 10, 2009 03:12 AM
Matt Thomson
Fathom Realty Colorado - Littleton, CO
Helping you find success through real estate

It's imperative that you tell the truth in an oportunistic way.  Let me quote Gary Keller from Shift:
" There are three types of people who emerge when a market shifts.  First, those that fearfully predict the worst and are unnecessarily pessimistic; second, those who hopefully wish for the best, believe they can't fail and are unrealistically positive; and, third, those who respect the fact that they might fail, actively prepare for the worst and strive for the best." 

You need to be truthful, but present it with opportunities.  There are some HUGE upsides to this market.  Find them and present them...though in many cases (a seller who isn't planning on buying anything new) that may be easier said than done.

Feb 10, 2009 03:24 AM
Anonymous
Midge

Sometimes you have to tell people things they don't want to hear. It's the "butnotmyhouse" syndrome. Matt's post states it much better than I can.

Feb 10, 2009 03:43 AM
#4
Anonymous
david d

good job

Feb 10, 2009 04:41 AM
#5
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

It is essential to tell the truth about the market trend.    Markets are not static things; it's buyers that set them, too, not sellers or realtors.     Important, though, to state the case, without insistence.    In the end, it's the seller's home, and they make the final decision.   Realtors are really just clean and shiny pipes for market info, to both sellers and buyers.  

Feb 10, 2009 04:45 AM
Anonymous
Sanna

If they haven't figured it out yet ......then you have two choices;

1. To continue with their delusion and perhaps over more time and money, they resign to reality.

2. Withdraw from the delusionand move forward to reality with those who truly need to sell. So    many people really need our help. Structure the listing agreement  to include specific timed reductions. Its easier than going back and stirring up the hornets nest!

Sanna K Thomas PA  Keller Williams Realty Ocala Fl

Feb 10, 2009 05:56 AM
#7
Anonymous
Susan BeVille

thank you for your comments.  I absolutely agree that it is essential to tell the truth. If the seller is not going to be realistic about pricing, then it is time to move on!

Matt, I agree, there are great opportunities in this market, although not for everyone.  I am an opportunistic person.   Also quoting Gary Keller, you have to price ahead of the market and not chase the market, which is exactly what I was trying to point out to my seller.

Have a great day!

Susan BeVille

Keller Williams Cornerstone Realty, Ocala, FL

 

 

Feb 10, 2009 07:42 AM
#8
Anonymous
Johnnie and Pat Kizer

Pat and I have great respect for Susan because of her honesty and realistic outlooks about the market.  The time for us to sell will come but the whole country needs fixing because of the greed of a few so called "EXPERTS".  I was told long ago that an "ex" is a has been and a "spurt" is a drip under pressure.  Thanks Susan for your honesty and professionalism.

 

 

Feb 11, 2009 02:41 AM
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