I just want to take this opportunity to thank all of my FACEBOOK friends for following Bricks, Mortar and Cheesesteaks. Overnight, I have had a great response, and lots of comments on the NetworkedBlogs page. Thank you all!
Over the weekend, I would like to take the opportunity to write a post on PRICING A PROPERTY. Since, the majority of my readers are other Realtors, I am putting the question to you: What do you tell a seller when you think they are being unrealistic about the price they want to put on their property?
I look forward to your responses!
And again, thank you!
Saturday, February 21, 2009
Thank You! And Pricing a Property
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Obviously, you have to be armed with the comparables. You need to be clear as to how an Appraiser will look at the property. Explain that even if you find a buyer willing to pay the sellers price, the house is unlikely to appraise at that price, and the buyer will be unable to secure financing. Then ask the seller what they would do if they were the lender faced with those facts. Then be quiet. If the seller is still bull-headed after that explanation, you are likely wasting your time in continuing to work for him/ her. Cut them loose. Life is too short to continue to try to deal with unreasonable sellers.
ReplyDelete"You are basically unrealistic in your price. its like selling a 50 cent coke on a cold day for a buck. You will get few buyers. You are hiring me to be an honest broker for you."
ReplyDeleteYou just make it as simple as possible.
Hmmm...You have to talk to them logically to help them understand the market and pricing the home by viewing the area competition. Also, if they are buying something after the sell - I would explain that they may take the loss now but will get the gain on buy end - it all evens out.
ReplyDeleteHmmm...You have to talk to them logically to help them understand the market and pricing the home by viewing the area competition. Also, if they are buying something after the sell - I would explain that they may take the loss now but will get the gain on buy end - it all evens out.
ReplyDelete