Over 800 people read my blog today - THANK YOU...AND thank you for your service, veterans!
Today's topic "Do you Want to List your Home, or do you Want to Sell it?" Last week, I put a fix-it-upper home on the market and today we are under contract! The Seller listened when I explained that overpricing a home does not work.
Realtors spend DAYS doing the paperwork for new listings, and hundreds of dollars on photography and marketing. We take time away from our friends and family holding open houses, and many times put the homes on Realtor tours during the week-- we even feed other Realtors lunch to get them to come. On Sunday mornings, I am known to shamelessly get up and leave church at 11:15 to get set up for my Open House at 1:00. Forget coffee hour or hugging friends, I must get to work!
On the other hand, here's the Seller who keeps the home ready to show day after day, week after week, month after month. He and/or she leaves for showings, gets their hopes up, and then receives feedback: Overpriced! Not interested! Ouch!!
During listing appointments, Realtors explain to Sellers that they will get the most showings the first two weeks and if it's overpriced, Buyers just walk away. Today, consumers are savvy, and no one wants to overpay. As a new Realtor, I was trained to walk away from Sellers who insist on overpricing their homes, but somewhere along the way, I guess I’ve turned into a softie; however, having a listing expire because it is overpriced is painful and the Seller then blames their own Realtor when they would not listen. Is overpricing really "malicious compliance?"
I went out of town a couple of weeks ago, and a Team Dunn team mate worked for days trying to negotiate a deal for me. This was a case where I knowingly listed a property above the market price because the Sellers had some nice updates and they INSISTED on their own price... they wanted to net a certain amount, so I thought, "OK, we will test the market." I should have taken the listing with the agreement that they would reduce the price in 30 days if we did not have any offers. After 34 showings, this list price needs to come down, for crying out loud!
Problem is that new construction has killed resales in some areas, and comparable homes are selling for $30,000 less this year than last in this subdivision.
Did you know that overpricing a home is a violation of the Realtor Code of Ethics?
So, if you are in the market to buy or sell a home find yourself a good, honest Realtor and LISTEN to them.
Two Buyers for new homes have recently come to me for assistance before they were under contract, and I have worked very hard for them. The developer pays my commission, so why not have your own advocate...and these Buyers LISTENED to my advice!
If you need help finding a good Realtor, call me! My company is affiliated with the BEST real estate professionals globally.
Price reduction, HARBOR TOWERS, Siesta Key, 5855 Midnight Pass Road, Unit 217, Sarasota, FL 34242. 2 BR 2 BA with intercoastal view, SELLER LISTENED - price reduced to $380,000, and that is below market! Boat slips available first come first serve. No deeded beach access but great amenities just a couple of blocks from the public Siesta Key beach. Can generate approx. $25k in rental income if aggressively marketed off season.
I have turned in my manuscript for my book, Motion to Intervene, and the publisher says that it needs to be expanded by at least 10,000 words. Their editorial staff said that the foundation is good, but it's mostly information. In other words, it’s boring. I threw in as much information as practical on what could have possibly led me to invest in two new ski shacks over 2,000 miles away in my home state--shortly after the death of my father--and changed the setting to Jackson Hole, WY for legal reasons. But there's a lot of legal stuff that I happen to find interesting but maybe that's just me. I traveled to Jackson Hole in September with a good friend--who is actually my attorney in the book--and we discovered wonderful restaurants - what a great ski destination and Yellowstone is just up the road. My book has some funny parts about life in Wyoming during the 1930's - days of prohibition and prostitution--but still not interesting according to the editors. Hopefully, they can make it a fun novel that is actually intended to be a Buyer Beware book - and a warning to Realtors of what can happen when they don't know their jobs and are not looking out for the consumer. It wraps up with a jury trial, and of course I win the case! It's my book!
My wonderful friend, Linda L., did the first editing, and I really love her format! Look for it to be available on Amazon and in Barnes and Noble by next summer. Thinking about changing the name to "The Ski Shack." Google "Featherlegs, Lusk WY" if you want a chuckle. She's in my book, God rest her soul, a lady born before her time!
Enjoy your fall and check out my home page. www.LindaHrealtor.com and other blogs www.LindaHrealtor.com/blog.
Most sincerely yours,
Linda Holley, Realtor, GRI, Team Dunn, 941-914-4914 Siesta Key, FL
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