Selling A Home In Sunriver – Are You Chasing The Market… Part 2
Do not get caught chasing the real estate market in Sunriver, you are wasting time and money… Part 2 Selling your home in todays real estate market can be painful
It is not easy, in fact it is one of the more difficult things to do as a Real Estate Agent in Sunriver… It takes a REALTOR with integrity, to look a Sunriver Homeowner in the eye and tell them that there home is worth far less than they think it is worth. As a matter of fact, it is downright cowardly and unethical to tell a potential client anything besides the brutal truth. Unfortunately, it happens all to often. The real estate market, the reputation of REALTORS, and Sunriver homeowners all suffer because of it. I’ve recently had two first hand experiences with this type of alarming occurrence, so I know it goes on (out of respect for the parties involved, I wont detail the examples in this post). It’s referred to within my team as “buying a listing.” Basically, a homeowner interested in selling contacts a realtor, the realtor takes a look at the home and its specifics (sqft, beds/baths etc…). After taking the appropriate factors into account, the realtor gets back to the seller with a opinion of value, and the relationship between seller and REALTOR either dissolves or grows from there. The real problem comes in when the REALTOR is afraid that there honest opinion of value, when delivered to the seller/homeowner, will cause them (The REALTOR) to lose the opportunity to list the home. In an attempt to gain the listing, the disreputable real estate agent inflates their opinion of value, the homeowner is super excited with the unrealistic high price, and the chase begins. Read why the chase is so dangerous to a homeowners objective of a timely sale for the most money, coming soon in part 3 of my three part series on the dangers of overpricing your property…
Kyle – this is a sad but truthful post. I can not tell you how many times I see an agent be honest about where the market is for a home and the seller will go with another agent because they as you put it “buy the listing.” Sad thing is if you track these listings because the seller did not listen to the honest opinion they will actually lose further ground with the market – they will not only chase the market down, but often times they will lose further value. The homes on the market that are priced right will sell, and the typical buyer will think that there is an issue with the over priced property as the price reductions come. Many times the time on the market will mean an even lower final sales price. What I find almost as frustrating is that the seller that chooses the agent that gives them the highest price, they also end up with less marketing. The glory of this as an agent is that you have integrity, you have a great marketing plan and I hope you bring the buyer at a realistic price to these properties.
Kyle – this is a sad but truthful post. I can not tell you how many times I see an agent be honest about where the market is for a home and the seller will go with another agent because they as you put it “buy the listing.” Sad thing is if you track these listings because the seller did not listen to the honest opinion they will actually lose further ground with the market – they will not only chase the market down, but often times they will lose further value. The homes on the market that are priced right will sell, and the typical buyer will think that there is an issue with the over priced property as the price reductions come. Many times the time on the market will mean an even lower final sales price. What I find almost as frustrating is that the seller that chooses the agent that gives them the highest price, they also end up with less marketing. The glory of this as an agent is that you have integrity, you have a great marketing plan and I hope you bring the buyer at a realistic price to these properties.
Kyle – this is a sad but truthful post. I can not tell you how many times I see an agent be honest about where the market is for a home and the seller will go with another agent because they as you put it “buy the listing.” Sad thing is if you track these listings because the seller did not listen to the honest opinion they will actually lose further ground with the market – they will not only chase the market down, but often times they will lose further value. The homes on the market that are priced right will sell, and the typical buyer will think that there is an issue with the over priced property as the price reductions come. Many times the time on the market will mean an even lower final sales price.
What I find almost as frustrating is that the seller that chooses the agent that gives them the highest price, they also end up with less marketing. The glory of this as an agent is that you have integrity, you have a great marketing plan and I hope you bring the buyer at a realistic price to these properties.
Kyle – this is a sad but truthful post. I can not tell you how many times I see an agent be honest about where the market is for a home and the seller will go with another agent because they as you put it “buy the listing.” Sad thing is if you track these listings because the seller did not listen to the honest opinion they will actually lose further ground with the market – they will not only chase the market down, but often times they will lose further value. The homes on the market that are priced right will sell, and the typical buyer will think that there is an issue with the over priced property as the price reductions come. Many times the time on the market will mean an even lower final sales price.
What I find almost as frustrating is that the seller that chooses the agent that gives them the highest price, they also end up with less marketing. The glory of this as an agent is that you have integrity, you have a great marketing plan and I hope you bring the buyer at a realistic price to these properties.