October 2012

Sellers Aren't Stupid.

tutas towne realty

"Broker Bryant, How much do you think our home is worth?" "Well, Mr. Need T. Sell, I think you house is worth about $260,000. However, I'm not here to tell you what your house is worth, I'm here to tell you what it will take to get it sold. In my opinion, I think we should Range Price your property from $239,000 to $259,000 trying to sell as close to $250,000 as possible." He says in shock, "Broker Bryant, are you crazy? I just had it appraised 6 months ago and it appraised at $275,000! There is no way I am giving my house away at $250,000."

Now being the "good looking" Realtor that I am, I respond, "Mr. Need T. Sell, you have been on the market for 6 months priced at $265,000 and told me you have not had a single showing. How has that been working out for you?" He looks at me sternly and says, "Broker Bryant, the reason our house didn't sell was because our Realtor didn't do anything. We asked her to run an ad in the paper and she never did. All she did was put up a sign and put our home in the MLS. You can't sell a house like that. I don't know how they ever sell a house. All she ever did was call us every month and tell us to reduce the price. That's the only time we ever heard from her. She's the one that said she could sell our house at $265,000."

"Now, Mr. Need T. Sell, how did you come up with the $265,000 price to begin with? Did your Realtor go over an analysis with you?" He answered, "We told her that's what we wanted and she said OK. She actually tried to get us to price it at $275,000 but we knew we wouldn't get that much for it. We just need to sell."

"Well, Mr. Need T. Sell, today is your lucky day. I'm here to tell you that I will get your home sold. The only thing we need to figure out is for how much and how long it will take. Let's have a seat and I will go over some info with you and together we will try and figure this out. I know you need to sell and frankly my wife is very expensive and I need to sell your house. So we both want the same thing. So let's see what we can do to satisfy you and my wife."

"OK, so here are the details on the recent sales in your area. As you can see, most homes similar to yours are selling between $239,000 and $255,000, also you can see that here are 50 homes like yours on the market from a low price of $239,900 all the way up to $275,000. Quite the spread. Now if you look here you can see that the way your house is priced right now it shows up at number 39 on the list. That means there are 38 houses similar to yours that are priced lower. A Realtor is probably only going to show 10-20 homes to their Buyer so that means yours is not even going to get shown. Which of course you already know since you haven't had any showings in 6 months. Now, by Range Pricing your house from $239,000 to $259,000 and using the low figure as the listing price, your house will now show up number 1 on the list, also we will offer an extra .5% to the selling Realtor. By doing this your house will get shown and we can start getting offers. We should be able to negotiate a selling price in the $250,000 range, maybe a little less maybe a little more. Granted you may be leaving a little money on the table but your house will sell and you can get on with your life. In reality you are still making close to $100,000 on a house you have only owned for 3 years. What a great return. You really made an excellent investment when you bought this house."

"How come our other Realtor didn't tell us this stuff?" I respond, "I don't know, all Realtors do things differently and maybe her way works for some properties but Poinciana is my area and this is what we need to do to get your home sold. But you knew that. I'm not telling you anything you didn't already know. You watch the news and read the papers and know it's a difficult market. Sellers aren't stupid. You knew what your house would sell for long before I came over. You just needed me to reiterate what you already knew."

"Broker Bryant, I thought we were too high. I sure wish our Realtor would have been a little more forceful with us. We just want to sell and move back to Georgia." Now I close him, "Well we can't change the past. Listen, let's get you up and running right now. Sign here and here and while you are doing that I am going to take some photos and some measurements. Oh, by the way, I need a key. I will have your house on the market before end of business today. You can relax now, I will sell this house if it's the last thing I do."

"Broker Bryant, can I have some of your cards, I have a friend down the street that has also been trying to sell" "No problem, here's a stack of them for you, pass them around."

Need I say more? NEXT!


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Comment balloon 106 commentsBryant Tutas • October 30 2012 06:55AM
Sellers Aren't Stupid.
"Broker Bryant, How much do you think our home is worth? " "Well, Mr. Need T. Sell, I think you house is worth about $260, 000. However, I'm not here to tell you what your house is worth, I'm here to tell you what it will take to… more
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