Monday, April 23, 2007

REALTOR® Says "No Thank You" to Listing Home Above Value

Don't be surprised if you want a REALTOR® to list your home and they say "No Thank You." It could happen to you if you fall into the following senerio.

Last week I went on a listing appointment. Before I go on an appointment I spend a lot of time getting my presentation packet all in order and I also spend a lot of time studying the comps (comparable: what other homes in the neighborhood have sold for) for the area.

I entered this home as I always do with an open mind and the ability to visually remove the contents.
This home was totally outdated (carpet, bathrooms, kitchen), it had rotten windows, it was cluttered and messy and bottom line the sellers wanted me to list it for 20K more than the highest comp.
The sellers were wanting to build a new home and the husband wasn't up for making any repairs. They had no cash for a downpayment and wanted to get their down payment out of this poor house that they already had mortgaged to the hilt.
In this tight market, your realtor has to price your home accordingly and still expect (in the mid-west) for someone to come in and offer you 5K immediately off the asking price.
Sellers need to be able to do some work or be willing to have it done, or not expect top dollar for your home.
A simple comparison would be (although I'm not fond of car salesmen) trading in a vehicle for a new shiny one.
Would you take a filthy car and expect top dollar as a trade-in if you had Micky D's fries in the cracks of the seats and popcorm remnants on the floor from the drive-in the night before?
Another thought: When you go to an outlet that carries scratch and dent products - you pay scratch and dent prices.
Buyers thing the same way about houses. Sure every home has some issues - but if it presents itself product, expect scratch and dent prices.
Even the best REALTOR® in town cannot perform miracles (although I like to think I can)... at some point they have to step back and say "no thank you." And that's a really difficult thing to do.
If you need assistance in the Kansas City Real Estate market...... give me a call 816-682-3897

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