Time for another **JUST THE TIP™️**
This one is for my sellers or prospective sellers. Pull them qtips out, clear out the crust, because I need them ear drums drumming!!
Selling in this market is *only* difficult if you make one MAJOR error. I’m seeing this error occur in my sellers’ thinking and in less experienced listing agents I’m attempting to negotiate with as a buyer’s agent.
Remember that Mel Gibson movie where he starts hearing women’s thoughts and it helps him be less of a douche and to eventually get the girl? That’s what YOU need to do to win a buyer that will close nowadays.
You need to know how buyers think and respond accordingly.
How Do Buyers Think?
“Damn, my monthly payment is going to be kinda high at least temporarily with these interest rates. For me to buy something really has to be worth it.”
“I keep hearing from my dum-dum friends that the market will crash soon. I don’t trust them to babysit my hamster but part of me wonders if they’re right. Should I just wait for that?”
“This house has been on the market for four score and seven years, I wonder what’s wrong with it?”
“This front yard looks busted. What else don’t these slobs take care of”
“The listing says all of this has been renovated but not by the current seller, why should I pay them a premium when they didn’t even fix up this place themselves?”
“I like this house a lot, but deep down I worry a better one is about to come on market… should I buy this one?”
“No matter what, I have to feel like I won in this deal. I’d rather rent than feel like I lost”
Sellers. Listen to me. These are absolutely thoughts my buyers express out loud to me on a regular basis. You cannot emotionally respond to them, they are simply a *data point* for you to build strategy around. What’s the strategy?
*EYES ON NET*
Price gets asses in the seat. If no one seems your house in their search and no one chooses to show it, it means it costs too much PERIOD END OF STORY (as long as it’s in the MLS, on Zillow etc). If you price correctly you draw buyers away from sellers who are peddling their warmed over crap that no one wants and you seem reasonable and approachable to buyers. This is what you need to get showings and offers – you cannot sell a house if you start your price too high. A seller that seems fair from the start has a better chance of successfully getting closed with a buyer than one who starts too high.
Once those showings begin you need your house on point. The best it can look. For god sakes LEAVE the property. No one wants a tour from the owner (you aren’t Dolly Parton and your house for damn sure ain’t Dollywood), no one wants to deal with a locked room with *do not open* on the door. Pick up the dog poop, do your dishes, flush the toilets, clear the yards. The goal is to make it seem easy for your buyer to mentally move in. Most definitely take care of anything in disrepair that’s obvious unless you don’t want top dollar. This is your first date with Miss America, probably a good plan to brush your teeth AND tongue.
I tell my sellers EYES ON NET or NOTHING BUT NET. Most people are competitive and stubborn when it comes to their homes. They get emotional about a sales price about no repairs, etc… for many I realize it’s more pride than anything. Ask yourself what do I need to net for this to work. Then ask yourself, what have *I* personally invested in this home to justify how much money I want to make… now ask yourself “am I being greedy and ridiculous.” The truth is as this market has shifted I’ve watched countless sellers pass on offers because it wasn’t *the* price and meanwhile the top offer netted them what they needed to move to their next step. TF? Don’t be this seller. If after your home has been fully marketed and your offer gets you where you need to be, maybe not your dream price, have enough sense to be grateful and move forward. Why? Because 99% of the time your next offer is lower…because well… karma she’s – ya know.
We are in a market where sellers are STILL making more money than they should on their properties AS LONG AS they are smart enough to think like buyers.
As always, I’m hear to tell you the truth about your home – data backed – and not just be a yes man to your demise.
In the meantime, stay blessed.
You should have me saved in your phone 602.696.7859