You’re Losing Control

In writing today’s blog, I initially intended to include more suggestions on where to focus your business in 2012.  Instead, I am going to invoke poetic license and take a detour. 

Controlling the Market:

I was just discussing this with a colleague today.  Even with the tumultousness of the real estate market over the past few years, many home sellers and realtors continue to believe that they are in total control of the home selling process.  Nothing could be further from the truth.  They make decisions about timing, pricing, staging and accessibilty based entirely on their needs – the  market be damned. 

A Market is a Market

Somehow, in their minds, the real estate market is different than any other market and they forget what has been universally true in the history of the world.  Value is determined by the buyer.  A product will sell for what a buyer is willing to pay for it.

Shame on Us

It’s unfortunate that, even seasoned agents, contribute to this fallacy.  In fact they are particularly culpable, considering that homeowners tend to place a higher value on their opinion due to their experience and perceived success.  Shame on those who perpetuate this falsehood.  Many times this happens because it’s easier to take the path of least resistance and tell the homeowners what they want to hear.

A Double Paradox

There is a double paradox here.  Firstly, the things that we think put us in control are exactly the things that foster a loss of control.  Additionally, a buyer who can’t purchase a more expensive home until their own home sells, actually contributes to the log- jam.  Their inability to sell impedes them from buying, thus prohibiting the seller of  the home that they want from purchasing also.

The Solution

The best opportunity to manage the home selling process as seamlessly as possible lies in the advice of the seller’s realtor.  The realtor needs to guide the homeowner when it comes to:

TIMING –  The most astute realtor knows that the best experience is had when the home is physically ready and the homeowner is emotionally ready.

ACCESSIBILITY –  Why is it that the buyer who can’t see your listing on any given day so often seems to be the buyer who purchases another home that very day?

STAGING – Rule of thumb.  If a house is going on the market, then it needs to be staged.

PRICE – The way in which to procure the highest price is to price the home at the number that the comparables suggest it will sell at.

OK.  Now that you’ve taken back a modicum of control, who knows – you may even bring your homeowner multiple offers!

What say you?  Please leave your comments below.

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