Tough Love

In this market I am often called upon to deliver sobering news. It's not so much that values went down as much as it is that they are simply lower than many sellers think they are. We have not seen the double digit growth of years past and selling a home only 3 or 4 years after you buy it, may not be a winning proposition. Your home served you as such, provided tax benefits, and not unlike shelter is a necessity of life.

When someone decides to sell their home, they more than likely interview a Realtor or two. Who gets the deal and why is a bit of a mystery and probably varies from client to client. If there was a single thing, and I knew what it was, you can bet I would do that thing, unless that thing was tell them what they want to hear. I have been criticized and complimented (at about a 1:1 ratio) for my no nonsense approach to things. It probably earns me as much business as it costs me.

I viewed a potential listing yesterday and struggled with what to report back to the client. Their home is a fine home, but they moved away a few years ago. It has been rented out. Even good tenants are hard on a home. The owners more than likely have fond memories of the home and have long forgotten oddities and things in need of repair. So I reminded them in verse and photo montage. My suggested price also reflects the needs of the home. It is far more than they paid, but perhaps less than they had hoped, or others have told them? Only time will tell.

So just how good are you?

I was asked by a potential client, "How many transactions did you close last year?" Now in real estate circles, we talk sides. You can get "both sides" (list and sell) of a transaction if you are lucky. I answered the question honestly but thought it was a little off-putting. Is there a number below which I will not be suitable for you, or a number too high suggesting I will slam you into the first home we see? Is my answer the right answer? I have no idea what the average is. There are a few agents I keep an eye on, but I keep an eye on them because they are good. I do not sell as many homes as them, I only had 16 sides last year, not 24, 37, or 85.

Instead of wondering how I fit in, I turned to the internets. I asked this series of tubes how many sides an average agent has in a year. (I imagine this is also where the potential client got his questions.) The first two numbers to come up (one is the average in Iowa, the other nationally) 5.4 and between 4-8. They seemed to groove so I will accept them as gospel and move forward comfortably knowing I am above average. Here is the real deal though, the reason you should work with me is not becasue I sold double, almost triple the national average last year, but because I am not satisfied with that number. I am striving to do more, and for that, I need to impress the heck out of you and everyone I work with.

Good things come..

It seems like an admirable sentiment. Patience is after all a virtue. So what then of the fellow I spoke with today, the one that countered an offer and lost a buyer. This was not a client of mine but someone I met when I showed their home to a buyer. They are using a discount broker, MLS with no agent really. He asked what was happening in his area and price range and as a courtesy I did some research.
Would his reply to the only offer he has seen on his house in 6 months been different if he knew only 2 homes even close to his sold in that time and there were 22 others to choose from? My guess is yes. So will something good come to this fellow who may have inadvertently decided to wait? I hope so, but by the time it happens it might seem less.

Trust

I often suggest when meeting a potential client that we sit down and first see if we think we will work well together. At the last such meeting, Julie asked if I had ever had a meeting end in a parting of ways. I had to reply no. I attribute that not to a grand ability on my part to "play well with others" but to the way I meet most new clients. They after all are generally friends of friends and former clients. We are meeting because someone thought we would work well together. Is liking your agent the most important thing? No. Trusting your agent is the most important thing. Without that there will most likely be trouble.

I recently lost a potential listing to someone not more likeable, in fact you might argue the opposite, but they had the clients blind trust. While I understand, I am having trouble being understanding. I think there has to be both a healthy relationship and trust. No agent possesses a magic spell or tool that makes them superior. It is experience, an understanding of the market, team work (there is where the relationship part comes in), and determination that sells a house. I have those things. If we have a good relationship and trust one another, we'll get the job done. Not only will we get the job done but afterward there will be no regrets, no could have, should have or would haves.