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If you’re not honest with that homeowner,
later on somebody else will be. That’s
why I say to sellers complaining about the information I’ve presented: “If I
don’t give you the real facts and figures, someone else will, and I’ll have
failed to act responsibly toward you. The
asking price is your decision, but a selling price takes three: you, a buyer and
a lending committee.” If they still want to go with a high price,
say to them, “Okay, I’ll go along with this price, and farm here on out,
I’m behind you 100 percent. But
do two things for me: First, give me the chance to come
back in two weeks to re-evaluate the price, based on public reaction. Second, be aware that I’m not
taking responsibility for this price. You
set the price on this home, not me.” If you don’t make that clear up front,
they’ll say later, “Well, you told us we could get $255,000, for our
house.” But you never said that.
To ward off this evil, during the listing interview write on the
seller’s net sheet how the price was arrived at.
Jot down something like, “Mr. and Mrs. Seller feel their house is worth
$255,000, but my analysis indicates, and I recommended to them a price of
$239,000 to sell in this market”. Make
a copy for your file, initial the note, and give it to the sellers. Then, if your sellers seek to blame the non-sale of their home on you later, tactfully remind them of the recommendation you made when taking their listing. Never do this angrily. Mention your recommendation and sympathize with their need and desire to take all the money they can out of their house. But stand clear---keep yourself separated from the market. “It’s the market. The market simply won’t put that number on your house today. It’s the old law of supply and demand.” |
