Article Contributed on: 10/22/2006 10:41:53 PM
Ok this is my first blog post - probably not a good thing to do when you have had a hard day and are sick of talking to people - but what the hey nobody will read this and the best thing that can come out of this is that my website gets more links (which is the key to getting a higher search engine placement).
Here goes:
I have been a Realtor for 15 years - I have seen crazy markets and our current very stagnent market, basically I have seen it all - or so I thought!
Lately I have been turning down business - thats right TURNING DOWN business. The latest was a gentleman that loved my website and begged me to come over right away and talk about selling his mother's home. Usually I will have my assistant pull all of the information, prepare the CMA and draw up the listing contracts (about an hours worth of work) but my assistant was off and he begged me to come over right away - so what the heck I talk to him on the phone, did the work myself and get as much information that I can. Turns out it has been listed over 1 year and he got sick of the Realtor who helped him so he has been trying to sell it on his own for 6 months.
Ok, I see this all of the time and proceed to spend a 1/2 hour with him on the phone getting all of the info. Well he had it listed for $325K, I looked at the comps and $310K to $315K is the price range, so I agree to meet him at his mothers home.
I go over there, look the home over and find out the remodeled kitchenconsisted of buying new appliances that maybe cost a total of $2,500 and replacing the countertop another $750. He insists on pricing it at $350K! $350K! Did I miss something? $350K!
He has notsold it @ $325K, but put in maybe $3,500 worth of remodel and he wants to get $350K? This guy is way off base - everything else comps out @ $310K to $315K. Has this guy been in a hole for the last 2 years?
So I proceed to tell him that there is no way he is going to get that and there is no way I am going to list it for that much. Now on the phone he seemed like an intelligent and normal guy - but in person his demeanor completely changed - he was now MR hyde.
So I go over the comps and show him everything - guess what his answer was? "We need to get this price ($350K) so my poor mother does not loose money on this home and is not out on the streets!"
First of all nobody and I mean nobody is going to pay that price, even if he could find someone that stupid they would have to pay in cash becausean appraiser would not over value it 10% in this market.
Secondly, I learned that people like this are totally unrealistic - they are the type of people that believe thier own lies - there is no talking sense to these people or reasoning with them, the best thing to do is just leave as quickly as you can.
So I politely say that I am going to have to pass (I get up from the table) and I wish him luck selling it on his own -as soon as I said that hestarted to raise his voice and and proceed to expalin to me that "he was going to sell it at that price and it was a bargain". OK fine,I just don't want to waste one more minute of my life on this guy. Istart walking to the front door and he is trying to get into an argument about his home and how he has to sell it for that price.
I am still walking and saying things like " I hope you get it" and "good luck" as nice and sincere as I can. He basically starts to get very upset that i don't agree and tries to get in a pissing match. Unfazed I continue to walk out mubling to myself that I wasted over 2 hours of my life trying to help this guy out.
So here is the funny part - part of my research invovles seeing how much the homeowner owes on the home - (it usually saves me from situations like this) it turns out there is only $90K loan on the home!!
Can you believe it! What a liar and a jerk! And it cost me 2 hours of my life!
So hear s something even funnier - I still love the business.
Tony
www.hqhomes.com