We Don't Dictate the Market, the Market Dictates Us

By
Real Estate Broker with M & M Realty of Brevard Inc. BK629999

We Don't Dictate the Market, the Market Dictates Us by Sandy ShoresOn my next listing appointment I'm going to wear a suit of armor!

A couple of days ago I went to meet with a seller about marketing her home for sale.  She had a beautiful 3 bedroom, 2 bath, well appointed home in a desirable neighborhood.

I always like to take a little time to get to know the owners.  And, I ask them to take me through the house and tell me as much as they can about it.  This way I can get a feel for the property.

The owner seemed a bit hurried, as she showed me the top of the line amenities she had added to her lovely home.

We sat down to discuss my marketing plan, to sell her property, when she chimed in with, "Well, how much? How much can I get for my house?"

I pushed the marketing materials aside and picked up the market analysis I had performed on the property.  In today's market, realistically the home was worth approximately $189,000. 

When I gave her that figure, I was about to duck, because she looked like she was going to pick up a book and throw it at me!

'Back in 2005, I had a neighbor down the street offer me $350,000 for this house!' she boomed.  'You can't tell me that it's only worth $189,000, today!'

Unfortunately, I don't create the market, I can only interpret it.

 

Sandy Shores REALTOR®, Melbourne/Palm Bay FL Real Estate

Brevard County, Florida's Space Coast Real Estate & Investing

I specialize in Residential, Investment & Relocations. 

We have a team of professionals that can help  with your Short Sale.

I buy, sell, rent, own and manage Investment Property

 

 

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Sandy Shores, Broker   

M & M Realty of Brevard, Inc. 

Residential, New Construction, Relocations & Investment

Brevard County FL Real Estate 17 Years

Brevard County FL Resident 38 Years 

Melbourne FL Real Estate / Brevard County FL Real Estate

Serving Melbourne, Palm Bay, Suntree, Viera, Rockledge, Cocoa, Canaveral Groves, Merritt Island, Mims, Cape Canaveral, Cocoa Beach, Satellite Beach, Indian Harbour Beach, Indialantic & Melbourne Beach

___________________________________

We have a team of professionals to facilitate your Short Sale.

I buy, sell, rent, own and manage Investment Property.

321-253-4545 or 321-254-2964

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Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Carol Kilburn Paul Tully 02/25/2010 02:00 PM
  2. Ann Hayden 03/01/2010 10:07 PM
  3. Felix Hung 03/01/2010 10:56 PM
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Topic:
Home Selling
Location:
Florida Brevard County
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Tags:
we dont dictate the market the market dictates us
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Rainmaker
599,425
Sandy Shores Broker, Melbourne FL
Brevard County FL Real Estate
M & M Realty of Brevard Inc.

Hi John, I think that sometimes it takes awhile for an owner to really understand the reality of the situation. 

Irene, So true, the truth is so important in our industry. We're just shooting ourselves in the foot by not telling the truth.  They have to know what to expect when their house goes on the market.

Mary, I agree, it is tough for these sellers.  I read an article a couple of years ago that for more than 50% of homeowners the bulk of their wealth was in their homestead.  Now, that's a really scary thought.

Gabe, I agree, most Realtors have been in the very same situation, numerous times. It's a hard pill to swallow.  She needed some time to digest things, as I could tell she had begun to shut me out. But, I am meeting with her again on Monday.

Caren, Oh so true. Owners taxes, nor insurance are going down like their property values are. Great point. So that really makes it a tough situation.

Myrl, If we did make the news, we would try to make it good news for these sellers, wouldn't we?

February 27, 2010 03:34 PM
Ambassador
1,192,726
Silvia Dukes PA, REALTOR
Florida Waterfront and Country Club Living
Tropic Shores Realty - Ich spreche Deutsch!

Sandy, its the bitter truth that sellers are facing.  I usually point out that it's also an opportunity for picking up something elsewhere for much less than they would have paid for a few years back. 

March 01, 2010 07:33 AM
Rainmaker
691,088
Ann Hayden
SelectAnn.com
Prudential Select Properties-St. Louis Missouri

Sandy,

I know just what you went through.  Why do they think we make the market? 

Ann Hayden in Wildwood, MO

March 01, 2010 09:00 AM
Rainmaker
599,425
Sandy Shores Broker, Melbourne FL
Brevard County FL Real Estate
M & M Realty of Brevard Inc.

Silvia, It is a bitter pill for many to try and swallow.  That's true. Sell low, buy low.  You can win on one end, can't you?

Ann, I think it's tough news for a seller to handle. don't you?  I think we just happen to be in front of them, passing along news they don't want to hear. 

March 04, 2010 11:36 AM
Rainmaker
691,088
Ann Hayden
SelectAnn.com
Prudential Select Properties-St. Louis Missouri

Sandy,

Yes, I think you are right.  They want us to tell them their house is worth the same as 3 to 5 years ago....

Ann Hayden in Wildwood, MO

March 04, 2010 01:52 PM
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Brevard County FL Real Estate
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Melbourne FL Real Estate and Brevard County FL Real Estate - Residential, New Construction, Relocations and Investment. _________________ Sandy Shores on Zillow Sandy Shores…