Hey FSBO...That Don't Impress Me Much

By
Real Estate Agent with Pavao Real Estate

Sometimes we just need to walk away from a potential client, in this market where pricing and position is key to obtaining the desired results.

I recently, had a referral given to me by a friend of a friend this referral was a "FSBO". I was warned before meeting this potential client that "this guy is tuff", no problem I told my friend. Those are the ones I find most challenging!

Meeting Mr. FSBO and Mrs. FSBO was a pleasure, a beautiful couple with a beautiful home in Bristol County. Now they have a lot of pride in what they have built, as they should they did a fantastic job! They were just as enthusiastic about me coming out to list their home, as I was about discussing the marketing plan that I had put together for them.

They wanted me to list their  Bristol County home, they knew I was the one who could sell their beautiful home. Then whats the problem you might ask...? They want too much money and they know it! Not only do they want to much money but they want me to invest in the top marketing magazines to get them the exposure they deserve.

After explaining to Mr. and Mrs. FSBO, why I wouldn't list their beautiful Bristol County home at their price and at my expense. They insisted that that fact that they built their home with extra features that I should be able to showcase to attract a potential buyer, such as:

  • crystal door knobs
  • brass plated hardware on the cabinetry
  • water fountain built into fireplace

These are beautiful features, but I can assure you they will not convince a buyer to pay an extra 100,000 for your home. The house next door sold for much less and is a very good comparable property to yours, it just won't work at your price.

Mr. and Mrs. FSBO understand my position and decide they can't afford to sell at my suggested price. They will continue to do it on their own, I wished them the best of luck!

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Tags:
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Ambassador
895,607
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Suzanne, Good you walked away, but I bet they call you back at some point so let us know.
Sep 18, 2007 05:37 AM #96
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

John,

Great points, trust me when I say I tried everything. I agree taking the emotions out of the transaction can make the end result look sweeter...but some are just focused on what they "need" to get versus what the reality of the market really is. Thanks for your comment. :)

Lanre,

Awww...thanks you made me blush! I always follow my heart...:)

Ki,

Thanks, agree! :)

Hi Bob,

Thanks, you got that right!

Hi Missy,

Thanks, you got it! :)

 

Sep 18, 2007 08:04 AM #97
Rainer
28,843
Martinelli Caputi
Martinelli Caputi & Associates, Ltd. - Warwick, RI
& Associates, Ltd.
The smart ones will be back.  The not-so-lucky will be on the market until they change their tune.  :)  Keep that head up and move on.  :)  Great post Suzanne!
Sep 18, 2007 12:51 PM #98
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Richard,

I agree, maybe when reality sets in. Thanks :)

Sep 18, 2007 02:48 PM #99
Rainer
10,487
Bruce Ching
Brio Realty - Woodinville, WA
Suzanne- Nice Feature.  It looks like the sellers are still so "yesterday".  LOL
Sep 18, 2007 04:07 PM #100
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Bruce,

Thanks for stopping by, you are right that is so 'yesterday" LOL! :)

Sep 18, 2007 04:48 PM #101
Rainmaker
325,145
Esko Kiuru
Bethesda, MD

Suzanne,

Some homeowners love putting in all sorts of expensive decor items for their own pleasure and many times they improve the looks of the house. However, brass hardware and crystal door knobs don't add to the value anything, contrary to what the owners believe. And it's hard to get them to understand that.

Sep 18, 2007 07:27 PM #102
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Esko,

I agree, they need to remove the emotional attachment to these items to compete in the market. Thanks for commenting :)

 

Sep 18, 2007 08:53 PM #103
Anonymous
Anonymous
Rick Goates

Is it just say "NO" or just say "Go"? In THIS market you have to let them go...there are some serious sellers out there and then there are the one's like the above...It reminds me of a story years ago when I first got into real estate. There was this nice older man probably about 85 that had a FSBO sign out in his front yard in
Gold Hills. Gold Hills is pretty nice and the market was just starting to go crazy. He must have had about 25 Realtors either call him or go to his home (that's what he wanted). He was pretty cool about the whole thing...after giving him about an hour of my time and presentation he replied..." Son it's been nice talking with you! I get lonely and I love talking real estate so you see since my wife passed away I put that there sign in the yard and so far it's worked wonders! I haven't been lonely now for quite a while!! And oh by the way I have no intention of selling..."

 

Wow talk about knock the wind out of your sails.....Who was working who here?

 

Made me go and visit my grandmother....that's for sure!!  

Sep 18, 2007 11:51 PM #104
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Rick,

I loved that you shared this story! This would be a good one to blog about don't ya think...How about "The lonely FSBO" Thanks so much for stopping by! :)

Sep 19, 2007 08:17 AM #105
Rainmaker
153,515
Nancy Moeller
Seven Gables Real Estate - Anaheim Hills, CA

Great post. Sometimes we forget that we're interviewing each other. We have to make the best business decisions and sometimes that means saying "no"

Sep 19, 2007 03:36 PM #106
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Nancy,

So true now nore than ever! Thanks :)

Sep 19, 2007 03:49 PM #107
Rainer
29,796
Ronnie Bredahl
Austin Referral Realty - Austin, TX

I just wrote a blog about an overpriced listing yesterday.  Good for you, just walk away!

Sounds like you left on a positive note. They'll be calling you in a month or two!

 Good luck to you!

Sep 20, 2007 03:06 PM #108
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Ronnie,

Thanks for stopping by, I will be over to check your out! Always leave on a positive. :)

Sep 20, 2007 07:48 PM #109
Rainer
254,861
Cindy Lin
Staged4more Home Staging & Redesigns // EcoJoe - South San Francisco, CA

You handled it incredibly well and with grace. It's really not worth it to list a home knowing that it's a lose-lose situation.

Cheers,

Cindy 

Sep 25, 2007 12:08 AM #110
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Cindy,

Thanks for your comment and compliment! Have a great day! :)

Sep 25, 2007 08:41 AM #111
Rainmaker
592,543
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate
You did the right thing. Just walk away or you'll go broke trying to meet the needs of someone who won't listen to the facts. The market is in decline. How much more money are these sellers going to lose, off the value of their home, because they wouldn't price it right to begin with. In the long run, they'll lose more money when they finally face the facts.
Oct 02, 2007 02:12 AM #112
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Lisa,

Absolutely! I have seen many lose money, time and in the end they usually realize they should have listened to the agent that was honest with them from the start, its always bitter sweet. Thanks for commenting. :)

Oct 02, 2007 08:05 AM #113
Rainmaker
332,908
Thesa Chambers
Alpine Real Estate - Bend, OR
Principal Broker - Licensed in Oregon
I had not seen this the first time around - nice job - and right on target
Oct 21, 2007 10:01 PM #114
Rainmaker
162,416
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate
Thanks Thesa!
Oct 22, 2007 09:11 AM #115
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Rainmaker
162,416

Suzanne Sands

Somerset MA Real Estate
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