Sellers, Do You Really Think Atlanta Home Buyers are Stupid?

By
Real Estate Agent with Tim Francis Realty LLC

 

Sellers, Do You Really Think Atlanta Home Buyers are Stupid?

 

Tim Francis Realty is working with a couple buyers this January 2011.  We’ve been out showing properties to them.  Invariably, with our automated listings reports, new listings will come up in a neighborhood we’ve been watching out for.  So, we added the new listing for $449k to our showing list and showed it. 

 

Prior to showing this listing, we’ve shown two other homes in the neighborhood that were both very similar sizes &; amenities, in fabulous condition, newer appliances and priced well at $379k and $399k at this point.  Both of these homes were clean, appeared to be well maintained and showed well.  One backed up to a church parking lot and the other had a lovely big flat backyard at the $399k. 

 

We pull up to the new listing, eager to see if it’s what will meet our buyer’s needs.  First impression is the bushes are a bit overgrown and the grass has a lot of weeds in it.  We get out of the car, and start up the walk.  At this point, we see wood rot, paint chipping and just not a tidy impression. 

 

We open the door and enter.  At this point, we’ve got a poorly prepared property – furniture is mish mash or non-existent.   We enter the kitchen and it’s just dirty and disgusting.  Dishes in the sink, messy countertops, something has spilled on the white blinds like coffee and no one ever cleaned them.  We notice this, as all the blinds are closed, so we try to open to see the backyard view. 

 Now, we can see the deck with peeling paint, more wood rot and an unkempt backyard- leaves and branches down.  In the kitchen there’s a 20 year old refrigerator and very old appliances.  We look a little more and my clients at this point say, we don’t need to even go upstairs.  There is NO WAY we would consider this house over the other two in the neighborhood; this Seller is in LA LA Land.  

Most home buyers who are interested in a neighborhood or school district will check out the competition of other active homes for sale.  If you are in worse condition, with fewer amenities, why the heck do you think buyers will pay more for your property?  Hint: The answer is NOT because you want them to!

Agents, when you ask me for feedback and you are not in a logical price point for your listing in the neighborhood, be prepared for some honest and harsh information! 


Sellers Do You Really Think Atlanta Home Buyers are Stupid?

 

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Information and content on this blog is original to Michelle Francis  

Michelle Francis

Tim Francis Realty, Serving Buckhead, Atlanta & Sandy Springs GA

(404) 219-9760

Michelle@TimFrancisRealty.com

 

Want to know more about Residential Buying, Selling, Executive Home Leasing & Property Management in Buckhead, Brookhaven, Garden Hills and Sandy Springs, GA?

If so, you can find me here:

Buckhead, Atlanta, & Sandy Springs Real Estate on Linked-IN

 

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Rainmaker
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John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Michelle - I'll try to be kind and say such sellers are very ill-informed as to the current status of the market and have an agent that either doesn't understand or doesn't care.  The combination means the home will be on the market for a long time and could end in foreclosure. As you know, many sellers haven't a clue as to what is required in today's market; however, a "good" agent should be able to guide them to a sale.

January 21, 2011 08:11 PM #1
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Anna Banana Kruchten
Phoenix Property Shoppe - Phoenix, AZ
Phoenix Real Estate Agent, CRB, CRS 602-380-4886

Next......that's what we say here. Selles need to be 'parade ready' to compete with the neighborhood.  What surprises me (well not really) is why would listing agent not consult with them and show them other homes etc.  And why would one put a home on the market in such poor condition when the competition is stiff.  The buyers should move on....who wouldn't?

January 21, 2011 08:39 PM #2
Rainmaker
409,845
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

John, 

That could be the case, or the agent doesn't have the kahunas to turn them down since their price is 20+% higher than it should be?  We would have respectfully declined.

Anna, 

I do offer to take my sellers out to the other homes in the neighborhood, in case they really think they should be at a price higher, when their competition outshines them.   It won't sell for anywhere near that.

All the best, Michelle

January 21, 2011 10:33 PM #3
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Margaret Woda
Long & Foster Real Estate, Inc., Crofton, MD 21114 - Crofton, MD
Maryland Real Estate & Military Relocation

Why is it that some sellers do seem to think buyers are stupid.  Either that or they just think there's is the best on the block.

January 21, 2011 11:07 PM #4
Anonymous
Anonymous
Anonymous

Maybe they are just testing the market! Or maybe there are more memories in their home. How much do memories sell for? J

January 22, 2011 01:49 AM #5
Rainmaker
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Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Margaret

That's why I am so confused?  Do they think buyers won't notice they can get less for more?

Russel

Definitely could be testing the market.  Somehow, I don't think this one was about memories, but I appreciate that some might be.

All the best, Michelle

January 22, 2011 10:35 AM #6
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Rainmaker
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Michelle Francis

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