A seller may need a little therapy to get him to closing

By
Managing Real Estate Broker with Winchester Real Estate Sales, Cornerstone Business Group Inc 0225086119
http://actvra.in/GpQ

Some sellers need a lot of coddling when they get the bad news that their house is not worth what they think it is.  I have found that an appraisal will help some snap back into reality, but there are those who need a second Crying manopinion.  So, I typically talk them into a home inspection to confirm the value as it's affected by condition. 

If those two reports come back with disappointing news, it may be time for therapy.  A seller who has lived in a cloudy and self-induced bubble can find himself/herself in a fragile state at this point.  A visit and a little hand-holding may be warranted.  A few empathetic words would be in order, and maybe even a good stiff drink could help.  During this time, a lot of listening will be helpful, followed with a few "Uh huh, uh huh(s)" and an "I know.  It's sad. I understand(s)," and a little "We'll make this happen yet.  You watch."

Then, a realistic price and a quick contract will make the therapy complete.  A smooth contract period followed by a quick and flawless closing will help the beleaguered seller begin to feel better, and before you know it the dark circles will disappear, his mood will improve, his sense of humor will return and he'll be ready to move on to his next home purchase.  A seller may need a little therapy to get him to closing, but we're in the realty therapy business.  So, no problem.   

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Rainmaker
1,033,780
Joan Whitebook
Consumer Focused Real Estate Services
BHG The Masiello Group

Realty therapy is very time consuming and unfortunately, we don't get paid the bit bucks.

August 15, 2012 07:59 PM
Rainmaker
773,991
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

Maybe we can have a surcharge, Joan. A session charge. I'll have to figure out how to work that in.  

August 15, 2012 08:02 PM
Rainmaker
1,444,956
Laura Cerrano
Authentic Feng Shui Expert
Feng Shui Manhattan Long Island

Sometimes every job requires a bit of life coaching it seems. Great blog!

August 15, 2012 08:55 PM
Ambassador
829,425
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com
The Theropist is now in:).
August 15, 2012 09:42 PM
Rainmaker
946,743
James Dray
AR., MO., or OK. I can find the home for you.
Wise Custom Realty

Morning Mike a little hand holding is not out of the question.  I'm not saying to guide them in anyway but communication is always a good thing.

August 16, 2012 02:09 AM
Rainmaker
1,387,688
Roger D. Mucci
Lets shake things up at your home today!
Shaken...with a Twist 216.633.2092

Works both ways in my field...........sometimes I'm the one who needs therapy after being the therapist.

August 16, 2012 02:11 AM
Rainmaker
1,000,914
Conrad Allen
Webster, Ma, Realtor
Re/Max Professional Associates

Isn't that what we do for a living Mike?  We walk people across the bridge of uncertainty.

August 16, 2012 03:26 AM
Ambassador
1,439,929
Liz and Bill Spear
RE/MAX Elite Warren County OH (Cincinnati/Dayton)
RE/MAX Elite 513.265.3004 www.LizTour.com

Mike, We've had sellers call and say "talk me off the ledge".  Not on a real ledge of course, but the stress of the transactions can overwhelm.  Part of our role is calming those concerns and keeping them educated on the process.

August 16, 2012 04:16 AM
Rainmaker
574,918
Valerie Zinger
Home Organizer
House Proud Ottawa-Ontario-Canada
Mike. I never thought to bring in a home inspector but now I see the value of the report. Homes that need a lot of work also have owners who may need a 'lot of work'. Good post.
August 16, 2012 05:06 AM
Rainmaker
1,005,086
Sheila Anderson
The Real Estate Whisperer Who Listens 732-715-1133
Referral Group Incorporated

Good morning Mike. This is a terrific strategy to put things into perspective. Nicely done. my therapeutic friend.

August 16, 2012 05:27 AM
Rainmaker
773,991
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

Absolutely, Laura.  It seems like every deal needs a little.

I can Lucy with her booth and Realtor's license.  8-)

Well said, James.

And an adult beverage, Roger.

That's a great line, Conrad.

I had one in my office last night that was talking about how stressful it was to buy a house.  That was the first time we met.  They haven't even looked yet.  8-)  Thanks for the heads up.

It has worked pretty well for me, Valerie.

August 16, 2012 05:28 AM
Rainmaker
773,991
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

I just did it a client who was convinced his price was right.  The appraisal made him question.  The home inspector got his attention.  

August 16, 2012 05:29 AM
Ambassador
924,826
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley.
Century 21 Bradley (260)704-0843

This is one of the hardest parts of our jobs.  Delivering the bad news and having to manage seller's expectations and emotions.  Great post!  

August 16, 2012 06:13 AM
Rainmaker
773,991
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

It sure can be, CT.  I never like to deliver bad news, but unfortunately, it happens.  Have a great Thursday.

August 16, 2012 06:15 AM
Ambassador
1,112,972
Dick Greenberg
Northern Colorado Residential Real Estate
New Paradigm Partners LLC

Hi Mike - You're right - therapy is just one of the many skills we need to do our jobs well. And you're also right that the key element in therapy is listening. Nice post.

August 16, 2012 07:13 AM
Rainer
276,790
Kathryn Maguire
Serving Chesapeake, Norfolk, VA Beach
GreatNorfolkHomes.com (757) 560-0881

My broker is fond of saying people don't care what you know until they know that you care.  Hand holding and empathy helps!

August 16, 2012 08:30 AM
Rainmaker
450,277
Andrea Bedard
M.A.; REALTOR Silver Spring, MD and beyond
Thompson Company Realtors

Hi Mike, I've long believed that Realtors should ideally be required to take some psych classes, too! It takes good listening skills and the ability to look beyond the facade - literally - to make things happen. 

Having to deliver bad news is def. my least favorite part of this business.

P.S. All is wonderful and we are having a blast!

August 16, 2012 08:33 AM
Rainmaker
773,991
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

And we thought we were the only ones who need therapy, Dick.  8-)

Yes it does, Kathryn.  If that doesn't work, a shovel handle is helpful. 

That might a great seminar session, Andrea.  We'll sign you up for the Reboot in Bethesda this September.  8-)

August 16, 2012 10:58 AM
Rainer
307,045
Jennifer Chiongbian
Real Estate Broker - NYC
Specializing in all types of Manhattan apts & townhouses

We are 24 hour firemen.  It gets hard to manage this to closing when one party decides to be unrepresented and hid behind their attorney.

August 16, 2012 01:52 PM
Rainmaker
773,991
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

We're fortunate that we don't have to deal with that down here.  Yea!

August 16, 2012 02:46 PM
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Rainmaker
773,991

Mike Cooper

Your Winchester, VA Real Estate Pro
Winchester has a place for you! Call me.
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