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
1,106,321
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

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

Aug 15, 2012 07:59 PM #1
Rainmaker
825,636
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

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

Aug 15, 2012 08:02 PM #2
Rainmaker
1,574,759
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Authentic Feng Shui Expert

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

Aug 15, 2012 08:55 PM #3
Ambassador
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John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty
The Theropist is now in:).
Aug 15, 2012 09:42 PM #4
Rainmaker
1,037,377
James Dray
Wise Custom Realty - Bentonville, AR
AR., MO., or OK. I can find the home for you.

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.

Aug 16, 2012 02:09 AM #5
Rainmaker
1,555,820
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

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

Aug 16, 2012 02:11 AM #6
Rainmaker
1,129,890
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

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

Aug 16, 2012 03:26 AM #7
Ambassador
1,533,567
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

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.

Aug 16, 2012 04:16 AM #8
Rainmaker
575,760
Valerie Zinger
House Proud Ottawa-Ontario-Canada - Ottawa, ON
Home Organizer
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.
Aug 16, 2012 05:06 AM #9
Rainmaker
1,179,857
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

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

Aug 16, 2012 05:27 AM #10
Rainmaker
825,636
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

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.

Aug 16, 2012 05:28 AM #11
Rainmaker
825,636
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

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

Aug 16, 2012 05:29 AM #12
Ambassador
1,017,325
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

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!  

Aug 16, 2012 06:13 AM #13
Rainmaker
825,636
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

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

Aug 16, 2012 06:15 AM #14
Ambassador
1,250,904
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

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.

Aug 16, 2012 07:13 AM #15
Rainer
276,890
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

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

Aug 16, 2012 08:30 AM #16
Rainmaker
486,031
Andrea Bedard
Thompson Company, REALTORS - Silver Spring, MD
M.A.; REALTOR Silver Spring, MD and beyond

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!

Aug 16, 2012 08:33 AM #17
Rainmaker
825,636
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

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-)

Aug 16, 2012 10:58 AM #18
Rainer
307,049
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

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.

Aug 16, 2012 01:52 PM #19
Rainmaker
825,636
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

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

Aug 16, 2012 02:46 PM #20
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Rainmaker
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Mike Cooper

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