J

All great answers here. I like Andy's Oct. 2 answer the best in that it takes far more preparation and an eye for detail before putting a home on the open market. Showing a home with bad carpet for instance will lead buyers into thinking about what else needs to be fixed or repaired. Although the carpet may be the worst thing about a home, I've experienced buyers going into detective mode by openning up every cabinet in a home, going through refrigerators, turning on ovens, microwaves, disposals and dishwashers similar to a home inspector. In this example, most buyers will want to look at move-in-ready homes and will amazingly pay a few more dollars to have it. Today's market is very different with a new generation of buyers.

To compete in today's market and get a home sold quickly, seller's will need a strong and steadfast agent who understands that unless the seller is in agreement to what changes need to be made to a home before putting it on the market which includes pricing, the home may be looked over by buyers and stay on the market for months, and with massive price reductions. Preparing the home and correctly pricing the home right the first time around takes a lot of work and effort between the agent and seller resulting in good offers. The act of offering credits to buyers to correct existing problems with a home are slowly being replaced with homes that are move-in ready and present little hassle to buyers.

I continue to sell my listing in under 60 days, however, I do not take all listings offered to me. If the seller does not fully understand the challenges of the market after consultation and what needs to be done to get the home sold than I am wasting my time and seller's time. I am being hired to sell the home within minimum time for my client, and to do this requires both parties me and the seller to be in agreement to the terms.

We've all got different ways of handling similar situations in the housing market and what works for one person may not work for another. You can't force a square peg in a round hole and expect outstanding results. Simply, educating sellers with the current market trends is easy. The tough part is when confronted with sellers who are in denial about the facts and continue to go against the grain is where problems arise when trying to sell a home.

Another question would be, "Are sellers truly competing in the current market or relying on luck to get their homes sold"? - Sat Oct 4 2008, 09:18

I am sorry that you are in this situation. In my opinion, it's very important that your home is marketed through MLS, various websites and printed materials. Reaching the majority buyer market includes printed marketing materials. This would include hand-outs to other real estate companies, neighborhoods, and postings at various businesses. Fortunately, I have sold my listings in under 60 days using this approach. Getting listings sold within a minimum time in today's market requires a lot of hard work by an agent.

Keith has pointed out some very important Q&A between you and your agent. Before I consider a listing and assist the seller with deciding should the home be put on the current market right now or not, we go over many real factors as it relates to the seller's home and the current market. Through consultation, unfortunately, there are sellers out there who are not prepared financially to put their homes on the market.

The reality is if the home to be listed is priced correctly, marketed both through MLS/website and printed materials, and prepared for showing both inside and out then it will sell quickly. With all these things in balance, I have never witnessed a house staying on the market for more than 60 days. Most savvy buyers are working with a Realtor who is educating them frequently. Most if not all Realtors will insure their buyer gets the best deal in a home and most are experts in the negotiation process. It may very advantagous to be professionally represented by a good Realtor whether you are buying or selling.

I wish you luck and would advise that you have a long chat with your Realtor. He is working for you not the other way around. - Wed Sep 24 2008, 18:31

I have enjoyed reading the many answers posted here and have learned along the way. I would like to say, however, that I would never cut my full professional real estate services because of a 1% cut in a commission, nor would I show a potential client the door and send them on their way because another company is offering a better deal. To add to this, I would never undercut or devalue another company's services to make myself look better to gain a potential client's business.

I really liked Michael's answer and the way he conveys a visual of how commissions work. He isn't down-playing and putting down other companies or poor mouthing, but he is taking a road less traveled and offering a fun and logical response to a very good quesiton.

Two thumbs up!!! - Mon Aug 11 2008, 16:20

Hi Janine,

I have read many posts from real estate agents who have been confronted with similar situations. Commissions seem to be an area where no solid answers are offered to potential seller clients. Most folks in the workforce go daily to an office or company where they are paid weekly or monthly with company health benefits, profit sharing, matched 401Ks, bonuses, raises and other benefits which may contribute to fairly nice incomes. If an individual were to run the numbers which include their salary, paid vacation, sick leave, and all that is mentioned above provided by their companies, most would far exceed the income being made by majorty real estate profesionals today. Majority agents are not paid 100% of their commissions as this is split with the companies they work with.

Many sellers are not aware of how commissions are split and split again, and what it is to be an independent real estate professional. Simply, when I'm confronted with a seller whom question commissions, I take 60 seconds and explain honestly the realty of where the money goes.

One way you may feel more comfortable in answering the commission questions is to first ask yourself the same question and give yourself an answer. I think it's a good question and sellers should be acknowledged and given an honest answer. Agents work hard and deserve every cent they earn. Never underplay your unique skills and success. Remember, not responding may leave folks feeling as if they are being taken advantage of where their money is concerned and this just isn't the case.

Good luck! - Sun Aug 10 2008, 20:50

I do not see a cemetary as a spooky and ghost dwelling place at all. Visually, it may not be pleasing to the eye for most folks as some may shutter at the thought. Perhaps, you may want to consider putting up a privacy fence or something that would block the view if it's an issue. The perception of out of sight, out of mind may be very helpful in your situation.

Good luck! - Fri Aug 8 2008, 08:29

There are some interesting answers here. I have been in the real estate industry in one way or another for over 18 years and counting. Every election year the economy suffers and the housing market takes a hit as well. Economy panic and insecurity spreads over the land and rears its ugly head once again. Historically, folks stop spending and question their financial choices made over the past 5 years or so. The media continues to report its version of what's happening truth or not, and consumers eventually follow the horried media trail and go into a financial tailspin of doubt and panic.

Having short and long term financial goals, and understanding what those financial goals are based on individual needs and wants may have derailed some of what's happening in the housing market today. I understand that the subprime market failure was due to upper income folks not lower to middle income folks as portrayed by the media and other financial authorities. Unfortunately, the lose of a job or encountering medical issues would be justified reasons for loosing a home, but loosing a home due to poor financial judgement continues to be the main reason many are going into foreclosure.

As the blame game and pointing fingers continues to sweep over the nation relating to the housing market, those who have a solid financial plan are riding out the storm well. They are not living in fear of losing their homes but looking toward financial opportunities that come with every shifting market.

My hope is that consumers will learn from what's happened, live within their means and think about their financial futures in an effort to make better choices. Will the cycle be broken? I guess that's up to the consumers as well.

Good luck - Fri Aug 8 2008, 08:11