Sometimes the truth hurts...

Last week I went to a listing appointment and came away empty…by choice. The potential sellers weren’t prepared for the statistics that go with this current real estate market and just couldn’t bear to sell their lovely home for at or below their original purchase price. But that’s the name of the game if you bought property in 2005 or 2006. So long, farewell, Auf Wiederschauen , good bye….those prices are long gone.


Nearly every day I’m faced with home owners desperate to move, but not desperate enough to face facts. The only consolation is that even though they bought at the high point, if they sell now they can buy again, this time at the low point. A loss is still a loss, I know, but if you’re going to move on in life, find something positive to hang on to.



I also lost a listing last week to an agent who told a lovely couple what they wanted to hear. I’d worked with them months ago as they looked at condos on the island. They dream of downsizing and being free of lawn care and the like. But when I did a CMA to see what the best possible price was that I could get them for their current home, everything ground to a halt. I told them the truth…their home is absolutely charming and unique in it’s decorating style. Plus it’s nicely situated with a great view of the community pond. But it’s older and doesn’t compete with the new, more ‘decked out’ homes that flood the market in that price range. It simply won’t appraise even if they get a buyer prospect that falls in love with for its decorating and cache.
I had hopes that they would eventually come to see the situation for what it is and finally list with me. Instead, after a couple of months, they found an agent who told them what they wanted to hear…and they listed the house with her for at least $60.000 over fair market value.


I’ve seen this before. And, in fact, even from the same agent who listed that home. The houses don’t sell and the sellers get frustrated, eventually beaten down. At least half the time they give up and blame the devil for messing with their lives. Instead they should blame the agent who just wanted to beef up his/her listing inventory.. After all, listings are what get us calls…and the reason for the old adage ‘you’ve got to list to last’.


It’s those agents that give us all a bum rap. I and others work hard and long for our clients and try to give them the correct information and advice. But with agents ‘blowing smoke’ just to get the foot in the door, we all suffer, as does the client.


I don’t know what cliché or tag line I can use without sounding like a sore loser. It’s against the code of ethics to speak ill of other agents so those of us who play by the rules have to sit still, wait and watch, When those overpriced listings expire we get called back in to save the day. As #2…you try harder.