Okay I confess, not typically, but sometimes I really am.
Recently, I had a very difficult decision to make in regards to taking a listing for a home of a very good friend of mine. We had talked much about what her wants and needs were and I had developed a wonderful marketing plan especially tailored to fit her home…for this was a lovely historical home. Where we hit the “snag” was when we began talking Listing Price. I had spent much time on the comps for this home (hours, truly) due to the fact that it is a historical home in an area containing few others and is in a neighborhood of homes that just do not compare.
As it ended up, my very ‘high end’ price to list.…was her very ‘bottom line’ price
to sell. And in putting much thought and consideration into this, I decided it would be better for both of us, if she were to be a little disappointed in me now (for not taking the listing) than upset with me later (for her home not selling). We parted ways still very good friends and I wished her the best of luck in the sale of her home.
I have also been watching a couple of other homes over time in which I did not get the listing, due to my comps and suggested pricing. For both of these homes the listing appointments went very well however we had rather large gaps as to where the Sellers wanted to list and where my comparable’s came in. The Sellers for both of these homes were not in financial trouble and could easily have come down in price and still come out well ahead. Their price was based on what they felt their home was worth and/or what they wanted to get out of it. One of these homes fell into the $200,000 +/- price range the other in the $300,000 +/- price range and we had a gap of $20,000 and $40,000 dollars respectively. They both ended up listing with other agents who listed at the price they wanted and here is where they are now at…..
Home #1 is now on their 4th REALTOR (R) over a 2 year period and is currently listed in the price range I had originally suggested. Unfortunately, this price is now too high (2 yrs have passed by) and they have been languishing at this same price since March of 2011.
Home #2 was listed in April of 2011 also at the price the owners wanted. They have taken no price drops and are now languishing also.
I understand these are not easy times for many of our Sellers however I do not go to my listing appointments to randomly throw out a number and tell them what they must list at. I do my best to provide strong market information and comparable’s to help Sellers make a confident pricing decision for themselves. Most often, the Sellers will take the information provided and make very good decisions in their pricing…..sometimes however this just doesn’t happen.
So, I have to admit, it was extremely difficult to not take the listing of my friend as she truly is a wonderful lady with a lovely home… and I was more than a bit disappointed when I learned I did not get the listings for homes #1 and #2…. however I have now learned, sometimes it really is better to be Realtor number 3, 4, or 5. Then I can come in when the seller is serious about selling, is willing to listen, we set a good strong price, sell their home quickly and I am able to make them very happy!
**I do sometimes feel a bit sorry though for what Realtor # 1 and #2 or even #3 and #4 had to go through to pave my way. But then again….isn’t this what often happens when an over priced listing is taken?