Don't Shoot the Messenger
Don’t Shoot The Messenger
A few days ago, after the New Year I was at a social gathering and a friend of mine began to share his frustrations with selling his resale property he had listed with another agent. He had spent the holidays in his new home, but his prior residence remained unsold. It had been on the market for about 90days. There were twelve showings, but no offers. He was very upset with his listing agent.
When I asked Michael what his listing agent would say was the reason why the house remained unsold, he replied, “Of course, she wants me to lower my price”. He began to tell me he was priced below appraisal, the local comps, and how clean his house was kept. Michael and I are both Italians. It was easy for me to see the pride and stubbornness in his remarks.
“What do you expect your agent to do that they have neglected?” I asked my friend. He responded, “That’s their job. How would I know what they should be doing? But, it’s not my price.” My sales and psychology background suggested that I add frustration to my friend’s list of attributes.
In my opinion, something is only worth what someone is willing to pay. If a house receives no showings, or numerous showings with no offers; these are both symptoms of overpricing. It’s always easier for a frustrated seller to ‘shoot the messenger’ than look in the mirror and see some stubbornness, pride, and greed.
“What would you accept if a buyer made you an offer right now” I asked Michael. He mentioned a figure substantially below his listed price. I suggested he lower his price to that exact number. Of course, he said, “What about if the buyer made me an offer at a lower amount?” I replied that was the idea, to obtain an offer.
