We met this week with homeowners who called us saying that they were tired of trying to sell their house on their own, and would we please come list it.
We met them, and they have a lovely, updated, comfortable waterfront home. We talked about what has been selling in the neighborhood and they said, "Well, we really don't NEED to sell."
Then, PLEASE, don't sell. We advised them that today's market would not support what they wanted/needed to get in order to sell, and since they didn't NEED to sell, to wait until the market reached their "need" level.
Should they keep their FSBO sign out? No - that's lengthening the time it will take to start the rebound. The number of homes on the market is part of the media's and the buyer's acknowledgement of how bad things are.
So, PLEASE - take your home off the market, if you don't need to sell, and aren't willing or able to meet the market prices, and wait until the market rises to your expectations.
If they would only listen. :)
Yeahhhh!!!!!!!!!!! That's the way to say it. Simple sweet, honest and right on the mark!
AWESOME ADVICE! I have turned down more listing this year from sellers who didn't need to sell than I actually took listings in some years of my career. Why sell if you don't have too, even my parents have a home that is sitting vacant, but they don't have to sell, it is paid for, so they are going to rent it out, wait a year or two then sell! Homes that don't need to be sold are rarely sold anyway!
Excellent advice!! I deal primarily with vacant land and have been preaching the same advice for some time now. In my target area we are showing 15 years of inventory for vacant lots at the current absorption rate. Why add to that if you are not motivated to sell at the current market value. I firmly believe that it will be next year before we see any real growth in our area, so waiting on the market makes better sense to me.
"Well, we really don't NEED to sell." are the words that say, DON"T LIST! You provided excellent advice. It's good to see you posting again. We have been so busy in Austin that I have barely been able to comment and I hope your business is picking up too!
AMEN! We need to have more sellers understand this....I have one that just told me today to drop the price $20K. The do want to sell, but wish they could of waited....hope this price drop will bring the buyer we need!
I told a Seller this a couple weeks ago and now they won't return my call. Either they did not like what I told them, or the did and just don't feel the need to talk to me anymore!
Sharon, I like the phrase,"and since they didn't NEED to sell, to wait until the market reached their "need" level." Mind if I borrow that one?
I think it always sounds great to sell your home if you don't really need it any more or for whatever reason. But reality is that this isn't the perfect market to be assured that you'll get exactly what you want/need out of the sell. So I completely agree with you that they should always wait if it isn't absolutely necessary to sell!
Kathy
Sahron - that's certainly good advice for many who are considering selling, adn for those who are trying but shouldn't. If a home (not a short sale) can sit on the market for months and months, or a year or more, the owner must not really want to sell, or need to sell. I have done market analyses for 3 different parties in teh last few months where the market would not justify putting the home out there for sale. Thus far the sellers have listened.
Jeff