Home Sellers Falsely Believe They Know Better!
There are always choices in life and solutions to almost every problem or situation…unless the door to dialogue and reason are closed by those we hope to enlighten. As real estate agents, and brokers we do not own the goods we buy or sell. The nature of brokerage is that market for a fee the goods of others. Upon a successful completion of that agency we are paid. We earn our compensation when as agents of the seller we successfully sell those properties entrusted to us. There are many factors that precede a sale, and most of this is dialogue. As real estate agents, we inform our clients of many things. The prices of recently sold homes, current competition, market activity, mortgage rates etc. Anyone that has worked real estate for a while can fully understand this occurrence. As real estate agents, this does not work as it should all the time. There are some sellers that we can enlighten by providing pertinent information, and share enough information that the home seller can make an informed decision. It is what rational adults do, and information feeds the intellectual process. However, not everyone is receptive to information. Some home sellers that only go by their emotions and seem reject all reason. No matter how much information and data is provided, their position remains the same. At this juncture, we must ask ourselves what is the reason? Are the seller’s firm in their stance because of fear, denial, or just raw ego? Is the seller just pulling off a poorly conceived negotiation bluff, or are they vainly playing a game of ‘Chicken’ with buyers and their agents? If so, it isn’t working and what do they hope to accomplish?
It is no coincidence that ‘Pride’ leads the list of deadly sins. Ego can easily block reason from showing the seller the right path to take. It clouds judgment. In this case, ignorance isn’t bliss, it just thwarts the sale. There will always be homeowners that believe they know more than their agent, and do not heed their advice or input. Perhaps it explains why discount real estate service has grown. Sellers are really just in total denial and do not want to be told what to do.
A refusal to listen to sound advice from an experienced agent means the price will not be reduced, the home will not be painted, the dirty carpet stays, and means the home won’t sell at all. The ironic part is that the sellers still expected you to perform the sale. Perhaps this is a prime reason why so many homeowners try to sell their home without an agent. They simply do not want to be told what to do despite the fact that an experienced agent has the knowledge to successfully sell the home.
At this juncture an experienced agent quickly realizes that his means the home will not sell. The failure of the seller to address objections and face reality denotes a stalemate of reason, and communication. We must now question the entire futility of this exercise. Since we are not running an adult day care, it is probably smarter to release the client from the listing agreement with broker’s permission and part ways instead of waiting for the listing agreement to expire.
Fatal Home Seller Mistakes:
1. Price is firm no matter what information is provided by agent.
2. Won’t take one cent less than list price
3. In lieu of addressing objections insist they’ll give the buyer a credit.
4. On principle they will not pay buyers closing costs.
5. Seller will not go out of pocket for any loss.
6. Dispute comps with agents (Example… neighbors gave away their home.)
7. Believe their home is the best in the neighborhood.
8. If you wait long enough, the right buyer will appear.
9. View all offers as an insult, and want to counter back at full price.
10. Will not counter a reasonable offer.
11. Blame agent and lack of marketing for the home not selling.
12. Share with you they are not in a rush to sell and have time!
13. Falsely believe they don’t have to sell.
14. Demand the listing agent pay for the seller’s loss.
15. Unreasonably believe the lack of sale is solely the agents fault.
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