Today I spoke with a potential seller..an interesting conversation and quite typical. Meaning two parties who want to sell a piece of property..but they do not agree on many things.
Now this property was not a high end property..in fact… the value is in the land…the problem with this property more than likely it would end up expired..it would be difficult to finance…and also to insure.
The property was rented and owned free and clear. Imagine to my surprise it was not a short sale but a property I didn’t think I could sell! 
Usually I ask a few questions…and then call back…I need to look at numbers..I need to look at all the numbers in the entire MLS. I also need to be brutally honest with myself...so I can report back to the potential seller.
These days price reductions = Lost Property Value…price it right from the get go otherwise you lose the window!
Next I ask myself a few questions…Can I sell this property? and is it worth my time? Will the seller cooperate and is it sometimes better to wait meaning the seller should continue to rent it out rather than attempt to liquidate if they expect x amount of dollars?
Sometime waiting can cost them more..I present the facts…all of them..from placing it on the market now vs. waiting…guess what NO GUARANTEES!
With selling…with property value… and with closing!
I also think about the inventory on the market…do they have a shot?
When I call back…I sounded negative…but in truth all I did was tell the truth the whole truth and nothing but the truth..I am brutally honest!
No I didn’t think I could sell the property for what they wanted to sell it for…heck there was a property that was on the market for 988 days.
It wasn’t worth my time if the seller wouldn’t offer seller financing..more than likely we might get a contract…but without a cash buyer…it would never make it closing.
While they were in the ball park of their pricing..it would not be enough. Especially since there were 264 other properties competing…yes all active the difference was most of the 264 properties were single family homes…yes they had a mobile home on a piece of land.
As I ended the conversation..I had to tell it like it was…I am more than happy to take a look at the property on Monday…please talk to your family and consider holding a mortgage if not..you might have to find another agent.
Before I hung up the phone..I explained…that anyone can list a property….and you want to sell right and not just list it? Of course! Well I am in the business of selling and if I don’t think I can take it to closing…I’m not the person for you!
I apologized for sounding so negative. Being brutally honest in real estate can save everyone time, money and energy!
Funny thing I explained I was not available over the weekend to look at the property..their final words, Can I call you sometime this weekend to just let you know what my family says?
If I took every listing that every seller offered I would have a huge inventory and not very many closings.
I won’t hesitate to be brutally honest and if the shoe were on the other foot…I would expect the same!
Contributing Writer: Midori Miller is a Real Estate Trainer and writes and trains Real Estate Training and assists sellers in short sale situations. Midori is a Licensed Florida Real Estate Broker , License # BK645709 at CENTURY 21 Sundance Realty and a member of the Daytona Area Association of REALTORS.
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