May 26, 2009
Disappointing List Price May Mean a Faster Sale
Two weeks ago I met with a couple who are thinking about listing their Delavan home. We “clicked” quickly and as we discussed the market, they assured me they knew the market wasn’t as strong as it had been. I went to the listing appointment well prepared; I knew the average days on market for similarly priced properties, I knew what had sold in the previous 12 months, I knew their competition – what was and wasn’t priced to sell in the current market, I knew enough statistics to thrill an actuary. Their home has a lovely location and nice space; but it hasn’t been updated and one of the competing properties is an adorable, turn-key home with great lake rights that is priced extremely well. They asked if I had seen a neighboring property new on the market and, since I had not, I assured them I would not only visit that home but all of their direct competition before making a final price suggestion.
During my follow up appointment we had the “price discussion”. I knew they wouldn’t be happy with my suggestion – it was easily $50,000 less than their lowest price expectation. But here’s the problem: I’m a highly competent professional with experience throughout Walworth County and I know the market and I know it won’t support their price. I’d love to work with this charming 
and gracious couple, and I know I could sell their house, but as I told them yesterday, “I’d rather disappoint you now than let you down later.” It’s my job to make the tough calls. Ultimately, the market value of a property is what a ready, willing, and able buyer pays for it and the four properties in their neighborhood that haven’t sold tell me the ready, willing and able buyers are not paying the prices that are being asked. The lesson in this story? If you’re going to list your home, don’t sign with the agent who tells you what you want to hear; list with the one who delivers a clear, consistent and realistic message. In the end, you’ll be placing a “SOLD” sign in your yard while your neighbors continue to whine about the weak market. From Delavan Lake to Powers Lake and all the places in-between, I’m always willing to talk to sellers who are ready to dig in and get the job done! Give me a call.
Posted by:
Janis Hartley
Tagged With:
delavan lake,
janis hartley,
powers lake,
real estate market
and walworth county
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