Mastermind for October 10th. The Trifecta of Real Estate Lies
There are many real estate lies in the world. There. I’ve said it. Most of those lies will be reused like a worn out family heirloom and for years to come they will be passed down and used on Realtor after Realtor. These lies will be the source of countless frustrations and scathing blog posts and yes, I have already written about many of them. Most are just little white real estate lies like “oh, yes, I’ve been approved already” or “I replaced the roof three years ago”. Then there are some of the bigger lies. I’ve talked about a couple in previous posts, like; “I will only buy if it is a real deal” (there never is) http://bit.ly/W6pSbs and, “I’m going to buy when the market crashes” (I’m too scared to take the plunge)http://bit.ly/TB7KHh , so it comes as no surprise when today’s Mastermind uncovered the third and final trifecta of real estate lies…..”I don’t really need to sell”.
Ah yes, the third and final grand daddy of all real estate lies. “I don’t really need to sell“. Literally translated it means “I am so desperate to sell but I need to clear $X and I will use your money, time and effort to market my home only to beat you up so badly on commission that you end up losing money just to get rid of me and if you can’t sell it then I will list it with someone else for even more money and keep on doing that until the market catches up to what I really want but by then I will want even more money because I am never going to be satisfied”. Breath. Just breath.
Just so we are clear Mr. seller, when we list a house, it is with the intention of selling it. It is not an exercise in checking in with the market. If you want to do that, consider investing in stocks where you can go on-line at any given moment and get the exact value of your portfolio.
Only a few agents in this morning’s group had been exposed to this real estate lie but the consensus was that when a client tells you they don’t need to sell, you really only have two options; ask them to pay for your expenses upfront (to be reimbursed on the completion of a successful sale), or run for the hills. Personally I vote for option two. Lost time is lost opportunity and life is just too darn short. Agents, don’t fall victim to the Trifecta of Real Estate Lies.