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It's Scary Out There!!!!

Saturday, October 31, 2015   /   by Corwyn J. Melette, Broker In Charge

It's Scary Out There!!!!

Never fear....a professional is here!  Well, maybe not.  The local real estate market is heating up.  Yes, that is true.  Can't believe everything that you hear on TV or don't read in the newspaper.  Funny how that went.  When prices were falling and markets unstable, that was the headline everyday.  Ok, that isn't what I want to cover today....but it's coming!  

So where was I?  Oh!  So with the market heating up, here come those agents who got out of the market when it required real work and skills to get a deal done.  They are everywhere now.  I run into them all the time.  Sending me offers on my listings well below list price or countering my buyer's offers above list price.  In each instance, they have no basis or truth to their position.  Ask them "where did you get your comps from" and they begin to stutter or otherwise become defensive.  Poor things...they haven't learned anything.  They don't understand that real estate "professionals" actually work together to find the common ground.  It is not always one against the other.  Yes, that is true.  See this is what we all need to understand.  Those who are true to our industry find that we are trusted resources for both buyers and sellers in the process of sale of real property.  This trust comes from our knowledge of the market, negotiating skills, and the ability to utilize the two in concert for the advancement of our client's objectives.  

Now, Grasshopper....of course, great skill comes with great responsibility.  Yes, we must educate our clients.  However, as professionals we sometimes must educate our counterparts or be willing to receive education.  Case in point.  Just had an experience with a newer agent.  When presented with a counter that I could not find any sold properties to support, I asked for their supporting comps.  What I received was a list that was not vetted against the subject, but included the subject property.  Those of you in the business know that you can't use your active subject property to establish value!  Now, I am not trying to be difficult or funny.  However, what I was trying to do was to help educate a newer agent with less experience and get the deal worked out for both clients.  My issue was that I was gravely concerned that the appraised value would not support the countered sales price.  Needless to say, we could not strike a deal and that property still sits on market as available.  So please be mindful of the agent you choose.  Not that I want you to call me for assistance, but because I may have the buyer for your property and you don't want me to encounter an agent who is not willing to work together for your sale.  

Yes, it's scary out there......Happy Halloween!!!!