List it or Sell it?

What a great line! This came from a relocation director out of Chicago as she talked about the challenges real estate agents are facing today. It is hard to imagine that any real estate agent would turn down an opportunity to take on a new listing, especially in this painfully slow market; but it is happening all over the country.

Successful real estate agents are getting smarter about where they are going to invest their time and money. Even with all of the sales information available, they are faced with unrealistic sellers who are still under the impression that their home is worth what they paid three years ago or at least what their mortgage(s) payoffs are. In reality, homes are only worth what the market dictates. Personal situations, just like personal preferences in decorating, have nothing to do with it. People have to price their homes to sell, not just to sit in the MLS database.

And unfortunately, this mindset impacts all of us in the relocation industry. We have become the bearer of bad news which in itself requires a very thick layer of skin. Thankfully, there are many tools and resources available to help us deliver the message. If you haven't checked out ERC's Toolkit, I highly recommend it as a resource for today's real estate market. You will find a host of stats, market updates, valuation guides, and articles that can help you educate those who are impacted (i.e., relocating employees and corporate clients).

It isn't easy, but the best thing we can do when dealing with unrealistic sellers is to be honest. I liken it to ripping off a Band-Aid; the quicker you act (pricing it right the first time) the less pain you will feel (a quick sale)!