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Do You Want the Truth or Do You Want to Hear What You Like?

Do You Want the Truth or Do You Want to Hear What You Like?

One of my all-time favorite movies, “A Few Good Men”, has this line that I love:

| “You can’t handle the truth”. 

This line often goes through my head when I am going to a listing presentation and I know that the couple or the person sitting in front of me is probably going to talk to two or three agents. I face a dilemma in speaking the truth even though it might not be what they want to hear.

I know for a fact that a house will sell if the house is priced correctly – let’s say 1.15 to 1.2 million dollars for this example.However, if the client has heard from other agents that they could list it for 1.3 or 1.325 million, then who are they going to believe? Of course, it is so much easier to go with the agent that is  telling you what you emotionally want to hear.

But is that really what’s best for you? Because here’s the deal: After 21 days, your home is going to be stale on the market. If what the market really bears is 10% lower or more, the odds are good that it is just going to sit there until it has dropped in price. When it finally drops in price, people are going to know that it is either stale or that there is something wrong with it, which depreciates your home’s value even more. 

In either case, you are going to be on the defensive and will have to fight even harder to get your home’s true value.  It is going to take so much more time and effort to get it marketed and correctly. Studies have shown that you actually lose money, up to 10% more. But on average, I am going to tell you it is around a 5% loss  compared to what you could have gotten, had you priced it right originally.

I want to encourage you to ask for the facts. Look at the data. I am not going to tell you a certain price if the data doesn’t support it. I will show you the physical data and the reasoning behind it. Sometimes that is hard to hear because we don’t always want the truth. Sometimes we just want what feels good.

THE BOTTOM LINE

So here is what I want you to remember is that when the home is sitting on the market for a month, two months, even three months, and you’re paying another mortgage payment each month, perhaps when the home is vacant, when it could already have been sold, that can add up a lot more than what you had already anticipated you would have to spend in marketing costs to sell that home. And I want you to pocket all that money. I want you to end with more money in your pocket than you thought you were going to get, but certainly what we both expected.

I hope that helps today in getting you to that understanding of hearing the truth versus hearing what you want to hear. Sometimes the truth is actually better for you because it’s going to give you not only the right price to begin with, but a higher net price overall. As always, I look forward to working with you and helping you. Call me or text me with any questions you have.

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