Relocate to Wisconsin : What Can Sellers and Agents Learn From Burt Reynolds ?

What Can Sellers and Agents Learn From Burt Reynolds ?

   Burt Reynolds purchased the home built in 1975 with 3.39 acres  5 bedrooms  and  7 baths on  3.35 acres with  water frontage on Hobe Sound, Florida for $700,000.   Reynolds home

    A combination of divorce from Loni Anderson, some investment and career issues resulted in his decision to list the house for sale in 2008 for $13  million.  It was later listed again for $15 million.    

     Described as perfect for a large home library....others may considered some decluttering and staging in order.

Reynolds library    Fast forward to Labor Day weekend 2015...the house sold for a reported $3.3 million....the buyer says he can continue to live in the house as long as his rent payments are current.

    Life happens....and updates may not...either with the house itself OR the price.  Setting the price above the market....having another agent list it still higher....and hanging on to the last listed price of $4.9  million...got a sale price far less than it may have gotten had it been listed at a price that the market would bear almost a decade ago.    Burt Reynolds

        It is never about the price that the Seller thinks he/she/they "need"....not the one that they really "want" but what the market says....for the condition and location.
       Sometimes homeowners see the market decline....dated condition...as  things that happen to someone else...people can have a tendency to see things as they  wish they were...not as they are in reality.

      Realtors have a professional obligation...regardless of the "celebrity" of the owner...what the Seller says they need...what they want to realize in terms of profit....to give the Seller an honest evaluation of the price....unfortunately, that is not always the case.

       If you or anyone you know has had their house on the market a long time, has listed and re-listed their home with a variety of Realtors and is ready to listen to the price they have to hear...which may not be the price they want to hear in southeastern Wisconsin, Call the Hansons, we are honored to be of service.

 

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comment balloon 18 commentsSally K. & David L. Hanson • September 16 2015 12:31AM

Comments

 Good Wednesday morning Sally and David. You are right, life does happen. It's sad to see how some folks fall from grace.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) almost 3 years ago

Good morning Sally. He's had a tough time, getting it together, that is for sure. Hopefully he will figure it out. Did enjoy a couple of his movies.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 3 years ago

Yes, it's the price they have to hear that's current. Anyone can list a home...not everyone can sell it!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) almost 3 years ago

Yes, overpricing can really hurt the ultimate selling value (and time) big time.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) almost 3 years ago

Hi Sally.  Did Burt wind up selling his home for 13 million?  Thanks.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 3 years ago

Sally K. & David L. Hanson Now that was a love story gone astray. I remember when Uncle Burt had to kick that scheming witch out of his house. He sure did make some descent money when he sold, although he still thinks the house is worth $13M!

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (Realty National) almost 3 years ago

Yes, Sally and David, this is a textbook example of overpricing.  I wish Burt would have called me for assistance.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 3 years ago

I hope home selelrs will read this post and learn from it.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 3 years ago

Sally and David, sad that some agents listen to the seller and ignore common sense. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) almost 3 years ago

Attention grabbing headline.  Well said - professional posting.  This was great and I hope many sellers read it.  Buyers don't care about what you want - they care about market value and what the home is worth to them.  Over and over I hear sellers say, well...we need ___________________, regardless of the value of the home.  Thanks for the post.

Posted by Cara Marcelle Mancuso, Call a Marana neighbor, I'm THERE! LONG REALTY (Long Realty - Dove Mountain, Marana AZ) almost 3 years ago

Never did understand the whole Bur/Loni thing.....but he had some stupid agents that listed the house for what he wanted and not for what it was worth.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) almost 3 years ago

Good morning Sally and David. Your point is well made and this example is apt.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 3 years ago

It appears Burt has lost his pop-culture draw!  Maybe he could write a book about that.

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 3 years ago

Sally and David it is not unusual for a Realtor to give into a Seller and put the house on the market for the price the Seller wants it listed even if there are no comps to support it.  So it is easy for me to see it happen when their eyes are glared over with Stars.  However, you are absolutely right a Realtor has an obligation to list at the right price, and not just go along with what the Seller wants.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 3 years ago

Of course even Realtors get stage struck and Burt was always one of my fav actors as a kid...but he probably never wanted to hear the low price for years, Sally.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 3 years ago

Hi Sally and David -- whether it was a case of unrealistic expectations, client intimidation or a combination of these/other factors --- a practical approach to selling real estate will most often bring the best results.  A lesson learned?  Hmm -- some will, some won't.   How often do we see these stories reported despite the names on title?

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) almost 3 years ago

I always enjoyed Burt Reynolds. Whatever the reason for the overpriced listings, now that the home is sold I wish him the best.  You are right that this is a great example and lesson for all sellers.

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) almost 3 years ago

I be it continued to decline in condition over the years too, thus the lower and lower sales price. This is a good lesson for sellers to consider.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 3 years ago

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