Relocate to Wisconsin : My Father Said the List Price Should Be...Said the 1st Time Seller

My Father Said the List Price Should Be...Said the 1st Time Seller

  I vividly remember in a time long ago and far away....taking three first time buyers for their second peek at the houses they had fallen in love with...each with an entourage of relatives in tow to weigh in on the decision.  Every parent chimed in wth..."We didn't pay that for OUR house...that's way too much!"and despite our comps, and in one case illustrating what could be done and the expected return on their investment in a relatively short period of time...Parental advice won out and no one wrote an offer...and no one got the anticpated appreciation which Pareental adviceproved to be "right on the money."   Sigh.

     First time Sellers also receive lots of advice...from parents, friends...and other people..not licensed agents..but they "know"...they have "watched the market"..."the neighbor got $X"...."Your house is MUCH better than the one that sold for $X".  Well meaning...they believe that they have their children's best interest at heart...BUT....Highest is NOT alway best when it comes to list price...if the market doesn't justify it...research tells us that the house will sell for a lower price when it DOESPrice reduced sign sell...which may be lots longer...and a few price reductions away from when it could have sold had it been priced properly....Sigh again.

  Sure understand the temptation to step in and "save" a child from making a bad decision...from "losing money" because the real estate agent "priced the house too low.." One of our answers to this is ...What incentive do we have to make less money ?...in addition to showing the black and white proof of homes that started too high and ended up with many days on the market price reductions a plenty...and low, low price when the house sold.

     Price is right  Please Dad and Mom...Sister, Aunt, Cousin, Neighbor...trust that licensed, reputable agents who work in real estate every day know their business...and they too are working on behalf of your daughter, sister, cousin, neigbbor to get the best possible price in the shortest amount of time.  Reputable agents study the market and KNOW when the price is right..

    If you are looking for agents who are honest and will to the best of our ability...and our understanding of the real estate market in southeastern Wisconsin get the highest and best price the market will permit...call the Hansons...414 525 0563...we are honored to be of service.

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


home worth iconemail iconhome searchLinked In  facebook

Comment balloon 20 commentsSally K. & David L. Hanson • May 18 2018 10:45AM

Comments

Good morning, Sally and David... all I could think of reading your post was "Dear God... spare me from well-meaning relatives and friends (whether buying or selling)."

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) about 1 month ago

They are....everywhere Nina Hollander ...unfortunately.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (Keller Williams 414-525-0563) about 1 month ago

Good morning Sally. Once upon a time a distant relative had to sell. I told them an expected price. The family bartender know it all quoted a higher price. They went with him and his advice to be a FSBO. A little over a year later they let me know they got their price. In the day of 17% CD's they lost money and had carrying costs, but remember they got their price.

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) about 1 month ago

Sally K. & David L. Hanson the pundits and relatives mean well but they stall sales & their kids lose out...knowing the prices is why you hire an agent who can price to sell at market!  The Hanson's get the WI market people!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) about 1 month ago

Sage advice Sally! I recently took around new buyers who had a Realtor family member in tow from another state. We did not get anything accomplished, offer wise, until their "expert" went back home the next week. Prices in one part of the country are not indicative of what a home will sell for in another region.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) about 1 month ago

Oh those meddling relatives...they are there whether it's buying or selling and we know this all too well!

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) about 1 month ago

Good Morning, Sally, Thanks for sharing your experience.

Posted by James Grant about 1 month ago

Good morning,  Sally and David - everyone has an opinion and many want to share them --- especially their expert view on real estate. Ah, yes --- bring on the experts.

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) about 1 month ago

Good Morning! Oh the dreaded parental involvement! Too funny but, I met with a first time home seller recently who wound up buying their second choice home. As coincidence would have it, their first choice home sold a few months back with a considerable gain than what they are going to realize with their sale. 

His comment to me, "You were right and I should never have listened to my parents...after all, they are living in Florida and had no idea how sales were here!" 

The good news...they won't be listening to parental advice on this sale! LOL

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) about 1 month ago

Hi there. Oh man, we had a family from California weighing in on one of our listings that closed in January. Their market is extremely different from ours - "your house is worth at least two million here, why are you selling it for $600,000?  Because it's located in Washington and it isn't worth two-million outside of California. Good Lord! 

Oh yes, and then there is the realtor friend who lives elsewhere coaching somebody every step of the way. I know real estate well, but I sure don't know the market outside of my own.  Argh. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) about 1 month ago

HI Sally K. & David L. Hanson - I love dealing with locker room real estate agents. I have another top agent in Sedona say all the time.... "What do I know, I am just a dumb REALTOR®"   LOL!

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) about 1 month ago

Sally, family members do mean well, but they sometimes can be the deterrent that will keep them from being homeowners!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) about 1 month ago

I have found in most cases I make friends with the parents and they are my advocates Sally and David...9

Posted by Paul S. Henderson, REALTOR®,CRS,, Tacoma Washington Agent/Broker & Market Authority! (RE/MAX Professionals.) about 1 month ago

Morning Sally.

I've only seen it a couple of times.  Those well meaning friends and parents, can kill a great deal.  Another sigh

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) about 1 month ago

That's the same person who gets Uncle Fred to do some electrical repairs because he did a little of that during the big WW.

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) about 1 month ago

Good morning Sally and David.  It's not bad enough that every third or fourth person is a licensed real estate agent when everyone else thinks they are experts in real estate as well.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 1 month ago

Good Morning Sally & David, this is great advice to provide.  Leave it up to the professionals and not online comments or other sources.

Posted by Khash Saghafi, Mortgage Loan Officer, Cleveland Ohio (Liberty Home Mortgage Corporation) about 1 month ago

Good morning Sally and David - the not so experts just know best.  It is an age old problem. 

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) about 1 month ago

Hi Sally and David- they do mean well but they need to understand that it's best to stand back, take it all in, and let the professionals handle it. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) about 1 month ago

This is the way it is often. Selling a home is very different from buying a home. While buying a home generally involves emotions and feelings, selling a home typically centers on maximizing profit potential.

Posted by Jeff Perlis Prime Properties, Experience Your Own Transformation! (Prime Properties) 14 days ago

Participate