How To Not Sell Your Home

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					Special Report                                   How To Not Sell Your Home
  Please feel free to                            A Slightly Sarcastic Tip Sheet For Homeowners
      forward this to
                          I have seen so many articles and web sites
everyone who has a
                          committed to dispensing sage advice about                   Go It Alone
         stake in the
                          how to sell a home, so I figured I would take
 real estate market.
                          the opposite approach and provide the best         This one is a no-brainer. Most people who
                          advice that homeowners have taught me on           put their home on the market without a real
 Remind them they
                          how NOT to sell a home.                            estate broker do so in order to “save the
  can subscribe to                                                           commission,” yet the first question I ask a
   the Tallahassee                                                           “FSBO” is whether or not they will pay me if I
                          ** Warning ** What you are about to read
       Real Estate        contains extreme sarcasm and might offend          bring them a buyer. I have never had a home
    Newletter here        those who do not wish to sell their homes.         owner say “No.” In this market, I could not
                          Move forward at your own risk.                     imagine anyone even thinking of turning
 AT A GLANCE                                                                 down help in getting their home sold.
Tallahassee Housing       The keys to making sure that a home buyer
                          doesn’t purchase your home are a complex           But here’s the rub. If they put the home on
                          science, perpetrated through “ikey-mikey”          the market as a “FSBO,” yet are willing to
  Current Housing         see and do education. So, after pondering          pay a broker, then they are really only trying
Reports have been         back across my twenty years in the real            to save 1/2 the commission. They freely
                          estate industry, here is my list on                admit they will pay the broker working for the
completed and are
                          guaranteeing that you continue to own your         buyer. Hmmmm. OK, so now when my buyer
         posted at                                                           sees the house and sees it is a FSBO, they
                          home, long beyond the time you feel you
                          should have moved.                                 say “surely the Seller will drop their price
    The Market                                                               because they are not paying a broker.” And
      Bulletin                                                               they do.
                          10 Tips On Failing To Sell A Home
                          For those of you who have followed the             So what really happens (8% of the time when
                          Tallahassee Real Estate Blog, you probably         a FSBO does sell a home) is that they pay a
                          already know that 82% of the homes that            commission to the one real estate broker on
                          came on the market in the past year have           the planet working against them. Then they
                          failed to sell. Of course, I’m referring to the    give the other half to the buyer! Genius. The
                          homes listed in the Tallahassee Board of           one thing that homeowners who are consid-
                          REALTORS® Mulitple Listing Service (MLS).          ering going it alone never consider is that
                          There are also many others that have been          only 1 person in a 2 person agreement can
                          placed on the market by For Sale By Owners         “save money.” If you want to be the one that
                          (FSBOs), and they have a 92% failure rate.         saves, then you better retain a great real
                                                                             estate broker.
 Joe Manausa, MBA         Ten Sure-Fire Ways To Fail To Sell
 1140 Capital Circle SE                                                              Casually Choose A Real Estate
 Suite Twelve             Your Home
 Tallahassee, FL 32301    OK, as I started to think back, I realized I had
 (850) 386-2001           much more than 10 great tips for people            The second biggest mistake out there is          who wanted to fail in selling their home. So I     thinking that all real estate companies (and         had to do some thinking and choose my top          all real estate agents and brokers) are alike.
                          10, and here they are:                             Big mistake. The fact is, real estate is an
                                                                             industry that is easy to enter and many

Tallahassee Real Estate Special Report                   Page 1                        
Tallahassee Real Estate                                                                                          Special Report
                          people do so every year. In fact, the National       There are 3,000 homes for sale in
                          Association of REALTORS® once published a            Tallahassee. While you love your home and
                          report showing that 9 out of 10 people who           think about it as “one of a kind,” the hard
                          get into real estate are out of the business         fact is that it is a commodity. You have
                          within their first year.                             competition and anybody who understands
                                                                               marketing will tell you a critical element in
                          Selling a home is typically a very important,        selling your home is product separation
                          and costly event for most people. It typically       (standing apart from the crowd). The key is
                          involves their most expensive asset, so it           to do this in a positive light, not in a negative
                          always blows my mind when they pick their            one. Telling all the real estate agents in the
                          friend who “also does real estate.” Think            community that you pay less than the other
                          about it, in every profession you have the           3,000 of your competition is an excellent
   Subscribe in a         “best in the business,” and then you have            start in failing to sell your home.
      reader              everybody else. Why trust this most precious
                          asset to somebody who cannot deliver the                       Price Your Home Too High
                          very best for you? How can anybody who
                          does our business part-time compete with
                          those of us who do it full time?                     In the old days, before computers were
                                                                               tracking all the homes for sale in
                                                                               Tallahassee, a common method for
                          If you want to fail to sell your home:
                                                                               marketing a home was to put a high price on
                                                                               it and then “let people bring you offers.” This
                              Do not take your time and interview not         made great sense, as you know everybody
                               only the agent, but also the broker of the      wants a deal, so you might as well build in
                               company.                                        some wiggle room.
                           Do not find out what their strategy is.
                           Do not find out what their qualifications          Another reason that this method was not so
                               are.                                            bad is that real estate always appreciated!
                          Hey, you are going to spend thousands, or            No matter what price you put on the home,
                          even tens of thousands of dollars on this            eventually the market would catch up to it
                          service, so do not bother to choose the real         and you would be able to sell your home. But
                          estate broker who best knows how to help             not now. Prices are dropping. If you are
                          you.                                                 overpriced today, the market is not catching
    Newsletter                                                                 up, it is leaving you behind.
   Subscription                    Reduce The Commission
                                                                               You have to understand the process that real
                                                                               estate buyers utilize when starting their
                          OK, this one is actually a little bit like the one   search for a home. According to the National
                          above. If you reduce the commission                  Association of REALTORS®, over 80% of
                          (meaning that you are going to pay the               them start on the internet and look for
                          broker less than the other homeowners that           properties there. Again, with over 3,000
                          you are competing against), who do you               homes for sale, you can imagine they put in
                          think the agents will be promoting?                  a few parameters to reduce the list of homes
                                                                               that they need to view.
                          Real estate agents work for commissions.
                          They feed their families with commission             The first parameter most use is price. So,
                          dollars, they pay their car payments with            let’s look at an example. Say Mr. and Mrs.
                          commission dollars, and they plan to retire          Jones want to buy a home. They meet with
                          one day using their commission dollars. So           one of my CENTURY 21 Buyer Agents who
                          don’t be so quick to think that they aren’t          qualify them to purchase a home for
                          paying attention to how much money they              $250,000. Knowing that the Jones only want
                          will earn when they are showing properties           to see the ideal home for them, our agent
Subscribe by email        to their buyers.                                     starts to narrow down the choices.

                                                                               Since   the    Joneses    will   be    spending

Tallahassee Real Estate Special Report                     Page 2                          
Tallahassee Real Estate                                                                                         Special Report
                          $250,000, there is no need to look at homes          privilege to see the home!
                          that are too expensive, or at ones well below
                          that which they can afford. So, to narrow
                                                                               I know most people who ask for this do it out
                          down the list of homes to preview, the agent         of ignorance. But if you want to fail to sell
                          will put a price range (typically) for this from     your home, you are going to have to demand
                          about $240K to $260K. That will give them            that “No Lockbox” be put on your home, and
                          hundreds of homes to narrow down with
                                                                               that all showing agents must register with
                          other features.                                      the listing agent well in advance to getting in
                                                                               to see the home. Even though common
                          Now in this example, lets say you wanted to          courtesy would hold agents to this standard,
                          sell your home and were perfectly willing to         the fact is sometimes we get an excited
                          let it go for $250K. But you made a poor             buyer who just wants to “see it now.”
                          decision, and priced it at $275,000. Even if         Sometimes, the buyer sees the sign as we
                          the Jones family would have loved your               are driving them to another showing and
                          home, they would never have seen it. It              says “ooh, how about that one!” In order to
                          would not have appeared in the list of               avoid selling it to excited buyers, make sure
                          hundreds of homes for them to view in the            they cannot see your home through the
                          Tallahassee Board of REALTORS® Mulitple              combination       of    “no   lockbox”     and
                          Listing Service (MLS). Remember, you have            “appointment only.”
                          tons of competition, and price is the first
                          disqualifier.                                                 Talk With The Buyers Directly
                                    Ignore The Market Feedback                 This is another really good way to fail to sell
                                                                               your home. You see, buyers have all sorts of
                          If you listen really closely, the market will tell   questions when they see your house for the
                          you everything you need to know. First of all,       first time, so it is important that you stay
                          when real estate agents view your home,              inside the home during a showing so that
                          your listing broker needs to solicit their           you can answer all of their questions. Also,
                          opinions on the home. How does the home              they will never know all the interesting
                          show? How does it compare with other                 stories that you have about the home unless
                          homes with similar asking prices? What did           you share them with them during the
                          their buyers choose to buy rather than this          showing. The showing agent will really
                          home.                                                appreciate you sticking around. Not!

                          So the key to not selling your home is to            The fact is, most people are very polite. If
                          either not ask the questions, or at least            you are in the home, they will not let the
                          ignore the answers. Why bother getting               showing agent know of any areas of concern
                          feedback from people who didn’t buy the              about your home, because they do not want
                          home? Your home is your castle and it will           to offend you. They will complement every-
                          sell without any effort.                             thing about the home and then want to get
                                                                               out of there as soon as possible, because
                                    Demand “By Appointment Only”               they will feel like they are intruding upon you.

                                                                               If you leave your home when it is being
                          This is one of my favorites. It probably             shown, then buyers will be more open and
                          belongs up higher on the list because it is so       honest with the showing agent, allowing a
                          effective at chasing away real estate agents         good salesperson to work through any objec-
                          who would like to show your home. With over          tions and answer questions in a fashion that
                          3,000 homes on the market, of which nearly           could lead to a sale. But since you do not
                          every one is available at the whim of the one        want to sell your home, stand right in the
                          or two active buyers out there, the key is to        middle of the kitchen and say “what do you
                          make it really difficult to see your home. How       think?”
                          about requiring the showing agent to call a
                          few days in advance in order to earn the

Tallahassee Real Estate Special Report                     Page 3                         
Tallahassee Real Estate                                                                                      Special Report

                                   Hire The Best, Ignore Their Advice       This is actually the toughest one (note,
                                                                            sarcasm on hold for one paragraph). We
                                                                            spend so much time in our homes and we
                          If you were unfortunate enough to heed the        create such fond memories that it is often
  MLS Search              advice given in point #2, but you casually        hard to turn the home back into a house. But
                          selected a great real estate company, then it     it is a critical aspect of the home selling
                          will be important for you to ignore the advice    process. (ok, sarcasm reinstated).
                          of the agents and brokers of that company.
                          Good companies just have one agenda, and                   Don’t Let The Buyer Beat You!
                          that is to solve your real estate problem by
                          getting your home sold.
                                                                            OK, let’s just say that you screwed up the
                          If you truly want to fail in selling your home,   previous points and you actually managed to
                          you might actually want to consider doing         get an offer on your home. Don’t throw in the
                          the opposite of what the real estate              towel now! There is still time left for you to
                          company tells you. Demand open houses             fail to sell your home.
                          and more advertising, but don’t do anything
                          about pet odors and worn out carpeting.           When the buyer does the home inspection,
                                                                            the inspector will probably find quite a few
                          When the brokers tell you that a price            things wrong with your home (can you be-
                          reduction will bring some activity, you need      lieve the gall of this guy?). Well, here is
                          to counter back with something strong (tell       where you want to show your negotiating
                          them to remove the lockbox and demand             prowess. If you want to fail to sell your home,
                          “appointment only”). Remember, you are            tell the buyer how lucky he is to even have a
                          king of the castle, and just because you          shot at living in your home. Why should you
                          accidentally hired an excellent real estate       agree to replace termite damage, they were
                          professional does not mean you need to            probably there when you purchased the
                          consider their advice!                            house, right?

                                   Make It Personal                         Some of the most successful home selling
  Contact Joe                                                               failures have allowed $500 to stand
                                                                            between them and a sold home. These are
                          The thing that most successful home sellers       the great ones that won’t budge a bit, not
                          realize early on is that they want a              wanting to be beaten by a buyer. Sure, they’ll
                          “housectomy.” They are seeking to get rid of      live in the house a few extra months (years),
                          what was once their home, but now is just an      but it sure beats giving up on a week’s worth
                          unwanted house. But you cannot stoop to           of interest payments!
                          this level! If you want to fail to sell your
                          home, you have to make this personal.             Tips For Home Selling Good To
                          Forget the fact that you are really now trying
                          to get somebody else to take possession of        So, I hope this has helped you in some way
                          your home and focus on the things that you        prepare to fail to sell your home. Of course,
                          personally love about the home. If somebody       you could just use some reverse psychology
                          doesn’t like the way the home is decorated,       and use this list to better prepare you for a
                          then they obviously have something against        successful home sale. Regardless, selling a
                          you and your way of living. Make sure you         home is not rocket science, and a little
                          defend every improvement you ever made to
                          the home, because nobody is going to              preparation can get you to the result that you
                          undervalue your efforts. After all, you need to   are seeking.
                          make this personal. Try not to focus on the
                          reasons why you chose to move, but rather
                          on all of the things that will keep you in your
 Feedback Wanted          house forever!

Tallahassee Real Estate Special Report                   Page 4                        

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