By Rich Levin
What is that expression about Doctors being the worst patients? Well I have my house on the market. We are moving to Atlanta, Georgia from Rochester, New York to be close to our granddaughter (she’ll turn one on November 21st B”H). So, I write to you today as a Seller in a bad market during one of the softest times of the year, having had my house on the market for just over a week and already reducing my price by $10,000.
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Although, I am a Broker, I am not actively selling. So, I asked an Agent I coach who is with a company with all the best marketing tools to work with me on it. She has already cursed at me out loud, under her breath and I’m sure out of my hearing. REALTORS®, like doctors, at least in my case, do make for the “worst” Clients.
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There is a rhythm to the year. There are better times to sell and worse ones. This is a bad one, for a bit longer. The best is mid spring, April and May. The worst is the two weeks around Christmas. Then there are some better or worse times. Another good time is mid September to early November. And right now (mid to late August) is one of the soft times.
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Children are home from camps and summer vacations are at a peak. The college ages are preparing or being dropped off. With the sense of fall in the air, good weather wants to be taken advantage of and bad weather is a reminder of things to come. There is a natural lull for two to three weeks in late summer even in the hottest of residential markets. For a Seller, like me, it is time to be anxious or patient. I tell myself, “Be patient, you’ll live longer.”
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For those Agents reading this, if you have been doing the right things all year with your marketing, high quality service, staying in touch with leads, and managing your business by the numbers, you are remaining busy with the smaller number of Clients who are now active.
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For those Agents who don’t control their attitude and their business, this is a tough time. Not only is it a soft time of year, it is a soft year. Although interest rates keep getting even lower and prices are tremendous, there are fewer highly motivated Buyers and the less motivated are being quite (what’s the nice word for fussy… oh) particular. Many Agents are struggling, worried or both. If you are in that position, call me, not as a Seller but as a Coach. Your struggle and worry are not necessary and they don’t help. Just like your Seller’s anxiety doesn’t help. It needs to be replaced by information, sincere empathy, and clear thinking. As their Agent it is your job to provide that. As your coach it is my job to provide that to you.
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Back to selling my house (or yours), the stock market roller coaster, partisan politics, and cautious business environment create insecurity which leads many people to delay their decisions to sell and buy their homes.
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There is very little activity on my house. Either my price is too high or there are no Buyers. I’ll wait until the beginning of that more active time early-mid September. If the house is not sold by then and activity doesn’t pick up we’ll drop the price another $10,000. Or if activity picks up but we don’t receive an offer, we’ll drop the price. In Real Estate jargon, we are what you call a motivated Seller. I will be in Atlanta for my granddaughter’s birthday.
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Selling your home, buying a home or investing is not magic or mysterious, it is understandable and explainable. If you are selling or buying and you feel confused about what is happening, talk to your Agent. If your Agent doesn’t provide satisfactory answers, talk to their Broker. If you are still not satisfied e-mail me and share your situation. With complete confidentiality, I’ll share possible solutions. There are many misconceptions. You do not have to suffer from them. You may suffer for many other reasons, misconceptions and confusion do not have to be among them.
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There is a rhythm to the residential Real Estate market each year. There is rhythm to the good markets and bad. Although, the reason for the title of this is to share a bit of humor, it was the title of a presentation I did in college, for which I got an ‘A.’ Do you know what it refers to? It has nothing to do with business… well not the Real Estate business. If you know, I hope this adds a little smile. J
Rich Levin is a National coach and featured speaker to Real Estate Agents. His Clients are the most productive and most respected because of their high standards of performance. Rich is President of Rich Levin’s Success Corps Inc. You can contact him at Rich@RichLevin.com or 585-244-2700. View Rich’s free daily coaching Webinar at www.FreeCoachingWebinar.com.
