By: Mike Clarke

REAL TALK with Mike Clarke:
Are Customers Always Right?

Tags: REAL TALK: Your Neighbourhood Edition

Most times, it’s actually a process of give and take. Here’s a great example:

I recently sold a home in Clairlea. When I first sat down with this seller, he gave me his list of ideas for getting top price for his home and who he thought his prospective buyers might be. He spoke, I listened. It was, after all, his home and his neighbourhood for many years and he was able to see it in the best light. It helped that he is a smart, analytical thinker with solid reasoning behind his decisions. 

At his request, we listed the home at the high end of the spectrum since prices were rising in this hot market. We held back offers for one week and received one low-ball offer, which my client quickly rejected. We continued to market the home at the same price, had lots of activity, but zero acceptable offers. Through it all, he remained calm and positive.

Based on some feedback we had received, the seller decided to do some improvements to the home in hopes of still achieving the higher asking price...still no interest. In fact, showing requests began to dwindle over time. By this point, we had been on the market for a few months. He remained upbeat and took it in stride. No one was rushing him to achieve the best outcome!

From the outset, my plan of action was to price the home slightly under market value to attain the goal of best price. This was a technique that I’ve adopted many times with much success and I showed the seller these examples, hoping he would buy into the process.  

Based on the patience and trust we had built up over time, we were able to agree to lower the price and put it back on the market - and immediately received 4 offers! The seller chose the right offer for him - best price, no conditions - and ended up thanking me for being  so patient. In this case, it wasn’t about right or wrong, it was about perfecting a process that ultimately worked for this particular seller. Not only are customers always right - they are especially unique!

Until next time,