By: Mike Clarke

REAL TALK with Mike Clarke:
Honoring a Seller's Needs

Tags: REAL TALK: Your Market Watch Edition

Homeowners sell for a lot of reasons. It’s our job as agents to find out the motivating factors behind why they want or need to move. They might be upsizing, empty-nesting, retiring, going through a job transfer, experiencing health issues or changes in their personal relationships. Often it’s as simple as falling in or out of love with a neighbourhood. Whatever the reason, timing is often critical and this case is no exception.

I recently sold a Woodbine-Lumsden home and originally met this client a year ago.  After I gave him a price analysis of his property at current market value, he politely thanked me for my professional opinion but explained his family’s needs dictated that he get a higher price in order for it to work. He was sincere in his goals. I appreciated that because it makes my job easier when clients take a realistic look at their needs. 

He was so sincere that I promised him I would take the property on at the higher price and do my best. After many open houses, appointments and parades of people coming through, we just couldn’t get the price he needed in order to move. Again he asked me what it would take to get his home sold. Again I replied with the original price I had quoted 3 months earlier.  Yet again, he thanked me for my honesty and asked for alternatives. Here was my reply: Prices are on the rise, let’s wait for Spring 2016 and see if we can successfully ride that wave. 

We relisted in April of this year and sold his home in late May for $55,000 over asking. It was a year later, but the timing was perfectly executed. 

Over the years, I’ve had to adjust my tactics to adapt to a changing marketplace. I’ve invested in new processes and technology but  I’ve still hung onto good old fashioned values such as sincerity, loyalty and honesty. Those values, along with honoring a sellers needs, still spell success in any real estate climate.

Until next time,