Last week I presented myself on a listing presentation to a potential client. The home was valued over a million dollars and located in a great neighborhood. The home was typical in size for the neighborhood. However, the home had not been updated or remodeled in the 20 years the owner had lived there. In conversation the owner was looking for top dollar on what I considered a fix up property. I discussed with them that the home most likely needed over 500K in updating and remodeling. I presented comparable properties and discussed the differences in their home as to homes in the area that had recently sold. My opinion of value and their value were far apart, probably 500K or more.
The owner upon my presentation decided to utilize an agent who ultimately went along with their opinion of value. I often ask myself is it worth telling a client what they want to hear to so that I can get the listing. My answer is no, my time and expertise is sometimes brutally honest and its my job to paint a fair and honest opinion when asked. In the age of instant gratification many potential buyers are not willing to undertake major remodel jobs and if they choose to undertake one, they want to purchase the home for a great deal.
I understand the many obstacles and challenges in achieving the ultimate goal. A good listing agent is not afraid to tell a potential client what they need to hear. My goal as well as the client is to ultimately sell their home for the highest dollar possible in the shortest amount of time. A quality realtor is multi talented with not only market expertise, but also integrity, honestly, and reliability.