But, I just think my home is worth more than that........
Words uttered by a recent Seller who was only $5,000 apart on a deal with a Buyer.
During the 70 days we were on the market, we had received reasonable showing activity and I finally convinced my Seller that a price adjustment was needed to receive offers. The price reduction did the trick -- activity picked up even further -- and we received a good offer from a stellar Buyer.
A tough negotiation found us only $5,000 apart at $450,000. My Seller declared they had reached their "bottom line" and had his heals dug in.
After all the logical arguments I could muster, I asked Jim, WHY? WHY won't you accept this offer -- and I do not want to hear any B.S. I want to know WHY."
"Because I feel my house is worth it."
At which point I got into my sellers face very strongly and very bluntly, "Your house may very well be worth it to you, and for that price you get to keep it. However, for the purposes of a SALE, what you think your house is worth is completely irrelevant to the process. For the purposes of SELLING your home, the value is place by your Buyer." I also said a few other pointed things to this Seller.
Reluctantly, the Seller came to his senses. The contract was put together.
The following week the financial markets tanked.
On closing day, my Seller called me to thank me for not taking his B.S. and getting in his face. Because I was strong with this Seller, he feels I saved him any thousands of dollars and is very grateful now that he was a Seller who was successful.
If you are currently selling your home, understand that your home may not be worth what you think.
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