Your home is nice…but it’s not THAT nice

Your home is nice…but it’s not that nice

orlandopropertymanager

Your home is nice…but it’s not that nice

This can be a tough one for some:  telling clients what they really don’t want to hear.  It’s something we have to do in this business, though.  Whether a listing agent on the sales side of life or a property manager looking to list a rental property, all are best served when clients are provided with current, accurate information and honest assessments….

…even when they don’t want to hear them.

HGTV’s Real Estate Intervention is a show I’ve liked for a while now- and I really wish there was a companion show for rental properties.  For those not familiar with it, the show is hosted by D.C.-area Re/Max agent Mike Aubrey and includes a stager, Sabrina Soto.  Aubrey initially meets with a seller looking to put their place on the market- and makes notes about the subject property.  Then the fun begins.

Aubrey typically takes the seller to view 2 comparable properties- one that’s similar to theirs and on the market, another similar to theirs that’s recently gone under contract.

With the comparable property priced below the list price the show’s seller has in mind, Aubrey proceeds to ask the seller a question many of us would like to ask our clients- yet far too few us actually do.  Something along the lines of “If this price is listed at x and comparable to yours, what makes you think you can get more?

A trip to the property recently under contract and priced below the seller begs the same question- but more than begging a question, these scenarios and others like it that play out time and again around the country every day illustrate a few things.

First, the sellers and their reactions are typical, and they’re understandably human.  Secondly, their mindsets mirror the ones we deal with every day- owners with unrealistic expectations of rental income or sales price that are often rooted in a personal attachment to a property or simply an ignorance of the market and current prices.

It’s our task to overcome these mindsets as we seek to truly provide our clients with the best possible service- for remember:

pricing a property too high means more time on the market, and

pricing a property too low means we’ve let some of our owners’ money walk out the door.

Overcoming owners’ unrealistic expectations is critically important- but before we can overcome them, we must confront them.

Your home is nice…but it’s not that nice

DENNIS B. BURGESS
Leasing Consultant/Business Developer
Licensed Florida and Alabama Realtor

Legends Realty
290 Waymont Court
Suite 100
Lake Mary, FL  32746

407-333-1010 x137 office
407-278-1240 direct
407-278-1240 fax

dennisburgess@legendsre.com

www.centralflrentals.com

Turning vacant into occupied, and “houses” into “homes”SM

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About Dennis Burgess

Dennis B. Burgess Property Manager Licensed Florida Realtor Dennis B. Burgess Licensed Florida Realtor/Property Manager 2016 ORRA Governmental Affairs Committee Chairman 2016 ORRA Property Management Council Chairman The Real Estate Firm of Orlando 7600 Dr. Phillips Blvd., Ste #146 Orlando, FL 32819 Cell: 205-445-4755 Office: 407-581-5550 Fax: 407-581-5551 dburgess@reforlando.com www.reforlando.com Twitter: @orlrentals Turning vacant into occupied, and "houses" into "homes"
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