Don’t Shoot The Messenger | Leading Up To The Real Estate Listing.
Hurdles to clear in real estate is like anything else in life. Sometimes a Maine broker, REALTOR gets a call from a seller like this.
Often it can be a widow, with a waterfront property on a Maine lake. No fun coming up to the camp in Maine she tears up. Because lost my best friend lamented.
And only reminders all around the widow, the owner of the Maine waterfront property. So like seasons that change, it’s time to sell.
Where I come in, why I got the call.
What’s the value of the Maine real estate wondered out loud.
It’s a big step to consider letting go of a spot on the water in Maine that has been nothing but good times, memory making with family, friends. Being next door to a Maine lake or out on it is a heck of an experience.
It is a setting where you can not help but relax, have fun, notice the neat world around you when lucky enough to own a lake property in Maine.
So after the agent, broker, REALTOR in Maine gets the call, hears the story from usually Mom, the levers get thrown forward into gear.
Wheels start turning. What’s the property in Maine worth? Call or stop into the town office where the Maine lake property in this case is located. To find out the lot size, square footage, taxes, all the nitty gritty details on the property listing to be. Wells, septics, just the facts gathered to know what we have here, are selling.
And then trotting into the registry of deeds for the legal description, a survey copy if there is one. If the seller can not provide the paperwork that is a must to know what we are evaluating, marketing, going to peddle. Hopefully.
And like a diamond, before knowing what the heck it is worth in today’s Maine real estate market there needs to be examination.
The property on the Maine lake needs a turn your head and cough physical.
Wading in up to our waist in snow, because often we look at Maine property in the dead of winter to gear up for spring.
To hit the floor running when spring / summer arrives. Although lakefront property listings in Maine sell year round. Never enough to meet the demand.
So keys arrive or a neighbor is rounded up. Or the plumber that drains the place, the heating oil delivery folks that service the furnace if there is one are hunted down. For the keys to open sesame the Maine waterfront property.
To get inside after looking, walking around the lot to find the survey corner posts. Do some measuring of the lot, frontage, the structures on it. Taking careful real estate notes on type, condition, age of roof, siding, windows. And inside dimensions are measured. Room by room the what do we have here, and here too are one by one duely noted.
After taking a full gallery of shots from every angle, the shooting real estate video loops to edit and stitch together is next.
For the slice and dice for a show and tell walking tour. So the world outside can see the place anytime they want no matter what the hour.
On the ride back to the office the what’s it worth is chewed on, mulled over.
With time spent in front of the office computer screen.
Looking up information on the MLS SOLDS and listing comps, the places like it for sale currently in the area.
All are mentally examined, all the data physically rounded up.
Then the discussion with Mom about her Maine lake property who lives half the year as a snow bird out of state.
She is thinking the logic of the valuation and examples make sense. If owner financing happens this higher price can be justified discussed. She is not so sure about tha carry a notet. Let me think about it first she suggests.
The paperwork is generated and emailed, faxed, mailed. And then delay. Follow up calls, dead air happens. But then out of the blue, without warning a call from the one brother who gave me the keys happens.
The guy who indicated the hidden, secret location to seek out the keys to the place. To lock up, secure and protect like we do through out the listing until the real estate closing happens.
He is in tune with the discussion with Mom because the emails are CC’d to him too. His email was the only extra one given when asked who else to loop in with the communication back and forth in the family. Not our first real estate rodeo.
But one more call has to happen after we do all the leg work to get the place on the market. The other brother Daryl who is madder than a wet hen reaches through the phone to wring my neck.
Because Mom is selling the place and he thinks she should not.
She did not discuss the decision to get it on the market to sell it with him.
And then on top of that figure his mother is selling for, or at least the marketing number we start out with for the giddy up go.
Hope to finish with to get to a Maine real estate closing is all wrong.
What are you stupid he asks? You idiot. Whoa. I am in a hornet’s nest, blindsided in a box canyon. And wave the white flag. Just here to help, guide, develop the list of what to expect in this list, market, sell. Don’t shoot the real estate messenger.
He sounds red faced. Like high blood pressure is building, a cardiac is going to happen on the other end of the line.
Suddenly, this Maine real estate broker here to help is the enemy. On a bunch of counts. Because Mom is selling at all. The lake place supposed to be left to him when she stops breathing he snarls. Ticked too due to the figure he thinks should be tripled because we’re giving the place away around that fair market, realistic value number.
And due to some late night camp fire discussions with a few beers in his system with a neighbor years ago. Who matter of factly says the place was well worth all of blank blank blank number of zero places.
He would not sell his place (that’s not half as nice as Mom’s shouts junior) for less than some number so high he won’t have to worry of that ever happening in his life time.
Like a doctor, lawyer whose client does not like the situation he or she is in. Or the professional seat across from them either.
So you wish the family well, be pleasant, professional. Did not mean to stumble into, cause a feud and show the son with Mom’s permission why the valuation, the market approach is what it is. But get a second, third or more opinion. If we don’t click.
I can not help them meet their expectations and in a year, I am an even bigger jerk. Fired. For doing nothing. Out of here. Next.
Have never told a seller pie in the sky listing prices to get, “buy” a listing. And then turned around unethically and told buyers this seller must be off their meds.
Crazy, mentally ill twisted thinking the place is worth whatever is on the purchase price line of the MLS print out. Folks, people, start making some down to Earth offers buyers. To help the seller see the light. Ease, come back down to Earth.
The value in today’s market for real estate, with aggressive marketing will sell.
Over priced property develops mold, does not sell. And shelf life happens to make the audience wonder what is wrong with the property. That has been on the market through three real estate agents in Maine, brokerage firms. With the same out of whack price follow the changing of the flag, agency sign colors.
All to try to satisfy the one son hold out. For the over the top value he expects Mom to get for the place on the lake in Maine. Telling everyone he is negotiable, highly motived to sell. No, he is not. That over priced figure stays on the property and logic, common sense is thrown away. Actions louder than words.
But what can happen in time is a scenario of three situations. One, the waterfront property in Maine is eventually listed for the real value in the current market, advertised properly and sold.
Two, the place eventually gets listed when everyone gets desperate, dies. Or younger family members need the money. Selling for less than the real value. After dumping money into property taxes, insurance, road association fees, maintenance and costly repair updates.
Going from way too high to way too low in a real estate see saw pendullum limbo swing.
Or three, it gets listed in red rover red rover send a new real estate listing agent over.
The one who does not explain the value of what to expect but simply asks what do you want for the place?
What do you think the waterfront property in Maine on the lake is worth folks that own it? Rut rho. Telling someone what they may want to hear is not going to get closing results.
Upset, hard feelings, raw emotions and a little history of other difficult drama between each other family members spills out like a deadly toxin.
The not ready to sell but that would only if… The listed price is way way higher than the property on the Maine lake could ever hope to transfer for, is nowhere near the actual value of the real estate listing.
207.532.6573 | [email protected] | MOOERS REALTY 69 North St Houlton ME 04730