Margaret Rome's Blog

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It's Not Always About The Money

What do sellers want?

Sellers always want top dollar for their house.

That is not always the case!

 

 Money

 

Just like houses come in different sizes, styles, and uniqueness, so do sellers. It is most important to find out just what the seller wants and needs.

 

Here are a few examples.


 

-The seller retiring, because of illness.  It was in July. He gave me his bottom line, he wanted it listed much lower than the comps, a fast settlement so he could be fishing in upstate New York this same summer. 

fishing

 

 


 

 

-The sellers who have lived, for over 50 years on 34 acres,  in a home built in 1812 and meticulously maintained.  These sellers were looking for the right buyers who would take care of the land and lovingly maintain this special home. They had time to wait.

 

 


 

 

-The man who just lost his wife and did not want to go back to the house again. When he called and shared this...I suggested he wait a while to sell. He shot back with: 'Lady if you don't want to sell my house, I will find someone who does.'  What he wanted was someone to bring love back into the house. We found the perfect first-time buyers, recently married and blissfully in love. This is who the seller wanted in his home and even gave them a break in price.

 


 

-A seller who was a world traveler announced he was going to get a new agent because he wanted a fast sale. I told him I could sell in two weeks but we needed a $50,000 price drop. He said to do it. We had competing offers and a sale that first week. Obviously, money was not his main concern! 

 


 

-The older couple, original owners for many years, who could no longer manage their house. Deferred maintenance and in disrepair,  they were overwhelmed with getting the home in selling condition.  We found out their bottom line could allow this. Found an investor who bought AS IS, allowing the seller to take anything they wanted from the house, leave everything else and gave them time to find a new place. The sellers did not need to fix anything, they did not need to declutter and did not need movers or a cleaning crew.

We removed the stress, no showings, and no open houses. We got more than their bottom line.


  

As a listing agent...make sure you know what your seller wants and needs.

It's not always about the money!

 

 

Margaret Rome 

 

 

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Broker-Owner HomeRome Realty 

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410.530.2400

 

 
Comment balloon 51 commentsMargaret Rome Baltimore 410-530-2400 • December 10 2019 01:17AM

Comments

Morning Margaret.

I've seen that also.  I know for me should something happen to my wife, I doubt if I would ever set foot in our current home. It would be on the market in a week.  It won't be about the mone but the memories

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) 4 months ago

Good morning, Margaret Rome, Baltimore Maryland with many homeowners, it's not always about the money..... it's often a timeframe and a clean deal.... whatever the reason, you can satisfy all of the requirements....

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) 4 months ago

Hello Margaret - so true.  When we connect with people and truly listen to them we understand "motivation".  As you stated, everyone is different and your personal insight and knowledge allows uniqueness to be properly showcased.  People and property.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 4 months ago

Good morning Margaret. Sometimes its the emotions and not the money that leads to a successful sale. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 4 months ago

I know most real estate professionals believe it isn't usually beneficial for buyers and sellers to meet during a house showing.  However, I once worked with a young married couple with a new born baby, who were looking to buy their first home.  And, while showing my buyers houses, the sellers of one home happened to remain present. They were an older couple, who had lived in the home for almost 40 years.  For one reason or another, they took delight in my buyers, and ended up selling the home at a good price to my buyers.  They even carried back a small second.  We just never know.  And, you are right. It isn't always about the money!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

What a beautiful blog this is. Agreed it is not always about the money. There is so much more to real estate than the money. Thankful for so much love that can go along with each sale. Some sorrow as well one is moving on to another season of life. Have a blessed day. 

Posted by Laura Filip, What can we do for you today? (Laura Filip Broker , Opening doors for All Seasons of Life ) 4 months ago

Margaret- well said. Like so many other things in life, it's not always about the money. Some sellers want to limit the amount of time that they have to keep their home in "model home" condition. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 4 months ago

Great examples, Margaret - some things are more important than money - in fact, an awful lot of things are : )

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) 4 months ago

Margaret:

I'm so glad to see this featured! There are many buyers who think price is the only issue to worry about and so often that is not the case. Finding out what IS important to the seller...as the listing agent OR when a buyer agent has an interested and qualifed buyer...is key. It's NOT just about price in many instances, and you gave some excellent examples.

Jeff

 

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California) 4 months ago

Years ago I had a listing that was an estate sale. I forget the numbers now, but I listed it at what I believed was fair market value and a local resident offered far less. The sellers - sisters who had grown up in the house - said "OK. We like Tony, so we'll take it." I was amazed...

Posted by Marte Cliff, Your real estate writer (Marte Cliff Copywriting) 4 months ago

Thanks for post.  And while this is focused on real estate; there are many things in life that are not always about money.  It is really the individual and we have to learn that.  There are many people who money is very much down the list of priorities in life.  One does not need money in life to be happy.

Posted by Robin Wells, Giving Peace Of Mind One Chimney At A Time ( RAW Chimney Sweep and Inspections) 4 months ago

I'm with you Margaret, it isn't always about the money. It's important we understand the seller's motives.

Posted by Carla Freund, Carolina Life RealEstate & Relocation 919-602-8489 (Keller Williams Preferred Realty) 4 months ago

Very well said Margaret!  Listening to your sellers is key.

Posted by Gordon Crawford, Your Morris County Specialist! (Gordon Crawford Home Selling Team) 4 months ago

Well said Margaret. I think knowing sellers and buyers motivation is critical to every transaction 

Posted by Tom Bailey (Margaret Rudd & Associates Inc.) 4 months ago

I agree, it is not always about the money. Your examples point that out!

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) 4 months ago

Hi Margaret Rome, Baltimore Maryland ,

It's like a puzzle you have to figure out how the pieces fit. Asking the right questions and understanding the sellers motives will help establish the marketing, list price and obtaining the right buyer in the time frame the sellers want to work within.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) 4 months ago

So true Margaret! Some sellers just want to make the money back they put into it, or move on as quickly as possible. Others are much more concerned with finding the right new owner, the perfect one who will love their home just as much as they did.... especially if it's been a home for many years/decades and holds a ton of special memories. In that case, it makes me super happy, too, when we get to the closing table and see the buyers who are so excited and can't wait to move in, when sellers and buyers trade stories filled with memories and hopes for the future.

Those are the happiest of closing days! 

Posted by Andrea Bedard, M.A.; REALTOR® Silver Spring, MD and beyond (Thompson Company, REALTORS®) 4 months ago

Beautiful post that gets to the heart of the matter Margaret. Some people's motivations are selfless, especially when life matters point the direction!

Posted by Wanda Kubat-Nerdin - Wanda Can!, So Utah Residential, Referral & Relocation REALTOR (Red Rock Real Estate) 4 months ago

These are great things to keep in mind. Thank you for sharing.

Posted by Lisa Weiler, Interior Design Expert & Home Stager (PM LLC) 4 months ago

Beautiful comment Wanda Kubat-Nerdin - Wanda Can! 

 

 'Some people's motivations are selfless, especially when life matters point the direction!'

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Excellent post Margaret Rome, Baltimore Maryland ... so true.  Every seller has a bottom line and a reason for their season of selling and it is our job to ascertain that information so that we can act accordingly. You did a fine job of giving some great examples. I will remember to first the WHY to selling so I can consult and offer a professional response and price.

Posted by Diana Dahlberg, Real Estate in Kenosha, WI since 1994 262-308-3563 (1 Month Realty) 4 months ago

Margaret you are great at asking questions - that's the way to get the job done and make everyone happy.  How many times have the buyers and sellers actually met each other?  In looking back I can think of one time in twenty years! So many people think that a Realtor has to be tough and ready for a fight with the buyer, or as a listing agent, firm and make it difficult sometimes to actually view the home.  I try to establish a conversation with the listing agent when representing a buyer, so that the buyer is a real person and just not a signer on a purchase offer! Oh this is a great idea for a blog!

Posted by Susan McCall, Loving the Northwest, Listing and Buyer's Agent (Compass Realty Solutions) 4 months ago

There are far more important things in life than money. There are many circumstances in which a home needs to be sold.  You spotlighted a few. Great Post.

Posted by Rose Mary Justice, Synergy Realty Pros (Synergy Realty Pros) 4 months ago

Listening is so simple, yet ignored too often. Listen to what your clients want.

Posted by Adam Feinberg, NYC Condo, Co-op, and Townhouse specialist (ANCHOR ASSOCIATES) 4 months ago

Diana Dahlberg And an excellent response. Without those answers...it is almost impossible to know how to help our clients.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Susan McCall, Independent Listing and Buyer Agent  Yes this is so true and I would love to see you write a blog on this topic.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Thank you Rose Mary Justice  and good to see you!

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Adam Feinberg It is so easy to help but only after you know what they need.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Good morning Margaret, great post. Every seller has a different motivation behind why they are selling. It's critical to find out why as it will determine how you price and market the home. Have a great day!

Posted by Matthew Klinowski, PA, Golf Community Real Estate Specialist (Downing-Frye) 4 months ago

Yes, it isn't all about the money. A colleague shared last night a seller learned the $400,000 plus offer on her home was cancelled. Her reaction was one of joy because she didn't feel the buyers were the right buyers for her home. Thanks for sharing your examples.

Posted by Leanne Smith, Relocation to NW AZ with elbow room & more freedom (Dirt Road Real Estate) 4 months ago

Great advice.  Clients do sell for lots of reasons.  Knowing that can give some buyers an edge.  

Posted by Raymond Henson, SRES, GRI, Realtor (eXp Realty of California, Inc. (lic. #01878277)) 4 months ago

Listening to what the seller wants and needs is a skill that takes time to learn. Some never learn, easy to get caught in the frenzy of money! You showed some excellent examples Margaret Rome, Baltimore Maryland, kudos!

Posted by Eva B. Liland Century 21 Doug Anderson, Glad to be of Service 661-714-1643 (Century 21 Doug Anderson) 4 months ago

Matthew Klinowski, PA Good to see you. And every seller has the motivation and we need to identify it.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Leanne Smith   Thanks for stopping by.

We never know how our clients will react. I bet your colleague was surprised.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Raymond Henson Good to see you. It is important to know what our client's motivation is. It helps us to help them.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Eva B. Liland Century 21 Doug Anderson  Always good to read your comment.

'Listening to what the seller wants and needs is a skill that takes time to learn'

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Well done! You just never know. Every person has a story and it is not our place to guess what is best for the Seller. The Seller knows. We just have to listen.

Posted by Cheryl Ritchie, Southern Maryland 301-980-7566 (RE/MAX Leading Edge www.GoldenResults.com) 4 months ago

Cheryl Ritchie  Welcome back. So good to see you in the Rain. 

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Excellent stories that it is not always about the price being the motivation.

Posted by Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 4 months ago

Thanks and good to see you

 Nick Vandekar, 610-203-4543  No it is not always about the green stuff.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Sometimes you have to dig a little and find out the true wants and needs but often with older couples--it's just sell the property. The more the agent can help out the better

Posted by Mary Hutchison, SRES, ABR, Experienced Agent in Kansas City Metro area (Better Homes and Gardens Real Estate-Kansas City Homes) 4 months ago

Excellent story.  Everyone has a good reason to sell.  Well, mostly good!  Thanks for these real-life narratives!

Posted by John Henry, Florida Architect, Residential Architect, Luxury Custom Home Design (John Henry Masterworks Design International, Inc.) 4 months ago

Mary Hutchison, SRES, ABR We, as agents, can really make the move a bit easier. Listen and act accordingly.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

John Henry, Florida Architect As an architect, you have to ask more questions when designing...for sure.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

I learned early in my career that it's not always about the money. Even the house that I currently live in, the owner sold to us at a discount because they had lived here for 60 years and they knew we'd take good care of it. 

Posted by Mimi Foster, Voted Colorado Springs Best Realtor (Falcon Property Solutions) 4 months ago

This is so true.  That's why I encourage buyers to write a love letter to the sellers if it seems like an appropriate thing to do.

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) 4 months ago

Mimi Foster Love the reason the seller sold you the house. They found the right buyer! It, again, was not about money.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Georgie Hunter R(S) 58089 On limited cases it works. Our attorneys are discouraging this practice.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

So true.  Listening and asking the right questions can uncover a seller's real motivation. One of my questions has been moved up on the priority list here in Phoenix.  Because 6% of our sales are to I-buyer companies, I now ask "How fast do you want to sell" much earlier than I used to. We are competing with those companies buying homes directly from sellers. If I include that in my listing presentation, I'm much more likely to keep them as clients!

Posted by Jan Green, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN (Value Added Service, 602-620-2699) 3 months ago

Jan Green The more questions that we get answered...the more prepared we can be in helping our clients. How fast do you want to sell? is another good question.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 3 months ago

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