Communication is key between Home Sellers and Realtors – we must work as a team

Communication is key between Home Sellers and Realtors – we must work as a team.

I was pulling my hair out trying to communicate with a home seller who lives out-of-state. He is a referral via Social Media and we spoke on the phone at length in December 2009. At that time, I explained my marketing strategy, listing services and stressed how important it was to get his home “move in ready” and on the market while the first-time homebuyers were shopping prior to the April 30th deadline.

His options, I explained, were to sell his vacant home in its current condition for $75,000 OR spend $7,500 painting, putting in new carpet, installing new fixtures and selling for $90,000 to $95,000.

I met a locksmith at his property as he’d lost his key. I had a contractor give me a bid for the rehab work. I sent a roofer by to give him a quote.

Time drug on – no listing paperwork signed. He sent someone by to give him another quote on fixing the home up, which was fine. More time passed. We missed the April 30th deadline where we would likely have picked up a 1st-time home buyer, and his property still sits vacant.

He decided  in May that he wanted to sell “as is” for the same price suggested for the “move-in ready” model. Despite my comps and knowledge of our market, we simply could not communicate and agree on price or selling strategy.

Communication is key between Home Sellers and Realtors – we must work as a team.

The home Buyers in my market have a huge inventory of homes from which to choose. If the photos on the internet are not attractive, it is unlikely that a Buyer will consider that home unless it is priced dirt cheap. If the home is not “move in ready,” the Buyers will walk three doors down and select one that is.

The vendors I suggested to this prospective Seller are ones that could have waited to be paid out of his selling proceeds. His 20 year-old roof would have to be replaced regardless, and that is often paid out of closing proceeds. I offered to coordinate all of the work.

Several weeks ago, a neighbor called (she got my phone number from one of the contractors who went by to give a bid) to complain about the overgrown lawn. I asked this kind lady to find a neighborhood kid to take care of the lawn and I promised she would be reimbursed. She promptly e-mailed a quote to me and the Seller — to which the Seller replied, “send me a bill if you deem that necessary.” Now, the neighbor is not responding to the Seller’s e-mails and he can’t understand why. His response should have been, “thank you – to what address shall I mail a check?”

I decided it was time for me to cut my losses on this possible transaction and move on. If I can’t communicate to a home seller what are his obligations and my obligations, I can’t imagine communicating well enough to negotiate a contract. It’s so important the we work as a team, and for that to happen, communication is key.

Lori is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa area, and specializing in midtown Tulsa real estate. Please visit Lori’s web site, LoriCain.com or call 918-852-5036.