One of the dilemmas of my customers considering selling their homes is when to put their home on the market. Many sellers want to wait until the market comes back. This is when I hear Paul McCartney’s song “The long and winding road” in my head. Realistically, this is not going to be overnight and will likely take many years to recover from this last “adjustment.”

Because profit today for sellers over what they owe can be very illusive, I now see my job as “minimizing losses.” Although this may have negative connotations for some, others actually are inspired more by this term as they see an end to the listing road and freedom to begin a new life.

The phrase “minimize losses” especially is directed at the starting price for the listing. The prime time for finding a Buyer is the first couple weeks of a listing and having it priced to attract the Buyers is critical. Showing my customers their competition, even if that means visiting these homes, is a must to chip away at the perceived value of their home. It does not make them feel any better about the reduced value, but it allows them to rationalize the marketplace in their minds.

I guess for those patronizing the craps table at your favorite casino, you could equate “Maximizing Profit” and “Minimizing Losses” with the “Pass” and “Don’t Pass” bets. One is considered a positive bet and the other a negative bet although the odds are virtually the same. However, I think for real estate the rolls of these two phases has reversed and I look at the term “Minimizing Losses” as the positive.

Mary Beth and I will do our best to minimize your loss and help you move on with your life. Please contact us through our website for a kitchen table meeting of your options.

Posted by:  Frank Wright