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Perspective: “I can sell your home in 4.5 years!”

Blog Post: "Perspective - I can sell your home in 4.5 years!"

Written by Eric Munger, premier listing agent for The Munger Team.


This year to date I have sold homes in an average of just 47 days on the market. I have worked hard for those results, but I want to talk about one recent sale this year that was just a LITTLE (okay alot) different than that.

 

Image of host and contestant on Name That Tune television game show.
Name That Tune. Image borrowed from C21Media.net.

It makes me think of a game show that came out in the 70’s, and again in the 80’s, called Name That Tune.

In the show contestants had to make a wager on how few notes they thought they could hear of a song and be able to guess the song based on just those few notes. The two contestants would go back and forth with “Margaret, I can name that tune in 6 notes,” and her response, “Tom, I can name that tune in 5 notes,” and so on, until at some point a contestant would wager such a low number of notes that the other contestant would shake their head and say, “Margaret/Tom, you name that tune!”

 

Sometimes I believe real estate agents are like this. Let me explain:

Clients often ask, “So how quickly can you sell my home?” Usually they are interviewing multiple agents asking this question. We become those game show contestants when this timeline question is asked. I can hear the game show sounds in the background and an agent answering: “Johnny, I can sell your home in 30 days!”

I imagine that answer sounds a whole lot better to a client than another agent who said: “Johnny, I can sell your home in 90 days!”

As agents, its understandable (and even necessary) that we share our successes, our statistics, and be confident in our ability to sell. We tell clients all the reasons they should work with us. In fact, clients also ask that of us: “Why should I work with you?” But we should be real in our answers, drop any facade that we have this all mapped out and figured out, or any illusion that we know with certainty when their home will sell.

A couple years ago I sold a home that had previously been on the market with another agent. The seller told me the previous agent had emphatically guaranteed they would sell the home in 30 days. As you can imagine, when that didn’t happen the guarantee fell flat on its face – 6 months later when the home still wasn’t sold, the client chose to no longer work with that agent.

 

This brings me to the title of this blog: “I can sell your home in 4.5 years!”

I just recently closed a transaction in which the seller had stuck with me (and I with them) for over 4 years. There were a lot of factors that led to the length of time, and this anomaly was well outside my norm (see my average listed at the start of this post) for what I sell. This home had some pricing issues based on what was owed by seller, and it had functional and cosmetic repair issues. We had also received several offers during those 4 years, and had even been under contract before; but due to those price constraints on the sellers part and the needed repairs, it took some time to finally accomplish the sale.

What it comes down to is that we, as agents, should be quite transparent with clients that we cannot ultimately control timing of a sale – to claim we can would be foolish and false.

Even saying statistically I sell homes in an average of 47 days means that some have sold in 3 days and others have sold in 3 months. Timing varies. There are so many market factors that influence the timing. As agents, we interpret data and trends. We should know the average selling time of homes in the area. But we don’t have a crystal ball to foretell the definite date of a sale.

What I do have is my follow-up, tenacity, and dogged determination to pursue any and every buyer. I have experience, knowledge and marketing know-how. I have tools, resources, systems and processes that get the job done. But in the end it was determination, some plain hard work, and finally the right timing, that stuck it out through those 4.5 years and got it done for this client. A big “Thank You!” to them, because they stuck through it with me.

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Why Real Estate?

Blog Post: "Why Real Estate?" by Eric Munger

Written by Eric Munger, Founder of Realty One Triad


Occasionally I may ask myself, why in the world did I get into real estate? This thought will especially run through my head after a transaction falls apart that I’ve spent countless hours on, or after a particularly difficult call with a client or another agent.

So there it is. The question. Why oh why did I choose to spend my life and career in this prison known as real estate?

Okay, I’m kidding – it’s not a prison. It’s more like being chained to your phone than being chained to the job. Just kidding around again! (Somewhat.) Yes, the phone is never far from reach; but whose phone is far from reach anymore in our technology crazed society?

The truth is that I love what I do. As with any job you have those mornings you wake up and you’d rather roll back over and sleep for another hour than head into the office or start making calls. But frankly, 29 days out of 30 I wake up excited to get to work.

Why?

Paper house with cut-out paper family being held by child and parents.It’s the people. It’s not the paperwork. It’s not the next sale. It’s not the marketing. It’s not even the coffee waiting at the office. The people drive me and push me to do more and to do better, to succeed and to thrive.

It’s the fellow agents I work with here at Realty One – what an awesome team we have! I love the interaction with them, the conversations, the laughter, even sharing the ache and pain with them of a family member that’s hurting or of a lost loved one. I thrive on seeing the excitement that lights up their face when they close their first deal, or their 100th. I thrive in the sharing of amusing and interesting stories of the transactions, the situations and the people we help.

And it’s the clients. It’s the homeowner that I just helped avoid foreclosure with the sale of their home. It’s the homeowner that had been trying to sell for 15 years (quite literally) before I helped them sell.

As I think back over the 500+ homes I’ve sold, it’s the memorable situations, transactions, and people that come to mind. It’s helping people move forward in their lives and the satisfaction which comes from that.

What a great job to have, what a great career! More than a job, it’s practically a lifestyle. I breathe, drink and eat real estate. But in the end it’s not for the job’s sake itself, but for the people that are involved. For the people in whose life I can make a difference. For the joys and the sorrows, the highs and the lows that we all share. Our homes: the places we live and entertain and have community with one another – they’re such an integral part of the story of our lives. I’m glad to share in that with people.

The people. For me, that’s why real estate.