Selling below market! as an SRES professional Q&A

Selling Below Market

Experienced real estate professionals advise caution when asked to list a home at a below-market price. Why does this happen?

Consider these circumstances:

  • The seller accepts a below-market offer in order to sell the home to a relative and other family members question the deal.
  • A high-value home is priced low for quick sale and the heirs question the deal.
  • The seller says, “This is how much I want. I just want a quick sale.”

What should the real estate professional do? Write a letter to the client stating that the property is listed below market value. Prepare a CMA showing the current value and ask the seller and buyer to sign it in order to acknowledge the below-market price or offer. Keep all the documentation justifying the price. Market the property as a “best value in the community.” I personally focus on the best value for my customers and the community and my sales history is a positive statement of this!

It’s always important for me to provide inexpensive tips to support value and allow my sellers and buyers to weigh the pro’s & con’s on every transaction! Ask your Realtor if they are a certified SRES

Conflicts of Interest
Real estate professionals who specialize in the 50+ market often develop close relationships with their elder clients. But a real estate professional should not become a trustee, guardian, or conservator for a client without first consulting an attorney. Despite good intentions, the situation can be fraught with potential conflicts of interest and family members may accuse them of taking advantage of their elderly relatives.
Ref;  National Association of Realtors “Senior Real Estate Specialist” certification!

 

Author: danswingblog

Dan has celebrated over 19 years as a full-time Realtor. Successfully listed and sold homes well through the 8 figure market. Advises and assists clients with challenging Portfolios! Not uncommon to be working with foreign nationals, buyers that leverage the Sterling, Euro, and similar currency. Dan welcomes the Global community, with friends in many Nations. He brings a reputation for Integrity, Expertise, and Focus. Our customers deserve the best. Currently provides Residential and Commercial B.P.O.'s, Broker Price Opinions, B.O.V's, Broker Opinion of Value to many lenders. Manage and Sells R.E.O., Real Estate Owned properties, distressed properties! Evaluate and negotiate solutions for sellers and lenders. Developed, operated and sold a Florida "AWARD WINNING" Ad Agency! 2010 & 11 Commercial Agent of the year. RE/MAX Paramount Properties. Relocated to Tampa in 2012, enjoyed retirement for 6 months. Saw unethical practices by some Realtors and choose to reverberate our profession in the Tampa area. In four years built his business to as many as four (4) transactions monthly. Mortgage brokers were calling Dan a Superstar in Real Estate. Dan and his wife relocated to North East Florida, to the community of Nocatee. Currently focusing on 55 and older communities and Luxury Real Estate. Successfully closed on many extremely challenging foreclosures, and Short Sale. Coached and participated in Commercial and Multi-Income Family REO's in the past six years. Elected to the Auburndale City Commission in 1986-88. Created and served as 1st Redevelopment Chair in 1988 & 89 personally put in place all the elements for the Auburndale CRA. 1990 City Commission refused to give a full vote of confidence. After a 5 year journey to personally raise funding, extensive research and study for the CRA district perimeters, and stunned with the Commissions doubt. Positioned himself to run for office again, was re-elected to Auburndale Commission, to serve 1991-93 to full fill the CRA master plan! Active with the Central Florida Development Council from conception in 1985 and sat on the board periodically for the past 25 years representing municipalities and private investors. The positions Dan held from 1986 through 1993 enabled him to have a complete workable understanding of the State of Florida Comprehensive Plan for Future Land Use, and the benefits of intergovernmental agreements, utility franchise expansions, and public/private partnerships! Specialties: Assets recovery & receivership, Real Estate Portfolio's, REO & Short Sale of Residential and Commercial negotiations, marketing consultant, public relations, and Broker Price Opinions for residential and commercial lenders.

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