What's My Franklin TN Home Worth?

I Can Decline Your Listing!

I Can Decline Your Listing!

I met with a Franklin TN home seller on Friday. Her home had recently expired and she called me to list her property. I am very thorough when preparing my Competitive Market Analysis. Not only do I run the comparable active listings but I also check the recently closed sales and even expired listings. I want to know what has sold and what has not.

I Can Decline Your ListingThen I preview approximately five active listings in the neighborhood. If possible, I inspect homes with the same floor plan. If one isn't on the market, then I preview homes of a similar size and amenities in the neighborhood.

While I know this neighborhood very well, I wanted to be able to tell the seller I had recently been in the homes that would be competing with her home.

Since this is a large neighborhood with the same model currently for sale, I was able to very accurately price this home. I even contacted the on-site agent selling new construction in this neighborhood. The builder had discontinued building this model and I just wanted to confirm their reasons for doing so.

As I suspected, the floor plan wasn't very desirable. It had 3,200 square feet with a nice open floor plan but it only had three bedrooms. It seems that everyone wants four bedrooms now--no surprise there.

Equipped with my CMA in hand, I met with the seller to discuss the sale of her home. Having already spent considerable time on the phone with the seller, I sat down to discuss the results of my analysis. It was easy to see why her home hadn't sold. It had been previously priced about $50,000 higher than it should have been.

As I discussed my findings, it was clear that the seller was not prepared to price her home to sell. She tried to tell me that I was going about this all wrong. You see, her previous agent told her to take the price she paid, add the REALTOR's commission and then her desired profit to get the listing price. I informed her that her previous agent was incorrect and that was not the way to price a home.

I Can Decline Your ListingShe tried to go on and on about all the features her home had that others did not have to justify her asking price. Since I had just been in the other homes the day before, I knew her home had no additional features to justify her price. And because the floor plan was a less desirable plan, the best thing to do was price it less than her current competition.

After showing her all the recent comparable homes and even showing her photos of these homes with my iPad, it was clear she was not going to price the home right. I apologized for taking up her time and said there really wasn't anything further to discuss. 

She was shocked. She had never heard of an agent turning down a listing. That's crazy. Who does that kind of thing? I do.

You see, Mrs. Seller, I spend a lot of time and money to market your home. If you're not going to price it right, then it is a total waste of my time and my marketing dollars to try and sell it. All the marketing in the world will not sell a home that is not priced right. I'm not in the habit of taking listings that won't sell.

If you agree to price the home to reflect the current market value, then we can do business. Otherwise, there is nothing in the Code of Ethics that dictates that I must take your listing. Mrs. Seller, I can decline your listing

If you are currently looking to sell your Franklin TN home and want to meet with an agent who will prepare a very thorough Competitive Market Analysis, then call Franklin Homes Realty LLC at (615) 495-0752. However, if you're not prepared to price your home correctly, then it's important for you to know I can decline your listing.

Tammie White, Managing Broker/Owner
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Comment balloon 175 commentsTammie White • November 14 2011 12:46AM
I Can Decline Your Listing!
share
I Can Decline Your Listing! I met with a Franklin TN home seller on Friday. Her home had recently expired and she called me to list her property. I am very thorough when preparing my Competitive Market Analysis. Not only do I run the comparable… more
Franklin TN Neighborhoods: New Construction Homes
share
Franklin TN Neighborhoods: New Construction Homes This is the second installment about Franklin TN neighborhoods. You've decided to move to Franklin TN but there are so many neighborhoods it's hard to know where to begin. Let me start by saying it… more
I'm More Interested in Saving My Clients Money Than Upping My…
share
This morning I read a post that suggested agents are more interested in receiving a larger commission than they are in negotiating the best price. First, I would like to state that rebating buyer's commissions is illegal in the state of Tennessee… more
St. Jude's Dream Home Giveaway in Franklin TN
share
The winner of the St. Jude's Dream Home Giveaway in Franklin TN will be announced on Fox-TV Sunday, June 26. It's not too late to buy your $100 chance to win this home built by Southern Land Company. The home is located in the Westhaven neighborhood… more
Westhaven School Re-Zoning | Franklin TN Homes for Sale
share
Westhaven School Re-Zoning | Franklin TN Homes for Sale Beginning in August of 2011, the neighborhood of Westhaven in Franklin TN has been re-zoned from Grassland Middle School to Hillsboro Middle in Leipers Fork and from Franklin High School to… more
Buyers Need To Be Represented When Purchasing New Construction Homes
share
Buyers Need to be Represented When Purchasing New Construction Homes Yesterday, I received an email from a buyer. He just wanted to let me know that they would no longer need my services. He and his wife had bought a new construction home in… more
What is Absorption Rate and Why is it Important?
share
A question I often get asked? What is Absorption Rate and why is it important? The simplest definition of absorption rate is the rate at which properties are sold in a given area. For example, there are currently 845 single-family homes for sale in… more
Leipers Fork Country Home in Franklin TN
share
This Leipers Fork Country Home in Franklin TN located at 5418 Old Hwy 96 in the historic Village of Leipers Fork has a storybook setting. The house actually reminds you of something right out of Snow White and the Seven Dwarfs. As you wander up the… more
Visit the Franklin Farmer's Market in Franklin TN
share
Visit the Franklin Farmer's Market in Franklin TN I love Saturday mornings in historic Franklin TN A great way to start the weekend is to head over to the Franklin Farmers Market located in the rear parking lot of the Factory shopping mall I… more
LaurelBrooke Homes for Sale in Franklin TN
share
Laurelbrooke Homes for Sale in Franklin TN LaurelBrooke homes for sale in Franklin TN is a private, gated community with close to 600 acres of gently-rolling wooded hills and over 200 acres of forest. It has two conveniently located entrances,… more