I was at a dinner party last night and it was more like a listing presentation with a couple of Realtors at the table with myself and the prospect. He had purchased a house before the 2008 crash and paid about what he can get for the house now. This man has built and sold many companies and is very well off.
His issue was that he knows the market may not have caught up with him, but he has other plans, he wants to travel to Europe, he wants to sell his current company and be free to fly with his girlfriend. He is ready to cut ties with the old and move on....
But to a man who has never lost anything, and always fought to succeed, it is tough to accept that you may lose money on a deal. A few dollars is one thing, but hundreds of thousands is another. Will he live to fight another day, sure thing, but he wants to sell, on his terms and this is getting in the way of a bigger picture.
Most of the luxury properties in the USA, are marketed in higher end publications. Buyers from overseas are a good bet for these types of properties, and the marketing is always changing, the sooner he can commit, the sooner the Realtor can get the information about the property in the MLS and these higher end sources.
But it is hard to push someone who is not in the habit of losing money. So you have to be patient, work with him to show the positives of selling and moving on and drive home those options. It is sales and overcoming the objections of the prospect.
Thank goodness I have a great Realtor!
Jack
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