Do Not Cut off your Nose to Spite Your Face!

I had a client some time back who, like all Sellers, saw his home as the best in the neighborhood, and wanted TOP dollar for it. Since I was the Agent of note in the development he wanted me to handle it and get him his price. They were building a new home in the mountains with a completion date of about 60 days out. I took the listing with the qualification of a price reduction built in if we had no offers in 30 days.

Three weeks into the contract we had an offer that was very near what I had expected. These were 1031 exchange Buyers and they had to make a decision in the next two days to qualify.

I knew the agent representing the Buyers and she told me up front that my listing was their first choice and that they had another $10,000 and that was it. If not they would move on to choice #2. My Sellers felt they would be “giving the house away” and when I told them the market was turning and they should take it “I just wanted a fast sale.” Keep in mind they approached me to list there property based on my reputation.

They turned down the offer. In another week we lowered the price. No more offers. They started to find fault with me then they wanted to drop the listing. They hired the agent that brought the original offer – fired her. They hired another well-known agent in the community and priced it even higher! It did not sell. They hired yet another agent and ended up firing him because they came home to find him charging his cell phone with their electricity after an open house. (Yes, you read it right.)

Today they are in bankruptcy and very bitter. The beautiful home is a scar on the face of the neighborhood not to mention on the owners credit report and future buying power.

Point: Listen to your agent, you hired them for a reason, and they know the market far better than you do. The biggest reason a house does not sell is because it is over-priced. Do not let your pride and or stubbornness become a scar on the face of your reputation, finances or for your neighborhood. No one wins with this approach!


For more information 1031 exchange or any question you may have contact me by clicking on the information on the right. I WILL NOT harass you for business. I hate that and so does everyone else.

No Gag Reflex

My first blog even though I have been doing the same thing for years calling it my “Real Estate Byte”. I work in the Coachella Valley of California most widely known as Palm Springs. Not all of my blogs will be related to the market. Some, like this one, will be about experiences I have had while working in this field humorous or otherwise. I promise they will be real and hopefully have a point.


After meeting my client for the first time we spent the afternoon looking at potential properties. The normal conversations took place me trying to qualify him and him trying to work me for a deal.

I enjoyed this guy and around 4 PM we were both hungry and I suggested we stop at a local Mexican restaurant and discuss the property we had looked at. We ordered a quesadilla and two margaritas. About ten minutes into our chat he suddenly stopped talking and his eyes got big. He grasp his throat and it was clear he was choking. I started to slap him on the back and decided the Heimlich was what needed to happen. The restaurant staff had started to gather and I was thinking the worst. Well the worst did not happen – instead he threw up in his plate.

Believe it or not we are still working on finding him that property but neither of us has suggested getting a bite to eat again.

The point – keep your first aid skills up-to-date. I am not too sure E and O insurance would cover death by Quesadilla and it is the worst way I can think of to loose a client!