The Wolves Attack
Yesterday morning started out like most normal days would... I got up... took a quick shower and then lumbered down there stairs to my office. I know today was going to be different; because I was going to DC today for a meeting with Microsoft and with a replacement realtor when my current contract runs out at the end of the month, but I didn't expect the turn of events that happened in the morning.
It all started at 8:31 AM, not a time I usually expect to get phone calls. It was some guy from REMAX, telling me that he had just received an alert that my contract had expired at midnight (8 hours 31 minutes ago), and was I ready to hire the agent who was going to sell my condo. A little shocked I actually agreed to meet with the guy because he was on the ball enough to call me before my realtor even bothered to notify me that the contract was up (which was supposed to happen at the 'end' of this month... I suppose it is close to the end of the month). I scrambled a little bit trying to find my contract copy, and bam, another call 8:58 AM. You've got to be kidding me... another REMAX agent asking if I was 'ready to hire the agent who was going to sell my condo'. A little annoying... After the wolves settled in for lunch I had already received 6 realtors calls. Between that and work phone calls I spent the entire morning on the phone while trying to get ready for the meeting with Microsoft. After a quick check I decided to add one other realtor to my interview list, so I had a intervies at 5pm, 6pm, and 7:30pm.
I run up to DC for the meeting, which lasted 3 hours *arg*. Surprisingly it was a good meeting, I was surprised as the last time we met on this topic they were still clueless that search was an important research area.
I spent from 5:10pm (The meeting ran late so I was late) until 9pm talking to the three realtors.
#1) A little inexperienced, brought too many comps (and comps without similar curb appeal), and didn't do a good job convincing me that he could "sell my condo in 30 days"
#2) A business friend of a friend of my brothers :) yeah... that's a lengthy intro. He was very laid back. Had lots of things that I should do to increase the curb appeal and the first impression. Which are all good things, but he admitted that most realtors are going to do the same kind of marketting and that one of the key factors to look in this market right now are people low-balling and trying to underbid you.
#3) The initial wolf of the morning. Very energetic like the first. Tired to convince me that it was possible to "sell it in 30 days"... apparently REMAX just sold a condo a few weeks ago that had been sitting on the market for 120 days before the person switched over to REMAX. One of his main selling points is that everything is coming directly out of his pocket. His office doesn't share expenses etc... so he's a highly motivated seller, as his own money goes into the listing expenses.
The long and the short of it... the market has continued to slide, and my former realtor didn't keep the price in check... so it obviously wasn't getting sold when someone could buy something of the same for 10 grand cheaper. And it is already at the point where I need to sell it at a price to break even. Any more and I'm at a loss which I can't pay for at the moment. #1 is out due to low experience, #2 is out because he's "in it for the long haul" because I can't do the "long haul" with price reductions, so #3 it is... if he thinks he can get it sold in 30 days then by all means take a crack at it... I don't honestly think he can do it... but if it isn't sold in 30 days the market will be below my break even point and I am stuck renting anyways... so I'm giving it to the guy who thinks he can do it. ... wish me luck :)
After that decision was made I cleaned up the condo a bit, and headed out of Reston around 11pm :( I'm getting too old for this crap.
It all started at 8:31 AM, not a time I usually expect to get phone calls. It was some guy from REMAX, telling me that he had just received an alert that my contract had expired at midnight (8 hours 31 minutes ago), and was I ready to hire the agent who was going to sell my condo. A little shocked I actually agreed to meet with the guy because he was on the ball enough to call me before my realtor even bothered to notify me that the contract was up (which was supposed to happen at the 'end' of this month... I suppose it is close to the end of the month). I scrambled a little bit trying to find my contract copy, and bam, another call 8:58 AM. You've got to be kidding me... another REMAX agent asking if I was 'ready to hire the agent who was going to sell my condo'. A little annoying... After the wolves settled in for lunch I had already received 6 realtors calls. Between that and work phone calls I spent the entire morning on the phone while trying to get ready for the meeting with Microsoft. After a quick check I decided to add one other realtor to my interview list, so I had a intervies at 5pm, 6pm, and 7:30pm.
I run up to DC for the meeting, which lasted 3 hours *arg*. Surprisingly it was a good meeting, I was surprised as the last time we met on this topic they were still clueless that search was an important research area.
I spent from 5:10pm (The meeting ran late so I was late) until 9pm talking to the three realtors.
#1) A little inexperienced, brought too many comps (and comps without similar curb appeal), and didn't do a good job convincing me that he could "sell my condo in 30 days"
#2) A business friend of a friend of my brothers :) yeah... that's a lengthy intro. He was very laid back. Had lots of things that I should do to increase the curb appeal and the first impression. Which are all good things, but he admitted that most realtors are going to do the same kind of marketting and that one of the key factors to look in this market right now are people low-balling and trying to underbid you.
#3) The initial wolf of the morning. Very energetic like the first. Tired to convince me that it was possible to "sell it in 30 days"... apparently REMAX just sold a condo a few weeks ago that had been sitting on the market for 120 days before the person switched over to REMAX. One of his main selling points is that everything is coming directly out of his pocket. His office doesn't share expenses etc... so he's a highly motivated seller, as his own money goes into the listing expenses.
The long and the short of it... the market has continued to slide, and my former realtor didn't keep the price in check... so it obviously wasn't getting sold when someone could buy something of the same for 10 grand cheaper. And it is already at the point where I need to sell it at a price to break even. Any more and I'm at a loss which I can't pay for at the moment. #1 is out due to low experience, #2 is out because he's "in it for the long haul" because I can't do the "long haul" with price reductions, so #3 it is... if he thinks he can get it sold in 30 days then by all means take a crack at it... I don't honestly think he can do it... but if it isn't sold in 30 days the market will be below my break even point and I am stuck renting anyways... so I'm giving it to the guy who thinks he can do it. ... wish me luck :)
After that decision was made I cleaned up the condo a bit, and headed out of Reston around 11pm :( I'm getting too old for this crap.