Gosh, folks, it's been a while since I have written... But here's a little story about how sometimes things in Real Estate just don't work the way we all want them to.

Some time ago, I had some friends talk to me about listing their home. It was in mostly very good condition, but needed a few small repairs and some updates. Eager to impress them and to impress my office manager with my efficiency, I ran a market analysis, talked with them about doing the improvements and the pricing, and then put the house on the market while the work was still being done... This was one of those moments in which my own enthusiasm got the better of me and of more rational thinking. I can already hear all of you collectively groaning as you point out that it is far better to put a completed product on the market than one in development (unless it is brand new construction, but that is a totally different story).

So, what happened? Well, first the work took weeks longer than anticipated, so the house wasn't ready to show for the first few weeks it was listed. Then the market changed with the sale of a  few short sales and foreclosures in the neighborhood that brought the overall sales for the area down quite a bit. Next a slew of brand new construction properties came on the market with an extremely low base price. Throughout each of these changes, we were chasing the market instead of leading it or even driving it. Still I quelled any misgivings I had because I didn't want to hurt my friends' feelings. (I can hear you all smacking the sides of your heads here and wondering what I was thinking... clearly telling the most accurate information was truly the best thing I could have done).

Ultimately, all of the home improvement projects got completed (and look fabulous!), and the sellers really liked the updates. But we did not field an offer (despite many "interested" buyers). So we have pulled the house off the market for now. We will put it back on at some point, but this time, I will make sure we are fully ready for market and not in a half-way place when we start.

Sometimes we win, sometimes we don't, but this time really made me look at my practices and spend some time reflecting on how I conduct myself and my business and on the importance of staying true to my core value of telling people what they need to hear, not just what they want to hear. It is not a mis-step I will make again.



On a much brighter note, the buyers I have taken out shopping recently have all found homes on either the first or second day looking, put in offers, and been accepted. They are thrilled with their new homes and with the next stage in their lives.


Happy December everyone, and in case I don't get back here before, Here's to a Happy, Healthy, and Prosperous 2013!