You can lead a horse to water but you can't make him drink. You can lead a client to the Fountain of Knowledge and they don't get it.
As many of you know I do work on FSBO's. Well I had one of the not so amazing experiences happen last night. I had an appointment with a potential client. I decided to do something completly different. So I found houses in their own neihborhood that were in the same price range. I took two vacant homes to view (so I wouldn't bother an owner) and asked if he and his wife would like to see two homes in their asking price? Oh yes, was the answer. So off we go around the block. Both homes in their price range are on the golf course and both have redone the kitchens (beautifully I might add) and both have redone the Master Bathrooms. Note.... they have been on the market for over 6 months. Now we go back to their home. I take the tour. This home is stuck in the early 80's. Kitchen is small & dark and the only thing they have done is the carpet 4(four) years ago. They are not on the golf course.
Guess what? They think their house should be exactly the same price because they have a bigger lot. They also need the money to buy their next home. They know these two homes and others have been for sale for quite some time and haven't sold. I told them they have to look at the market and decide how they want to price it. I did not tell them what I would list it for and they did not ask. The wife kept saying we have a bigger lot.
If you want to move your home in a slow market and others in your market are on the golf course and have been remodeled you need to price it correctly. Today I am smiling because I thought I was so smart and thought common sense would prevail. Silly me.