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Putting lipstick on the pig….

December 29, 2010

Putting lipstick on the pig…

lipstick on the pigI had a referral for 2 listings in one family, the initial meeting went well, very well. They were pleased with what I had to say and didn’t want to meet anyone else. And then it happened…. I sent the first market analysis along by email prior to meeting with them again.

Uh oh… although we had talked about being realistic, suggestions had been made for a few things to do before putting the house on the market, while keeping the cost down and the updates in line with the house. She told me her husband felt some things would be like putting lipstick on the pig, the house is small, solid, small, lovely yard, small, mixed bag neighborhood, small, just a simple home which will make some family a wonderful starter home. Did I say it was small? And it is over 20 years old. (I smell a new roof here too.)

Guess what? While they felt many things might have been like putting lipstick on the pig, they did not feel that way about pricing the home! They defiantly wanted to put lipstick and an evening gown on the pig as far as the price went!

I went back, checked and rechecked my numbers, I spoke with my broker and 2 other agents, we went through my comps again and again. Everyone agreed with me. Except the home owner. They had gotten an appraisal for a refi some time in 2009 that is $70,000 more than my number came in at. Someone is really trying to put lipstick on the pig… After all, you can now purchase new construction here in town for $30,000 more than the dollar amount I gave. But no one knew that, nor did they want to know that.

So, yesterday I finished up my market analysis on the second home. I emailed it off, and said I was aware they were unhappy with me, but I wanted to finish up with them anyway. I wished them all the best in a quick sale. I put those big girl pants of mine on, even though I didn’t want to.

I guess people really do want to put lipstick on that pig, no matter what they say!

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