Next to poor listing photos on MLS, an agent typing in all capital letters has to be one of the next biggest indicators that the agent is not paying attention to detail. Do they know that all CAPS is similar to yelling at someone? Can they not hit shift and the letter that starts the sentence like 95% of the population when using a keyboard?
The one listing that recently renewed my attention to this was a stunning remodel in Glenbrook. The home fit the search requirements for a buyer I am working with perfectly. Everything in the home had been updated, the kitchen had been remodelled, the flooring is updated, all the base and case throughout the home has been changed and the bathroom looks stunning. Not only has the home owner done all the work to upgrade the home cosmetically but he has upgraded most of the big ticket items that are important to the structure of the home too. The owner has changed the roof, installed new windows, worked on the curb appeal and updated the home from aluminum wiring to copper. On top of this the home is sitting on a large R2 lot, meaning that in the future when the Calgary real estate market turns around the owner could knock down the home and build side-by-side duplexes.
With all the updates to the home and the 'move-in' ready condition, the home should be easy to sell. There is a 2 bedroom suite in the basement that is ready to rent which has also been updated and renovated; not to the same quality as upstairs but significantly better then every other basement suite I have been inside in the last 3 years. The home is close toMount RoyalUniversityand the basement should rent easily as student accommodation in the area is popular and in demand.
The home has a few drawbacks, it is on a busier road for the neighbourhood and the home faces east. Most people looking for a home value the way a backyard faces in a certain order. The majority want a west backyard first, then a south backyard followed by east and north. If this home was a west or south backyard I am pretty confident that the buyer I am working with would have already bought it.
The home is great, so what's the problem? Why hasn't it sold? Maybe the asking price was a little too high out of the gate and they should have started at a lower asking price but here is the story. The home was initially listed a little over a year ago for $670,000 and is currently listed for $570,000. The market is decreasing and the seller likely started too high initially with their asking price but I feel there are a few other things that are hampering this sale.
In my experience when a listing presentation is typed in all CAPS, the realtor on the other end is hard to work with. I don't always assume this and go into the conversation hoping this won't be the case but time and time again it is. This totally renovated beautiful home is in a prime location; one of the top neighbourhoods rated by Money Sense magazine for future appreciation in Calgary, close to a University with a two bedroom basement suite but the listing has with photos that look like they were shot with a flip phone and an all CAPS description. Here is a sample of the description:
*** HUGE $ 100,000 REDUCTION *** DIRECT BUS TO LRT IN 4 MINUTES ** TOTALLY DEVELOPED --- "TOTALLY TRANSFORMED " LIKE A NEW HOUSE ( NEVER LIVED IN ) 3 BEDRM UP WITH 2 BDRM MOTHER-IN-LAW SUITE DOWN WITH SUMMER KITCHEN **R-C2 50 FT FLAT DUPLEX LOT---- NEW HARDWOOD ---NEW CABINETS-- KITCHEN + BATH -- GRANITE COUNTER TOPS --NEW STAINLESS APPLIANCES--NEW BATHROOM WITH **HEATED FLOORS ** NEW WINDOWS--NEW ROOFS-- ---NEW 24 X 12 DURA DECK---NEW FENCE--NEW POURED WALKS HUGE YARD WITH R.V. PARKING AND GATE ---- **
This is not the whole description, it goes on and on in all capital letters and ends with "***MAKE AN OFFER NOW **" So we did that, we looked at the comparables and made what we thought was a strong offer. I initially reached out to the selling realtor and it felt like there was pushback right from the start. We did not low-ball the seller and we had a strong, educated offer price that reflected what we thought the home was worth and was based on recent sales in the neighbourhood. The selling realtor was emotional, upset at the offer price and was trying to sell me on the home. It felt like he was on the defensive from the beginning and was not someone who wanted to bring a deal together but was pushing us away.
I don't operate like this at all, I never push away other realtors and always work with the buyers to try and bring together something for my clients. I was surprised at the agent's reaction but not really that surprised when you consider the flip-phone pictures and the all CAPS description. I feel like the three go hand-in-hand. The reaction of the selling realtor was not professional but then again neither was the work he put into listing the home. Very poor pictures and a written description that makes me cringe; if you can't put in the time to list the property correctly why would I ever assume that he would be professional in person too.
I just wish I had the opportunity to list this house, I know that I could sell it quickly and for an amount the seller is currently seeking. Yeah the selling realtor told me that too, he disclosed his seller's motivation and bottom negotiating number, this is totally unacceptable in my mind and I was shocked this would happen but not that surprised based on everything else. The sale did not come together and I honestly feel that it was the selling realtor that stopped this from happening, he was emotional when dealing with me and I am sure he carried that emotion with him when he presented our offer to the seller.
We are currently only $10,000 apart in the negotiation price but I am not sure it will happen, it has been over a week now that I have been trying to talk to the other realtor to bring the deal together for everyone. He keeps telling me that he has a buyer for the home that he met at an open house but there has not been an offer yet, he has told me 3 times now that the buyer is going to the mortgage broker today or tomorrow. I feel like I am being strung along and that this buyer may not exist.
We have an offer in play that is very close to what this home is worth, why is the other realtor blocking this deal by bringing emotion and attitude to the table when negotiating with us. The buyer has decided to wait and wants to resubmit an offer at a lower price considering that it has been a couple of additional weeks and the home has not sold. I know this will just add fuel to the fire and leave us farther away from getting the buyer the home he wants.
The buyer is still trying to buy this home and the selling realtor continues to act in a way that in my mind is not beneficial to the seller. In hindsight with flip-phone pictures, an all CAPS description and a realtor that is trying to make it an 'us versus them' situation I am not surprised this home has not sold. Too bad for the seller as I do not necessarily think it is their fault and it has cost them over $100,000 in asking price and probably a year in carrying costs.
It is key to always present a home with professionally shot photos, an enticing description and to work with everyone who comes to the table. Too many times I see poor photos and a poor description leading to poor negotiations too.
When you look at a listing on MLS are there things that confuse you? Similar to why someone would write in all CAPS? Let me know, I'd love to hear about it.