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One Question Will Get You 10 in Return

The caller had what he thought was a straightforward request that seemingly required just a “yes” or “no” answer. “Do you think I’m crazy to turn down an offer for my house that is $95,000.00 less than what I’m asking?”

Of course, my answer was a series of questions. What’s the listing price of your house? How was that asking price determined? How long has it been on the market? How many other homes in your neighborhood are for sale, and how do their prices compare to yours? What have been the sales price of nearby homes that have recently closed?  Is the house empty? Did you already buy something else? How much do you owe on your mortgage(s)? Is your buyer offering to pay “cash” rather take on a mortgage? Are there many pending foreclosures in your area?

“Really?” he said. “I really need to answer all these questions before you’ll advise me?”

Comments

( 4 comments — Leave a comment )
(Anonymous)
Feb. 22nd, 2011 11:56 pm (UTC)
Can I be blunt? Why are people soooooo stupid???
real_lawyer
Feb. 23rd, 2011 12:50 pm (UTC)
I hope you're referring to my caller and not me. If so,I'm not sure he was stupid as much as he was fixated on "losing" $95,000.
(Anonymous)
Feb. 23rd, 2011 05:33 pm (UTC)
No, I never meant you.... What I meant by that is, don't people have any common sense left anymore that these questions they pose to you are obvious to themselves and once they thought out all those answers ONLY THEN ask the question to you!
real_lawyer
Feb. 23rd, 2011 06:06 pm (UTC)
I have found that when it comes to money, often people seem a lot smarter when they are giving advice rather than when they are on the receiving end.

I rarely come across common sense these days. I'm not actually sure where it has all gone...
( 4 comments — Leave a comment )

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