Q: I just had a listing presentation and presented a CMA (Comparative Market Analysis) to a couple who thought they would be able to get hundreds of thousands of dollars more for their home than they can in this market. They were banking on this home to allow them to retire. I feel terrible – like I have crushed their dream… I don’t know what to do next. Please help me!
A: There is one thing you have to keep in mind and that is you do not make the market. Don’t waste your energy feeling bad about a market that you have no control over. They probably do feel like their dreams have been crushed, so what you can do now is empower them with information and solutions.
First, I would create a small packet to send to them that includes additional information, such an assessed value comparison or listing to pending ratios, to support the information in your CMA. Include a letter which indicates that you noticed their surprise and let them know that you did additional research based on this to see if there was anything you missed, and indicate the enclosed research does indeed support the CMA if that is the case.
Then I would close with the facts:
- “You have a beautiful home and it is obvious that you have invested a lot of time, energy, and money into creating and maintaining it.”
- “I am so sorry to have to deliver news that I know you were not expecting.”
- “I realize this news is causing you to rethink your options.”
- “I would be happy to set up an appointment to go over those options.”
Remember, doctors have to give bad news all the time but they are not responsible for the disease. Their job is to make treatment recommendations, but the patient ultimately needs to choose the right treatment path for them.