The current Hilton Head Real estate market is difficult to understand and with a partner it may be near impossible.  I met a client the other day that has “partner real estate” in Hilton Head and he told me he has been chasing the market for the last few years because of his partners.  Seems every time he wants to set a price, his partners outbid him and set a listing price higher than what the market will entertain.

Does your real estate partner wear rose colored glasses?

Whether it is a bank, a wife, a husband, a friend or investment partner, most of us have a partner in the real estate we own.  Emotions, memories and pride can all skew the value of real estate just enough to make it unsellable in today’s Hilton Head Real Estate Market.  In fact, I have found that if a property is only 3% or more over fair market value, the seller’s only chance of selling is to get lucky.

Remove the emotion when selling “partner real estate

I learned this one from the sisters.  Their mom and dad owned a very large second home and it was emotional for each of them to even consider selling, yet alone agree on a value.  Each one had a different set of values they placed on this property.  Telephone calls with them would occupy my entire afternoon as I called one and than the other.  It was a never ending loop, until we started a e-mail chain.  E-mails have a way of reducing emotion and getting all the partners on the same page.

Include all the partners in Hilton Head Real estate decisions

I have leaned with partner real estate to communicate with each partner equally.  If there are two owners, both need to be copied on the emails or in the phone conferences.  Both need to give their consent and agreement.   Of course, one person may be the point person, but both make the final decision when it comes to price, terms or changes in a listing or sale.

Partners need to correct the value now or pay for it on time!

Partnerships usually have the ability to hold on to properties longer and are slower to react to market changes.  The problem this poses for the partners is by the time they do react, a great deal of time may have passed costing the partnership time and money.  The sooner the partnership recognizes this the faster the property will be positioned correctly in the market place.

This is the best season to sell your property on Hilton Head Island

One of my clients told me that his partners told him that there simply were not any buyers in their price range.  Not sure where they got their information, but last month we sold 15 homes over $1 million and 63 homes under $1 million.  If you think that there are no buyers, consider the source of the information.  Someone is using this as an excuse for either lack of marketing, condition, location or price.

Hire a real estate counselor

Most agents are pretty decent counselors and good overall communicators.  The key to having a sale take place in “partner real estate” is that each partner needs to trust the real estate agent they are working with.  If each individual partner has confidence with their real estate agent, the sales process will unfold within the dependable framework that contains order and integrity.  We hope this for you!