Should You Sell? Maybe Not.

J Philip Faranda May 7, 2011

I was referred by a current client (I love referrals) to a family member who wanted to know what his condominium in White Plains might be worth. It is a nicely renovated unit he bought last year, but it is in a small building with fewer than 50 units and was built prior to World War II (we call this a “pre war”). We met this evening at the apartment and went through market activity on my laptop together. 

After evaluating what he bought it for, what was spent on updating it, the closing costs he paid for his purchase and the costs of selling, my advice was to stay put for now. He told me that he appreciated my honesty, because I made no money in giving that advice. 

Yes and no. I may not make a commission in the short run, but in the long run I have to do right by everyone. Do what’s in the best interests of the client and business will come from it. That’s how we’ve built the company. 

When it is time to sell, we’ll work together. 

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