I ofter receive calls from brokers wanting a seminar on beefing up the listing presentations. I always ask them first, "What type of real estate market are you in? A buyer's market or a seller's market?" The brokers balk at answering first... and ask why am I asking the question! The question is vital to agent survival. In a buyer's market you need BUYERS! Why? You'll walk away from the closing table with more money. A good negotiator will always reap their rewards by taking a full commission, perhaps even an increased commission and a bonus. Any buyers agent worth their salt will never have to give up any of their commission.
Unlike the buyer's agent, the listing agent in a "Buyer's Market" has to deal with a seller that is financially up against it. The sellers need constant reassuring that all is well. Constant hand holding! The listing agent is besieged with questions from the anxious sellers..."And how about some open houses, classified ads, real estate magazine ads...etc", and answer a constant stream of questions like "And what have you done to sell my home lately?" It is the ultimate reality check! Also, after all your efforts you finally get the home under contract at a price the seller. They are really not happy with the price you struggled to get them. They are ungrateful! Then the last straw! The other shoe drops... the inspection comes in with some issues. The seller will look you right in the eye and ask you to come off your commission after all of your efforts! It's enough to make you want to leave real estate! Why? Because you are working the wrong side of the street!
Common sense in real estate dictates that in a buyer's market work buyers! If you are in a seller's market - get listings there easy money then!
James Crawford ABR, Broker Associate
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