I just had a new article published for RealtyTimes.Com today and thought I would share it with you! When we list homes we must not lose sight of the fact that are in the drivers seat. It is the agent not the homeowner that is really doing the interviewing. Saleability of the property is key! For many of us we are lucky that most agents do not get this concept. These agent will list anything, at any price in any condition! The reason is simple, they are either too new to real estate, have no experience, and pride themselves with winning the overpriced listing that no experienced agent in their right mind will touch. Since you are marrying the seller of the property for better or for worse during the listing period, it is the listing agent that will constantly be accountable for their actions. If you took and over priced listing and you are getting no traffic, no offers, and cob webs on your signage - be prepared to get yelled at, blamed and bad mouthed all over town because you cannot sell a home. So if you are going to list a homes, choose a winner in regards to price appearance and make sure you have realistic sellers. These ideas are based upon actual successes in our Atlanta real estate career. Best wishes!
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Jim,
Good point especially in the current market!
Ann
Richard Foster, RRG, CREN, ABR, ABRM (Elite Realty) I think many agents do not get this. It isn't a race to list the most homes.
Ann Hayden~Real Estate Agent Wildwood e-PRO (Prudential Select Properties) Thanks Ann. I agree, especially in this market it pays to think it through.
Jim,
I read the article on Realty Times, and couldn't agree more. Well written!
Sandy
Sandy Nelson Realtor - Olympia, WA (Riley Jackson Real Estate Inc.) Thanks!
Jim, I so agree with you on this one, that we list to sell, not to sit and get yelled at.
Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty) I totally agree with that.
Absolutely and totally agree. I, for one do not like to be bad mouthed but more than that, I especially do not like feeling as though I've failed my client when a house doesn't sale. I tell potential clients during my listing presentation that if I feel I cannot sell the property, I will tell them that so they can move on to the next agent. I look for win wins for all parties.
It's too hard to sell GOOD properties these days, so why would you take a bad one?
Donna Yates, Georgia Realtor North Georgia Blue Ridge Real Estate (Mountain Investments of North Georgia) That is a very wise strategy. Alos, let your competition beat themselves up and go out of business. It is hard enough selling good homes these days.
Realty Executives - Erica Ramus - 570 622 6006 - Schuylkill I feel the exact same way, but many agents list anything and everything. That is throwing good money after bad....when you spend money on marketing something that will never sell, and be abused by the seller at the same time. Can you spell B-U-R-N--O-U-T?
Abused by sellers? Never happens! Ha!
Realty Executives - Erica Ramus - 570 622 6006 - Schuylkill Ha Ha Ha...! I agree! :)
After the week I've had... you just gotta laugh.
I let 2 agents go (a team)... lead agent wouldn't check in or return calls/emails. too many complaints + unpaid office bill. Still haven't heard from them, even after I terminated by fax/email and letter.
Let 1 agent go today. Long story, but probably a mistake to hire from the beginning. My gut knew it on day 1 but I was hopeful.
It's 6 pm and time for wine!
Realty Executives - Erica Ramus - 570 622 6006 - Schuylkill Maybe it is just time to unwind! Decisions are never easy but a must! There is a peace of mind that comes just by doing what we need to do.
Yep. Somehow it can be freeing. Here's to a good Labor Day Weekend and an even better September!
Realty Executives - Erica Ramus - 570 622 6006 - Schuylkill God Bless and have a great weekend!
Jim,
Have a great Labo Day weekend.
Ann
Ann Hayden~Real Estate Agent Wildwood e-PRO (Prudential Select Properties) You also Ann! Have a great one!
Jim:
I have been writing about this very subject constantly. Some agents believe getting something that is worth nothing is somehow worth something. If that makes any sense. They like their name in lights and live off of hope and dreams, not reality. It causes the market to keep from finding it footings with true price action, without laying more inventory on the books.
Judgeing seller motivation is paramont, along with appropriately pricing your listing.
A true pro, knows when to turn down a job offer in any business.
Richard
I feel your post does hit some valuable points. You can not take anything for the sake of having something. The market has its own timeline these days so to take something that will sit for a while doesn't make much sense. Great points to follow.
Great advice! Do you still recommend this philosophy for new agents? I've been told that one could still obtain a Buyer to work with, etc. Thanks!
Lee Davenport Yes. It is also unethical to be less than honest with a seller just to get a listing to attract buyers.
I found out the Hard Way, But what a lesson learned!!! Thanks for sharing!
Jim,
Good points! Unfortunately in our market area (near Jackson Hole, Wyoming) most agents and many of our brokers don't have a clue how to even do an accurate CMA, let alone price homes that are so unique that they do not have true comparables. A second problem I see is that many agents do not know what the present market conditions are or where they are going.
The "Great One' (Wayne Gretzky) attributes a large part of his success to "skating where the puck is going to be ... not where it is." In my opinion, real estate is the same. You need to be where the market is not where it was!
Have a GREAT WEEK!
Joe
Thanks Jim.
Ann
Antoinette Mason Live & Loving Hartville,Ohio As My Home! (Realty One Realliving) Ann I agree. We have all learnd this less the hard way, but that is also the definition of the word "Lesson!" As long as we learn from it we are OK.
Joseph Mack (RE/MAX Advantage Realty) I could not agree more. If I run with the pack I can be a lemming. It takes a lot to be successful in real estate, and many will never achieve that or even know that they are missing the boat.
Ann Hayden~Real Estate Agent Wildwood e-PRO (Prudential Select Properties) Anytime Ann! Have a great one!
Good point Jim, that is why I turned down an overpriced listing today, the customers only had the home for 2 years and the homes in the area have dropped in price $20,000. I suggested that they rent for a year and then if all conditions are right let me list and sale it then
Mike
Mike Davis,Realtor,selling buying homes Fort Gordon, Hephzibah, Augusta,Evans, (Century 21, Larry Miller Realty) Very smart way to do it. Very honest, and very professional. It really pays to tell the truth!