Do You Really Want That Listing?

By
Real Estate Agent with Boomerang Leads

A lot of older real estate brokers teach their agents to never turn down a potential listing. In the old methods of real estate, having a listing offers numerous opportunities to the agent even if the listing doesn't sell. The exposure that the agent will get by having their name on the sign might bring business in the future. As the real estate business evolves to Internet leads, this method of acquiring business is getting far less effective.

In today's real estate business, potential buyers rarely ever call a real estate agent off of a yard sign or newspaper ad. Some people find homes when they are just driving by, but instead of going down and inquire to the house owner, they would end up looking for it up online or on their smart phone. Working with buyers from real estate internet leads is a much more effective use of time and money than taking unsellable listings.

When Logan Utah real estate agents are considering listing a house, they need to consider the sellers reasons and motives, for selling before deciding to take a listing. Sellers who are just testing the market, or thinking about downgrading, that won't set a sales price, are probably a waste of time to buyers. Some sellers who need to move because of a job transfer is a good reason, but sometimes some will do anything to get their home sold especially if they just want to move out of the area, or they hate the neighborhood.

Potential sellers who are selling because of financial distress or divorce can go either way. They might be realistic, and easy to work with because they need to sell their home, or they might be impossible to work with because they just don't care.

Personality is also a factor that an agent has to consider when meeting a potential seller. It is going to require higher maintenance? Will they demand that you do things that will have absolutely no impact in helping the house sell? Are they ready to do some things to help sell the house fast? Will they clean the house for showings. Are there still people who are occupying the house, and who are against selling it? Also consider the property itself in relation to what sales price the seller will be willing to accept. What kind of condition is the home in? Is it functionally obsolete? Is it located in an unsafe neighborhood or on a busy road? Will it entail major changes that can turn off most buyers?

A good real estate agent won't waste their time, money, and effort by listing homes that are not sell-able. If you are a real estate agent who has nothing better to do, then it might not hurt to take an occasional overpriced or discounted price listing. Just let it go if you’re in the real estate business to make money. A real estate agent can still make money by listing homes, but only if the house is sell-able.

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Show All Comments
Rainer
61,691
Tiffany Jacobs
Re/Max Regency - Manassas, VA
CDPE

Great Posting sometime you just have to make a decision

March 28, 2011 11:56 PM #1
Rainmaker
358,877
Sidney Kutchuk
Property Management & Sales at REALTY WORKS TEMECULA, CA 92590 (951) 217-6745 - Temecula, CA
Property Management & Sales Experts 951-217-6745

I am one of those older real estate agents and I have learned to let the problem ones go else where.
Send them to your competition.

March 28, 2011 11:59 PM #2
Rainmaker
43,595
Rose Osman
John Aaroe Group - Sherman Oaks, CA

I've taken over-priced listings in the past, but it's usually a waste of time, especially if the seller has no wiggle room.  Everyone ends up disappointed and frustrated and the chances of an over-priced listing leading to more business is unlikely and can make you look ineffective as a realtor.  I'd rather spend my time and energy with realistic buyers and sellers.

March 29, 2011 12:11 AM #3
Rainmaker
510,892
Rob D. Shepherd
Coldwell Banker Coast - Florence, OR
Principal Broker ABR, GRI

I work in an office of old timers that don't get it. Unfortunately they don't log on to Active Rain either.

March 29, 2011 12:18 AM #4
Ambassador
800,745
Fred Griffin Licensed Real Estate Broker
Frederick Griffin, Licensed Real Estate Broker - Tallahassee, FL
Tallahassee Florida. Call 850-339-4861

Do I really want that Listing?  

Yes, if it is priced correctly, easy to show, and not upside-down or short sale or in some other financial distress.

Taking a listing "just to get the sign calls" is Old School and inadvisable.

March 29, 2011 12:28 AM #5
Rainmaker
1,081,921
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I interview would-be property management clients for their intentions, etc when they are interviewing me to manage their homes.  If I don't feel it is a fit, I don't take the property to manage.

March 29, 2011 06:28 AM #6
Rainmaker
582,326
Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

Good Morning Alan, you have a very good point, don't waste your time.

March 29, 2011 07:28 AM #7
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Rainmaker
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Alan Barker

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