I WAS THINKING...MAYBE IT'S ALWAYS BEEN THIS WAY...

By
Real Estate Services with William S. Cherry & No Co., Wealth Coach

Maybe it's always been this way.  Who's to say?

It's reasonable to assume that most home sellers pick their Favorite Agent to list their home.

Wouldn't you agree?

But here's where the twist comes. 

Between the seller and his agent, a listing price is chosen. 

And if the Favorite Agent is a good one, and most are, through market research of recent sales of homes that are similar, that picked listing price is within the ballpark.

But here's the catch.

What happens if the home doesn't sell quickly enough to suit the seller?

Oft times the seller and the Favorite Agent go their separate ways, and a new agent -- the second choice -- is retained to carry forward the baton.

Rarely is anything changed about the property other than that the listing price is lowered.  Sure enough, within a week or so, the home is under contract with a buyer.

So it wasn't the agent that needed changing, it was the price. 

And the question that I often ponder is why the Favorite Agent was fired rather than the homeowner doing what was obviously the inevitable -- just lowering the price?

There is one Dallas agent I have watched for a long time.  The agent has made a good living and garnered a good reputation in the role of the Second Agent.

But rarely is thia Second Agent picked as the Favorite Agent.  Do you suppose when this agent is picked as the Favorite Agent, another Second Agent is picked to sell what she had listed that the market had decided was overpriced?

I swear I don't know.

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Since 1964

214 503-8563

WEB

 

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Topic:
Home Selling
Location:
Texas Dallas County Dallas Lake Highlands
Groups:
Advice for Sellers
All Thing's Texas
Almost Anything Goes
The Art Of Marketing You
The Ninety-ninth Percentile
Tags:
home price
picking an agent
over priced
dallas real estate market
selling a home

Comments 43 New Comment

Rainmaker
268,182
Kasey & John Boles - Jon Gosche Real Estate
Boise, Meridian, Ada/Canyon/Gem/Boise Counties
Jon Gosche Real Estate, Boise ID

I don't know if you meant to be funny, but this post made me laugh.   Good post though - sometimes it's good to be the second agent!

April 25, 2011 11:43 PM
Rainer
68,804
Robert Courtney
Century 21 All Islands, RA, CDPE, MCRE, CIAS

Knowing the personality type of the Seller is key.  This will tell you how to best sell your self and establish a listing price.  Do this process carefully and there should be a 

April 26, 2011 03:35 AM
Rainmaker
130,762
Liane Thomas - Corona & Riverside Real Estate
Bringing you Home!
The Jet Team, Keller Williams Realty, Corona Real Estate

Ouch! Maybe the first agent didn't want to have that conversation with the seller and it cost them a sale...

 

April 26, 2011 02:55 PM
Rainmaker
122,426
Kent Dills
Real Estate 817-495-8028, Bellingham, Washington
Broker, Dills Real Estate

Agree with Robert (#20) and Kimo (#27) 1000%.

 

April 26, 2011 03:59 PM
Rainer
16,472
Rosanne Fett
NMLS #205558 - Home Loan Expert, Jumbo Home Loan, USDA
FHA home loan, VA home loan, zero down home loan

I know this would be frustrating if I was the preferred realtor, but it really makes you wonder if the preferred agent isn't doing a great job communicating with the seller about being realistic on the asking price.   As a loan officer, I have similar experiences, because I tend to be the number 2 person.  I get the deals that others can't get done because I have frank conversations with the borrowers to learn all of the details and can figure out how to structure their loan to get it done. The challenge is getting realtors to refer their client to me first instead of doing clean up.  But I will admit is does get me referrals. 

April 28, 2011 04:31 PM
Rainmaker
316,050

BILL CHERRY

William S. Cherry & No Co., Wealth Coach
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This is the place where we discuss how to manage commissions from real estate sales so that you will accumulate wealth. Call me 972 677-7098 http://www.realtorwealthcoach.com