Midori Is Asking...Seller's Please Answer!

By
Real Estate Agent with Better Homes Realty - BH Referral Associates

 

How many times have you taken a listing for the seller to call you back to cancel you listing agreement

Or sit at the closing table waiting for the seller to show up and they never do? 

If either have happened, don't feel bad, I say "Welcome to Real Estate!"

(Boy, did I make mistakes early on in my career)  

Now let's take a step-back and review....

Seller + Prequalifying Questions = A saleable listing or Not!

As real estate professionals sometimes we are so hungry for listings, there are occassions we just take the listing and forget to ask the vital questions necessary to pre-qualify the seller. 

Yes just like a buyer, you should screen a seller. Even prequalifying a seller may not guarantee an easy time of it or a listing that will sell.  

Let's face it, increase your odds and ask those questions. 

If a seller does not have a need often times they are unrealistic. 

  • With pricing
  • With marketing
  • With You

Midori is asking.....seller's please answer.....

  • Is your property currently listed? 
  • What is your property address?
  • What do you think the property is worth?  How did you come up with that number?
  • Who is on title with you?
  • How long have you owned the property?
  • What features attracted you to the house?
  • When do you need to move by?
  • Why are you selling?
  • What are a few of the negatives about the property?  If any...
  • What happens if your house does not sell?
  • Have you sold a house before?  When?  Did you use a Realtor?
  • Are you relocating?  Where?  Would you like me to connect you with a Realtor in that area?
  • Do you have a mortgage? Balance?  2nd or equity line? Balance?  Are you current?  If not how many payments behind?
  • Any pre-payment penalties?
  • Are taxes and insurance included?  Flood Insurance?  Are you current?
  • Leins on the property?
  • Is there an HOA or Condo Association?  Any assessments?
  • What I would like to do is stop by your house, do a CMA, when would the best time to come by with all the decision makers present?
  • When I meet with you will you want to start marketing the property immediately?
  • What are you specifically looking for in an agent?
  • What are your expectations of an agent and your expectations of services?
  • Are you interviewing other agents?
  • Would you mind telling me who else you are interviewing?
  • If I answer all your questions to your satisfaction, would you want me to start marketing it immediately?
  • Is it possible to wait to make a decision before hiring an agent until you meet with you?
  • Will you be using an attorney to assist in the sale?
  • Is it possible to start rounding up documents such as POA, divorce decree, death certificate, Mortgage info, Title policy, Estate info? (if applicable)

 

One of the things about screening a seller, the more you ask, the more they will answer, it could evolve into another question that is not on the list. 

Keep that conversation flowing...listen...learn...Ask these questions...you decide...is the property marketable?

Will this seller have a chance to sell? 

Is the listing worth taking? 

Will I providing a true service if I take this listing and will all benefit? 

Now let's put it all together...and remember

 

Seller + Prequalifying Questions = A saleable listing or Not!

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Tags:
sellers
prequalify
real estate inventories
real estate listings
sales
midori
midori miller
daytona beach real estate
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Comments 24 New Comment

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Rainmaker
454,032
Midori Miller
Homes In Fort Lauderdale, Real Estate Training - R
Better Homes Realty - BH Referral Associates

Christopher-Thank you...yes I have always been interested to find out their source of worth.....

Sharon-I agree sometimes we just have to walk away

Joy-You go girl!  Thank you...

Adam-Thank you...I agree

October 08, 2007 10:23 AM
Rainmaker
454,032
Midori Miller
Homes In Fort Lauderdale, Real Estate Training - R
Better Homes Realty - BH Referral Associates

That is weird Chris but it doesn't suprise me!  I think sometimes people are afraid to admit they need help from anyone.  I think I might have reacted the same way and cancelled the appointment.

Dionne-You got it!

October 08, 2007 10:26 AM
Rainmaker
202,094
Maria Couto
ABR,CRS-Berkeley Heights & Long Hill Real Estate H
RE/MAX Premier
Midori, another great post, I've done a form of qualifying sellers for years. I do turn some down. The thing that never concerns me is my competition, I only  ask if they have agents that are coming in that are family friends or relatives. I've lost my share to agents that are friends of the family. Sellers just wanted a second opinion.
October 08, 2007 12:09 PM
Rainmaker
454,032
Midori Miller
Homes In Fort Lauderdale, Real Estate Training - R
Better Homes Realty - BH Referral Associates
Maria-thank you..yes I do believe sometimes people use your info to let some other agent market or correct their incorrect pricing.
October 09, 2007 02:52 PM
Rainmaker
76,036
Natalie Langford
Winchester, VA Real Estate
Realty Negotiations
Ah ha, now I see the list!  (I commented just now on Do you give good phone).  If I hadn't been clicking and then clicking and clicking again to all your great blog posts, I would have seen it right away!  Thank you! 
October 13, 2007 07:01 PM
Anonymous
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Rainmaker
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Midori Miller

Homes In Fort Lauderdale, Real Estate Training - R
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