You Win Some, You Lose Some, But It's Not For Lack Of Trying!

By
Real Estate Agent with RE/MAX Elite 513.265.3004 www.LizTour.com SAL.2002007747

PatienceYou Win Some, You Lose Some, But It's Not For Lack Of Trying!

This weekend was mixed!  We got a listing under contract, added a new listing for a few weeks from now, BUT we had one seller decide to "seek other options".  We'd love to say we sell EVERY listing, quickly and for new records in their communities, but that just isn't the case. 

We do our best, but sometimes that best STILL can't get the job done.   A seller who can't come down on price and isn't a short sale candidate basically has limited options and once we've maxed out marketing efforts we're limited too.  They either need the patience to stick with us, to quit the market entirely until prices comes to them, or decide they want to try another agent and hope results are different.

When the last two options occur, we do what we can to keep the bridge and options open with the seller.  For option 2, we keep the information flowing so the sellers know when market conditions are coming back to their needed price point.

For the last option, we wish the seller the best, keep it friendly, collect our sign and lockbox, and then spend some time dismantling all the advertising we have in place.  No hard feelings, sometimes we're just not lucky enough to have the buyer show up during our listing period.  It happens! 

We've had times when sellers have called us about changing from their current listing agent (we can talk, it's allowed since they called us!), and a review of the existing agent's marketing, pricing, etc. determines they're doing EVERYTHING right, it's just not time yet.  Sometimes it's just a matter of more patience.  Our market is still far from a "stick a sign in the yard and get multiple offers in the first week" market.  We're heading in the right direction, but in the meantime, we'll keep our clients fully informed, and ask for their patience!  We appreciate your trust!

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

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REALTORS(S) Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Liz direct:  513-265-3004
Bill direct: 513-520-5305     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

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Re-Blogged 1 time:

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  1. Praful Thakkar 01/15/2012 11:36 PM
Topic:
Home Selling
Location:
Ohio Warren County
Groups:
Advice for Sellers
House-Proud
Ohio Active Rainers
Realtors®
RE/MAX Active Rain Bloggers
Tags:
patience
selling homes in warren county ohio

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Ambassador
1,490,411
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Phil, We can understand the desire for the change, but all too often the ones we can't sell had the foundation for that failure set years before when the seller overpaid for the property, and in most cases like that they purchased without an agent.

Sandy, It's part of the business for sure, and working expireds we've had some just like you said, nothing obviously done wrong the first time, it just didn't happen during the contract period.

Marilyn, Some are VERY long on the market.  A lot of Expired listings DO have something that holds them back....an odd floorplan, a neighbor that doesn't keep their place up, a busy road....all these typically won't sell quickly unless the seller aggressively prices.

Clint, It happens to us too.  Sometimes you interview for a listing and realize later they never had any intent of hiring you, they just wanted to pick your brain and use the info with that agent from out of area or that new agent who's a relative :)

Gabe, When you attempt to educate repeatedly and they still don't grasp what's going on, sometimes we've actually been fine with it being over sooner rather than later.  If the trust isn't there, you can see it coming.

Roger, As long as we know we did our best and understand why something didn't sell, we're okay with the outcome.  If we need to learn a lesson and change something about how we do business, then we need to do that too.

Jan 16, 2012 06:32 AM #43
Rainmaker
1,168,151
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
Sometimes it is like getting divorced and remarried again with another divorce because you need to fix the real problem...I.e. that the Market does not accept the price the have established.
Jan 16, 2012 07:18 AM #44
Ambassador
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Harry F. D'Elia
Precision Real Estate Inc. - Phoenix, AZ
Investor , Mentor, CSSN, Radio Coach, REOs, ABR

Real estate is like baseball. We must swing for average and not homeruns each time has been my experience

Jan 16, 2012 07:39 AM #45
Ambassador
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Bliz I think most of us can relate to this.  And by keeping it friendly the seller may return after trying something else.

Jan 16, 2012 08:01 AM #46
Rainmaker
795,099
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

Well said, Bliz.  I had a listing expire last year which I purposely didn't offer to re-list.  The seller just wouldn't come down in price, and the house was not worth his asking price.  It just came back on the market with a new agent 4 months later.  Same price.  I just thought, "Bless her heart."  She has no idea what she's dealing with, but she will.  Sometimes best efforts just can't override an unreasonable price.  Move on.  Happy Monday folks!

Jan 16, 2012 08:16 AM #47
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

BLiz, it isn't always about price or the marketing of the home. Sometimes a home can be so suited for the sellers for the way that they've set it up for their tastes, that it doesn't allow a buyer to see through it, without a lot of work to make it fit their needs. Then it's a matter of waiting.

Jan 16, 2012 08:37 AM #48
Rainmaker
893,958
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Bliz, you can only do your best. Not every home is going to sell no matter how much effort you put into it. Sometimes a change is what is needed on both sides of the table.

Jan 16, 2012 09:07 AM #49
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Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®
BLiz: I have had those same calls from other sellers. You demonstrated you professionalism when, after carefully reviewing everything, you said to them " They are doing everything right! "
Jan 16, 2012 09:26 AM #50
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Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Cheryl, It typically is a rigid price that keeps the sale from happening.

Harry, Steady production might not be as glamorous as selling the multi-million dollar homes once or twice a year, and in our market it's a recipe for starvation.

Jennifer, We always keep the door open from our side.  If the seller wants to nail it shut that's their call.

Mike, We've watched the same happen, or not get the listing initially and watch it come on market far higher than we recommended.

Ed, We've had those too, and sometimes the seller's do wake up to just how small a pool of buyers they've got if they don't make changes.

Michael, Take our best shot, and usually that will get the job done as long as patience and trust are there.  We don't blame the seller for wanting a change.

Joni, I'd hope (probably unrealistically) that other agents would say the same when asked after reviewing.  Sometimes the sellers need to recognize average days on market exceed the initial contract length and that the buyer pool is just very small for their particular home.

Jan 16, 2012 09:35 AM #51
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Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

Good stuff BLIZ.  Sometimes sellers just aren't sellers right now.                                                              

Jan 16, 2012 09:53 AM #52
Ambassador
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Bryan Robertson
Catarra Real Estate, Inc - Los Altos, CA
Broker, Author, Speaker

I think I'm about to lose a listing because the seller thinks, after 6 months, that I'm not getting the job done.  Never mind that they are way overpriced.  We have a meeting Wednesday to sort it all out but I don't have a good feeling.  I hate it when sellers are unrealistic.

Jan 16, 2012 10:14 AM #53
Ambassador
1,490,411
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jared, True!  Eventually they will be, but sometimes that's years down the road.

Bryan, You always kind of know when it's coming, but every now and then a seller surprises us.  This one did!  Good luck with the meeting!  How often they forget what we told them at the beginning of the listing.

Jan 16, 2012 10:35 AM #54
Rainmaker
420,595
Leslie Ebersole
Baird&Warner Fox Valley - Saint Charles, IL
REALTOR - Chicagonulls Western Suburbs

The current LA may have done everything right, and in fact the house is priced ok, but it's too unusual or in a location with few sales. I always feel a little bad when I go on a call and think the current LA is getting blamed for things they can't control.

Jan 16, 2012 12:49 PM #55
Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Leslie, Same here.  Low sales and demand mean many homes won't sell in 6 months of listing contract even with the listing agent doing everything they should and more.

Jan 16, 2012 12:53 PM #56
Rainer
55,360
Teresa Tedder
Carolina Realty of Wilkes Inc - Wilkesboro, NC

I had a similar week myself! It hurt to lose a listing that I had worked so hard to sell (even when the seller priced it higher than I suggested and wanted to cut the commission as well) but in the end, he figures that he needed to switch agents to get the job done.  I had to remind myself that I cant win them all, and I refocused my efforts into the sellers that still have their faith and trust in me. Best wishes to the seller and his new agent! In the meantime, I need to prepare for my upcoming closings and keep the pending sales on track! I dont want to waste my mental energy!!

Jan 16, 2012 02:06 PM #57
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Kristin Moran
Owner - RE/MAX Access - KristinMoran@Remax.net - San Antonio, TX
San Antonio,TX - Real Estate - 210-313-7397

Sometimes no matter what you do the home it just isn't that homes time to sell.  It's frustrating & I do feel badly when I hear from client's that say their agent hasn't done enough to get it sold.  Sometimes, it's just not time!

Jan 16, 2012 02:09 PM #58
Ambassador
1,490,411
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Teresa, And that's exactly it.  We can't win them all.  If there's somethign to learn from the failures, we need to make sure we absorb the lesson, then box up the remainder and put it in storage so it doesn't distract us from the rest of our responsibilities.

Kristin, We've had clients say later they realized it wasn't God's plan for them to sell YET.  When it's time, it happens.  Of course, we're also supposed to help ourselves enable it to happen if it is time! :)

Jan 16, 2012 02:18 PM #59
Rainer
421,810
Peggy Chirico
Prudential CT Realty - Manchester, CT
REALTOR® 860-748-8900, Hartford & Tolland County Real Estate

We do work like that and try to do our best. But what really bothers me is when they give the next agent the price reduction you have been trying to get them to do.  They should at least give the first agent a chance to sell it at a lower price.

Jan 16, 2012 05:56 PM #60
Rainmaker
819,273
Lyn Sims
RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago - Schaumburg, IL
Schaumburg Homes

You can't win them all. Great post.

Jan 16, 2012 07:53 PM #61
Ambassador
1,490,411
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Peggy, Funny how that works....okay, NOT really that funny!  That said, many times we've been that 2nd agent and for some reason they listen better the 2nd time around?

Lyn, Thanks!  Would LOVE to win them all!  We'll keep working towards that goal.

Jan 16, 2012 08:24 PM #62
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RE/MAX Elite Warren County OH (Cincinnati/Dayton)
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