What Will You Do For A Listing?

By
Real Estate Agent with Online Real Estate Agent Training

Today's real estate market makes it very easy to make compromises in your real estate business practices.  All of a sudden you are Real Estate Agent Training Tipstempted to do things in your real estate business that you said you would never do.

Unreasonable Sellers

You know who they are.  They have very little respect, if any for real estate agents.  They think we are overpaid and don't do much work for the commission we receive.  As a matter of fact, they think they know more than we do because they have bought and sold real estate "numerous" times before.  They don't want to hear about market conditions because they already know.  They don't need to see a market analysis because they know what their house is worth.  Their house is in "perfect" condition and disregard any suggestions you make.  All of this and you still take the listing...happy just to have a listing.

The Overpriced Listing

Similar to the "unreasonable seller", but the bottom line for this seller is that they know they have the absolute best house in the neighborhood and it doesn't matter what the comps say.  You try to explain to this seller that buyers will looking at these very same comps and see that the property is overpriced.  You explain that even if a buyer were to agree to purchase the overpriced property, an appraiser would probably have a very different viewpoint and the property more than likely would like appraise.  In spite of  recommendations the seller holds fast to their price.  But you take the listing anyway, hoping you can get a quick price reduction.

Reduce Your Commission

Again, this seller is similar to the "unreasonable seller".  The primary focus of this listing appointment is your commission.  Why the home owner chose to actually meet with you is a potential waste of everyone's time.  If commission was the only thing the seller is concerned with throughout the entire transaction, that is something that could have been discussed over the phone.  This seller is not looking for a real estate professional, but you take the bait, reduce your commission and hope you won't have to spend much time on the listing.

What Are You Worth?

In the current real estate market it is imperative that we know our value.  What skill set do we bring to the table to help the seller have a smooth real estate experience?  How much work will we do to prepare the property for sale, to market the property and to negotiate the best terms and conditions for the seller?  If you are clear as to what you will do to get the property sold, than you should be clear on what you are worth and regardless of the market conditions, you can walk away from those "unreasonable sellers" and never look back.

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Posted by

Candy Miles-Crocker

Real-Life Real Estate Training

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Charles Stallions 06/11/2012 06:31 PM
Groups:
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Tags:
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Ambassador
643,395
Doug Rogers
Bayou Properties Realty - Pineville, LA
Your Pineville Louisiana Agent

I can work with unrealistic, but the seller who is a jerk? No way my sign goes in that yard!

 

May 22, 2012 06:18 AM #1
Rainmaker
161,200
Ryan Case
SCA Real Estate - Anaheim, CA
877-828-0710

What a well written blog! I completely agree, if a seller is unreasonable, be strong enough to walk away!

May 22, 2012 08:15 AM #2
Rainmaker
171,390
Dale Samples
304.741.4705 • www.dalesamples.com - Charleston, WV
REALTOR -Homes for Sale Charleston, West Virgini

There is enough stress because of regular business, no need to add to it because you are desperate. Operate business the same way regardless of market conditions and you will win in the end.

May 22, 2012 08:36 AM #3
Rainmaker
98,280
Reuben Fine
Fill-In-The-Blanks PDF Flyer Templates www.TurnKeyFlyers.com - Rossmoor, CA

Great post and well put! We'll always have to deal with "unreasonable" requests... Its about controlling expectations.

May 22, 2012 08:40 AM #4
Rainmaker
570,050
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Candy,  Recently had some work done on my car.  The invoice seemed high for the work but I reminded myself that some clients see what we make and wince at that amount.  My income has already been reduced by the market prices.

May 22, 2012 09:12 AM #5
Rainmaker
315,692
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

I can only help those who are willing to be helped.

May 22, 2012 09:15 AM #6
Rainmaker
430,648
Adam Brett
The Adam and Eric Team - Fullerton, CA
The Adam and Eric Team, Setting the New Standard

Couldn't agree more with your comment Reuben, well put!

May 22, 2012 09:37 AM #7
Ambassador
751,788
Lori Bowers
La Quinta, CA
The Lori Bowers Group

Buyers are like gold right now

May 22, 2012 09:47 AM #8
Rainmaker
150,636
Candy Miles-Crocker
Online Real Estate Agent Training - Chevy Chase, DC
Realtor - Real-Life Real Estate Training

I was coaching a group of new agents recently and tried to explain to them that not all money is good money, but very prospects, the majority of them were willing to work with anyone.  It's really a tough decision for newer agents to make.

May 22, 2012 10:37 AM #9
Rainmaker
56,917
Nelson Carrillo
McMillin Realty - Phone: (619) 940-6560 - Bonita, CA
South San Diego, CA Homes For Sale

headaches, stress, bad rep...... hmmm?  No, Thank you, Mr. Seller.  I don't waste my time.  I get homes sold. Cool post, thanks!

-Nelson

May 22, 2012 11:20 AM #10
Rainmaker
437,013
Pete X with X Group Real Estate Advocates, Huntington Beach, CA 714.459.2017 OCLister.com
Investments to Luxury - Huntington Beach, CA
Outstanding Agent Referrals-Nationwide

It would be more than what I would do for a Klondike bar, that is for sure.

Would take an overpriced listing with step down pricing in a written  agreement prior to taking it.

I would entertain the prospect of stripping for a listing also if that ever comes up.

Still working on my game plan!

May 22, 2012 11:51 AM #11
Ambassador
1,322,888
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

Candy, I say no to all of those things. The result...I have clients that are easy to work with and value my opinion. Everyone else can go to agent who do anything to get a listing.

May 22, 2012 05:00 PM #12
Rainer
108,154
Athina Boukas
Athina Boukas (Greensboro, NC) - Greensboro, NC
Broker/CRS

Hi Candy,

I also read one of your links "I don't want your listing"...good one.  Some sellers need to be gently shown/educated about today's market and competition, but sometimes it is better to let them go.  Or help them go "FSBO" for a while...maybe then they will come around.

May 22, 2012 05:32 PM #13
Rainer
102,954
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

I'm to the point in my life where it is very easy to walk away.  I figure I have only a certain number of days on the planet (hopefully a "several digit" number), but a finite number nonetheless.  I do not intend to waste a moment on a rude or unreasonable person. 

May 22, 2012 06:55 PM #14
Rainmaker
981,195
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

We are debating whether to take a listing we interviewed for last week. And for just the reasons you named. Thanks for the extra nudge.

Sharon

May 22, 2012 09:06 PM #15
Rainmaker
168,373
Stephanie Arnett
Coldwell Banker SRE ~ Starkville, MS - Starkville, MS
SRS, IMSD, Broker Associate, REALTOR

Well said; thanks!!

May 23, 2012 12:10 PM #16
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Candy Miles-Crocker

Realtor - Real-Life Real Estate Training
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