A Real Estate License Isn't Needed To Pull A Rabbit Out Of A Hat!!!

By
Managing Real Estate Broker with RE/MAX Executive Realty
http://actvra.in/D4b

We had a walk-in today and it was a homeowner who has his house on the market with another agent in our town.  This man wanted to have one of our agents visit his property and tell him why his house wasn’t selling. 

For starters, if you’re listed with another agent, we’re not going to give you a market analysis of your property.  Secondly, we’re calling your agent and letting him know that you walked into our office and request a market analysis from us.

This is not a game, Mr. Seller.   Your agent just dropped the price and from what I can see from MLS your “fully paneled home” and “checker board garage doors” continues to be greatly overpriced. 

What are sellers thinking?  These are the tactics that cause agents to detest each other.  These are the antics that sellers perform that create bad karma between real estate agents.  Drop your price and your house will sell.  Real estate agents can’t pull a rabbit out of a hat.  You, Mr. Seller, need to hire a magician not a real estate agent.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Debbie Reynolds 07/06/2012 08:09 PM
Topic:
Real Estate Sales and Marketing
Location:
Massachusetts Norfolk County Franklin Top Listing Real Estate Office Re/max Executive Realty
Groups:
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Tags:
an overpriced turkey

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Show All Comments
Rainmaker
1,892,179
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Barbara, Congratulations on the featured post. I received an email from someone recently about the same thing. They wanted to know why their house has not yet sold and gave me the mls number and I saw the same thing but did not tell them.

Jun 27, 2012 03:32 AM #44
Rainmaker
398,614
Kathryn Acciari
RE/MAX Professional Associates, with offices in Sturbridge, Charlton, Auburn, Spencer, and Shrewsbury - Sturbridge, MA
Realtor - CDPE, CIAS, Sturbridge MA Real Estate

Overpriced and under-appealing - fix the price and condition and it will sell.  So simple, and yet so many sellers think that different marketing will compensate for a less-than-ideal product. 

Jun 27, 2012 03:39 AM #45
Rainmaker
1,993,933
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

thank you everyone for your comments.... we're all on the same page with this one..... and I still say that it's the right thing to do to let the listing agent know what's happening behind his back..... he's being made a fool of by this seller...we're not best friends with the listing agent but we do business with him, have respect for him and he for us.... we want it to stay that way...

Jun 27, 2012 03:44 AM #46
Rainmaker
1,441,774
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

And that seller will remain clueless for as long as it takes to sell his house..........which will probably never happen unless some drastic changes are made first.

Jun 27, 2012 03:51 AM #47
Rainer
204,518
Mark Delgado
houses for rent, Solano County & Glen Cove - Benicia, CA
Benicia and Vallejo, Property Management, rental h
Wow. Many comments and strong feelings on this topic. I'd only contribute that we get the same type of person in property management.
Jun 27, 2012 04:11 AM #48
Rainmaker
265,979
Jay Beckingham
Premier Nationwide Lending - Port St Lucie, FL
"I love first time homebuyers"

i teach an affordable housing class. when it comes to a discussion of value i ask how many houses they've seen, and if there is any consistancy in prices. say for instance what is a 3/2 1500 sq. ft.concrete block  home in nw cape coral going for, on the average.

surprise...if they have been looking in that area they know the answer.

why wouldn't the seller

Jun 27, 2012 05:22 AM #49
Rainer
276,890
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

I love that you take the high road and called the other agent.  Many agents would rub their hands together and think that this could be a potential client.  It is a potential client but you have to do things the right way and not interfere with the current relationship.

Jun 27, 2012 06:10 AM #50
Rainmaker
892,863
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Barbara, a seller asking another agent for a second opinion while the house is already listed by another agent is asking for a problem. You handled it nicely.

Jun 27, 2012 06:28 AM #51
Rainmaker
1,252,152
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

There are always people trying to work the systems.....It is up to the professionals to protect the standards...case in point

Jun 27, 2012 06:31 AM #52
Rainmaker
722,923
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

One of those listings.  Well, I think a second and more honest opinion can help (hopefully).

Jun 27, 2012 06:46 AM #53
Rainer
50,188
Rhonda Fee
Luxury Property Agent, Home Sales, Relocation - Pleasanton, CA
Rhonda Fee, Pleasanton Realtor, Luxury Home

Imagine if we all agents had this ethical attitude! What a wonderful world it would be!! Thank you Barbara!

 

Jun 27, 2012 07:45 AM #54
Ambassador
958,440
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

Yikes!  I sometimes can't believe the nerve of some folks.  Sounds like a loose cannon to say the least.          

Jun 27, 2012 08:50 AM #55
Ambassador
475,485
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land at LA

Hi Barbara...I would not have any problem with another agent acting exactly as you mentioned in the above scenario.  I would be appreciative.

However, I would have "bad karma" if the agent did not do what they are bound to by the Code of Ethics.  That is very likely an agent that wouldn't be on my "great agent" list anyway.

Kate

Jun 27, 2012 10:55 AM #56
Rainmaker
255,968
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

What amazes me is that sellers/buyers seem to think that agents don't talk to one another...as if we aren't aware when a seller/buyer is shopping multiple agents, etc. Sorry, Mr. Seller, I plan on working with my fellow agents for another 20 years, so I don't plan on stabbing any of them in the back for you...

Jun 27, 2012 11:05 AM #57
Rainmaker
1,993,933
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

just an update.....lorraine spoke to the listing agent and brought him up to speed on what transpired yesterday.....he was soooo appreciative.... she told the agent that he could say that he was updated by lorraine....we don't care.... that's his listing and he needs to take control of this seller.

Jun 27, 2012 11:12 AM #58
Rainmaker
962,122
Adrian Willanger
206 909-7536 TheHomeFunnel.com - Seattle, WA
Profit from my two decades of experience

Barbara, you're absolutely right about not giving this seller what they want while is property is listed with another agency. Shame on him. 

Jun 27, 2012 03:10 PM #59
Rainmaker
1,993,933
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Adrian.... unbelievable....

Jun 27, 2012 03:43 PM #60
Ambassador
1,558,356
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

Barbara - Lowering the price to the right price isn't magic.  It's just something sellers often don't want to hear.

Jun 27, 2012 10:29 PM #61
Rainmaker
437,110
Lana Robbins Realtor ® Licensed Real Estate Broker
Aloha Kai Real Estate - Clearwater, FL
Tampa Bay, Florida Real Estate

Hi Barbara. It helps tremendously when sellers reduce their price but some insist that something else or someone else is the reason their home is not selling. Good to read that you do not insult other agents and instead contacted the listing agent directly.

Jun 27, 2012 10:59 PM #62
Rainer
27,873
Brian Park
Park Realty Investments - Murray, UT

Yes I have had this happen more times then I wanted but it was because I started a service for other agents and called myself the only Marketing Review Broker in X county. What I would do is go with the listing agent and review the property and all their marketing to that point which included sitting down with the sellers. The impact of a broker from another company was very useful. I charged $500 which was only payable upon relisting (Its expiration) or sale.

Word got around and some sellers that were listed would call or drop in and ask for a review. I told them this was only a service I provided for the listing agent, not the seller, and they could ask their agent to call me. Many of the agents were ones I had done business with and had a relationship so I gave a freebie, well almost a freebie, I expected them to take my wife and I out to dinner and enjoy an evening together. Cheap price for getting a house sold.

Jun 29, 2012 02:47 PM #63
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Rainmaker
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Barbara Todaro

"New Franklin MA Homes"
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