"Adversity! Handling it is the medicine that makes you strong!"
My Dad told me that when I was a mere tot. Although he was not the first one to say something like that, I remember his words like they were said to me today. Perhaps it was because he was standing in the middle of the living room in his boxer shorts at the time. Well, I digress . . .
In today's market, which is sluggish here in Chicago and in many places, most of us agree that pricing too high is not an option. Quite frankly, the property will not sell!
Settling for cluttered, messy properties. Consenting to very low compensation, or a short listing term. Often, these are the death knells for a successful transaction as well.
In your listing presentations, you stand your ground! Speak to principal! Give them candid advice!
But candid, truthful advice these days doesn't always have a sweet taste. In the old days, say, 2005, if a seller wanted to list his house too high, you could speak with confidence and authority - "List it at market, and it will sell quickly, with a minimum of hassle to you, and at the top price." Nowadays, you're not always sure!
So, when you get a listing, and it doesn't sell - out comes the magnifying glass. "The other agent will do this," or "My sister-in-law says," or "You don't spend enough time or money doing . . . "
Or, sometimes, you don't get the listing in the first place! Who does it go to?
The agent that agrees completely with them. The agent who will nod their head to whatever the sellers say. Sometimes, often times - these listings do not sell, they expire. But, when they do - you might not get a second chance. Because there is a line of other "yes men" waiting at the door.
And, you know what? All these desperate, weak agents just build up the general notion that ALL OF US have no idea what we are doing. That we are ALL incompetent. We are all painted with the same brush.
This really hit home the other day, when, to a referring attorney, I was painted as a "hustler" only wanting to "get the listing at any price, so I can sell it quickly, and make a few bucks, and run." Folks, I've been doing this for a lot of years - but seem to have this perception problem far more often these days.
On another client, we're in mid-negotiation. A huge gap was reduced to only $1,000 after three days of negotiating. "Hey, Dean," my client said. "Your pretty successful! Why don't you cover the gap?"
"Sorry, wish I could, but I can't," I replied. "What do you mean," my client immediately responded. "I know other agents that would immediately kick in - to SAVE THEIR COMMISSION!"
Had an estate sale client, three brothers. I was referred, explained my work, but was not the cheapest game in town. Who was? The neighborhood "blue-haired lady agent," with unsold signs all over the neighborhood these days. She got the listing over our Team! How did she?
I asked the prospective client. He replied that the other AGENT told him, "All of us agents are alike - we really don't do much of anything differently than each other! It all comes down to who lives here in the neighborhood - and, I AM the cheapest alternative for you."
When houses sell, quickly, without hassle, and for a good price, you are an immediate hero. When they do not, despite your best efforts (without useless make-the-client-happy activity), you could be perceived as a bum. And one of the very troubling reasons why - other Real Estate Practitioners are very eager to put you down - and, at the same time, put all of us, collectively in the profession, down.
I would love your thoughts, shares, and suggestions on how to deal with the "desperation" agents creating a bad rep for us all. Try not to get too "keep your chin up" motivational here - this is a growing problem which needs to be statagized today!
We're all waiting!
DEAN & DEAN'S TEAM CHICAGO