Tough-Love Real Estate Marketing

By
Real Estate Agent with the Kennedy Crew, Hot Springs 1st Choice Realty

I received an interesting email from Paulia Kennedy last week. She explained me, "We're really getting hammered with new listing calls lately -- seems like we've been averaging about 3 new calls per week.  It's getting to be so many, that we really have to be choosey about the properties we list.  We have been deliberately honest, upfront and realistic with the sellers.  Then after the honesty talk, some of them are deciding to hold off on selling." 

Having worked with Paulia for sometime now, I am well-aware of the integrity that defines The Kennedy Real Estate Team, so I asked her to characterize, 'honesty talks'. 

Paulia explained, "It's being totally candid on what we think their property will sell for (with no sugar-coating) and how long we think it may take to sell.  We are upfront about the true negatives of the property that we will have to face.  We come up with a plan on how to offset those negatives.  We fully explain to the seller information they may not want to hear about their property based upon our market absorption rates, our knowledge and experience.  We often suggest they hire an appraiser - especially when they are being unrealistic - or it if it's an unusual piece of property with very few comparables available."

KeysWhen the market was really lucrative, Paulia and The Kennedy Team would give a similar 'honesty talk' but they were not as adamant with their advice.  Paulia explained that they would often give in to the seller requests and allow them to start off with a higher price - as it was not as critical then.  She added, "The sellers did not seem to be in such desperate financial conditions and the buyers did not seem to be as demanding before."  In this volatile market, The Kennedy Team gives the seller the most realistic news, which more than likely is not what the seller wants to believe is the truth.  This frankness means that Paulia and The Kennedy Team can concentrate on selling only those properties, priced appropriately for their market working only with realistic sellers who fully understood the truth of today's market. 

It may also mean fewer listings but the reality is that the Tough-Love approach has meant stable sales.

Janine Gregor
Virtual Assistant to Paulia Kennedy

 

 

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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Jeff & Paulia Kennedy and Debi Jones

Hot Springs 1st Choice Realty  -  135 Mall  -  Hot Springs, AR  71913

501.655.6247 Jeff  -  501.276.4446 Debi

www.BestofHotSprings.com

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Rainer
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Colleen Cooley
The Corcoran Group - Jupiter, FL
CRS - Jupiter Florida

Thanks Jeff & Paulia. Same here... I find myself leaving listing appointments thankful the owners decided not to sell.  Many sellers are looking at listing prices when they first consider selling.  It's not until after they see the actual SOLD prices they decide to hold off.  Good post. Honesty works!

Jan 02, 2009 07:10 PM #1
Rainmaker
178,823
Jeff and Paulia Kennedy
the Kennedy Crew, Hot Springs 1st Choice Realty - Hot Springs, AR

Hey Colleen,

Thanks for the comments.  Glad you liked it. Paulia

Jan 04, 2009 09:32 PM #2
Rainmaker
264,310
Jill Watts
Realty Pro, Inc. - Vancouver, WA
Clark County, WA Is A Great Place To Live! Call Me

Paulia, I like your blog about being tough.  In our area we have 16.9 months of inventory in Clark County, so maybe our agents need to toughen up a bit. Thanks for the advice.

Jan 05, 2009 04:24 PM #3
Rainmaker
178,823
Jeff and Paulia Kennedy
the Kennedy Crew, Hot Springs 1st Choice Realty - Hot Springs, AR

Hey Jill, It seems to save us from a little extra stress that way.  Hope you have a wonderful 2009!  paulia

Jan 05, 2009 05:53 PM #4
Rainer
71,840
Bill Saunders
Hot Springs Arkansas homes for sale (Diamondhead Realty) - Hot Springs, AR
Honesty, integrity

Excellent Post!

There are far too many listings that have no hope of selling in this market. A hearty dose of sad but sincere realism is needed.

Mar 25, 2009 10:39 AM #5
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Rainmaker
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Jeff and Paulia Kennedy

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