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Molly Brown Would Have Been a Listing Agent

By
Real Estate Agent with Downing-Frye Realty, Bonita Springs, FL 676419

UnsinkableNot more than an hour after I explained to someone that "I can fall down a flight of stairs and stand up with three listing contracts stuck to my back" did I receive two different phone calls about two different listings. 

Supposedly well meaning "family members" of  Bonita Springs home owners called me.  Naturally, both of these calls were made by a real estate agent/family member.  One of which is a spankin' new licensee, still wet behind the ears, the other a near self proclaimed hot-shot I can't even find in GOOGLE.  They each claim that they're looking out for the best interest of their family member.  It seems to me that the primary interest these agents have is getting the most bang (advertising) for the buck and ... oh yeah, a referral fee of course. 

If they were looking out for the best interest of their family member, they would gather factual information to help inform and educate them, not shop for an agent to BUY THE LISTING and spin their wheels.  I don't write checks to market homes that won't sell!

I'm the first person to be grateful for a referral.  I look at them as an incredible opportunity that I may not have had if I didn't get it by referral.  What I do mind is the lack of regard for my professional opinion about the market, the property values and my ability to price real estate to sell.  I'm up to my eyes in Bonita Springs real estate.  I'm out there working the market every bloody day.  So when somebody asks me for my advise I expect them to listen, at least a little.  They ASKED for help, I didn't call them.

Sellers of Real Estate and Licensee Family Members of Sellers, Listen up:

  • I don't care (neither does an appraiser care) what the house next door is "listed for".
  • I don't care (neither does an appraiser care) what the homes in the neighborhood were listed for last year, last week or in 1995.
  • I don't care and (neither does the next appraiser care) WHAT the owner paid for it.
  • I don't care (neither does an appraiser care) that the owner "wants to break even" - what an owner will "clear" on a house doesn't determine it's value.
  • I don't care (neither does an appraiser care) if you chase a ghost price, just count me out of the hunt.
  • I don't discount listing fees so you can get a referral and I can work my butt off selling an overpriced listing.
  • I don't care if you hold your breath until you pass out, I can't change the market and I'm not going to try to change it with your homes listing price.

Plain and simple, an appraisal is an appraisal.  If a home isn't listed and correctly priced, it will probably not sell in a competitive market.  If it were to sell, it will probably not appraise.  That's when the deal falls apart.  Count me out of your equation and let the next agent "buy" your listing. 

 

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Comments (65)

Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

i don't care to spend my hard earned money advertising a listing which will never be shown.

 

Jul 29, 2007 05:25 AM
delete account
Clayton, MO

Oh tnak you, thank you for this post...I needed this laugh. I'm dealing with one of my clients family members who thinks he knows everything and doesn't know much of anything,

I don't care if you hold your breath until you pass out------this one was HILARIOUS!!

Thanks lady, I needed this. :)

Jul 29, 2007 08:20 AM
Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale

I have a seller right now that agreed to adjust the price aggressively if in 3 weeks it was not under contract. Yet here we sit 80 days later with only tiny price adjustments. She is listening to family members out of state. If she wasn't a family friend.... I'd have cut her loose long ago.

I always try to say you may have shares of Microsoft stock that you'd like to sell at $150 a share. But if the market rate today for Microsoft is $125 a share you will not find someone to buy your shares at $150 a share. It is the same with your house. The market determines your house's value.

I think your analogy is a little easier to say and understand. Thanks!

Jul 29, 2007 09:11 AM
Nicki Conway
RE/MAX Alliance Group - Sarasota, FL
Sarasota Fl Real Estate

Chris

I like your blog.  You've done a great job.  I agree!  Don't accept one listing if it isn't saleable.  Why waste your money on something you can't sell.  Why waste your seller's time? 

I hope I'll have a referral for you some day because you sound like someone I'd like to work with.

 

Jul 29, 2007 12:06 PM
John Occhi
AZ Veteran Notary Services - Marana, AZ
Mobile Notary Public/Certified Loan Signing Agent

Chris,

This not only is true for referrals but Internet business as well.  I just had a young guy who got out of the Marines in Feb list his home in 29 Palms with an agent for 6 months and it didn't sell.

I ran the numbers and told him just what he didn't ant to hear - even after 2 major price drops he was still 15% overpriced.

He is close to a 2 hour drive for me - pay me and I will do what you ask.  But Marine or No Marine (I was an Army guy) you have to pay to play.

Now Have a Blessed Day,

John Occhi, Hemet CA REALTOR
Mission Grove Realty

Jul 29, 2007 01:37 PM
Anonymous
Greg Holland California Realtor
Bravo,  Well said!!! I have been getting accused of being too negative about the market, Don't you know that prices are going to be higher come spring time? lol I got that last week from 2 clients, neither of which I have the listing any longer I am happy to  s.ay
Jul 29, 2007 04:41 PM
#51
Leigh Bates
Atlantic & Pacific Real Estate - Flower Mound, TX
The Trinity Group

WOW! You put into words something I think ALL the time! I laugh at the listings that I loose to another agent willing to price it too high - then I watch as it sits on the market and they have to continue to lower the price.. Our market isn't one with that much room to negotiate due to slow value increases.

The best is when they overprice, and then get offended when the offers come in low. Gota love a little reality dose!

Jul 29, 2007 05:45 PM
Sandra Williams
Rancon Real Estate - Temecula, CA
If we all would refuse the overpriced listings, the market would be in much better shape.
Jul 29, 2007 09:51 PM
Patricia Reid
EWM Realtors, Inc. - Davie, FL
Chris, I'd like to know your response when the seller says to you, "I don't want to GIVE my house away."  Just wondering because I need a quick comeback.
Jul 30, 2007 12:07 AM
Angie Vandenbergh
Crye-Leike, Realtors - Memphis, TN
A Crye-Leike Blogger
Hi - Not sure if you saw this, but I wanted to share here just in case you missed it. This post was featured in the Active Rain Week in Review for July 23rd - July 29th. Congratulations on writing a great post!
Jul 30, 2007 12:18 AM
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Specialist - Agent
Patricia:  If the house is such a value at that price, expect multiple offers and a final sale price over list price.  The buyers will be clawing to get at it.
Jul 30, 2007 05:31 AM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Chris....  some very good and key information.  I hope other realtors read this.  Good job..

jeff belonger

Jul 30, 2007 07:03 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK
Chris, Great post and a good read. This should be read by sellers.  Did you post it so that consumers could read or only AR members?
Jul 31, 2007 12:13 AM
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Specialist - Agent
Yes, Judy, I did!
Jul 31, 2007 01:48 AM
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Chris,

As always you are right on, I love how you just say it like it is! :)

Jul 31, 2007 02:03 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Chris, I enjoyed reading your post AND all the comments. One thing is for sure, an over-priced listing costs more than money, it also costs you your reputation.

When I started in the business in 1975 it was also a buyer's market. At the time we specialized in selling houses with government financing (VA & FHA). We would "collect" $50 from the seller to pay for a CRV and wrote in the listing that the seller agreed to sell for the appraised value. It worked every time. No over-priced listings and we got sales when everybody else was just sitting around waiting for a miracle.

Bill Roberts

Jul 31, 2007 04:06 AM
Beth An Schulz
MadisonRealEstateToday.com and Bunbury & Associates Realtors - Madison, WI
Molly Brown!  This got me rollin' in the aisle!  Thanks for a great blog.  Where do you think up your material?  I love your posts.  Thanks again.
Aug 01, 2007 09:21 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
One of the benefits of our current Florida market is that it's encouraging more agents to be realistic in their pricing, or to walk away from listings.
Sep 03, 2007 01:47 AM
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Specialist - Agent

I'm walking away, alot.

Sep 03, 2007 01:51 AM
Billnulls Blog Florida Realty Professional
Charles Rutenberg Realty - Clearwater, FL
AHWD
ok, that made me smile....I have gone through that before and it is amazing the nonsense people come up with as to why the price should be what THEY think it should be......
Sep 03, 2007 02:37 AM