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It’s always best to be the 1st Born, 2nd Wife & 3rd Realtor!

I never thought I could embrace this belief, but the sellers of today are forcing my hand! I'm like the girl who dates the womanizer thinking I have what it takes to change him! Uh huh... Sure... Right!!

I have come to the conclusion that we are all going to need to become skilled in the art of turning down business (for while at least).

I don't think any of us can dispute the fact that overpriced, unmotivated sellers are a recipe for disaster. We all know this type of inventory will suck the life right out of us.

Therefore, I have vowed to walk away from any seller that meets the following criteria:

1) Overpriced

2) Unmotivated

3) Uncooperative

4) Believes they know more about selling homes than I do.

My response will be polite, cordial and as politically correct as possible.

"Mr. & Mrs. Seller, I would rather say no to your business today rather than disappoint you tomorrow. Thank you for the opportunity. I wish you all the best."

Posted by Sue Nelson, Broker/Associate Las Vegas Real Estate ~Team Rhino~ on 07/29/2007 11:11 PM

Comments (71)

las vegas, real estate, clients, attitude, due diligence, representation, belief, spirit, suesellsvegas, homes, selling, localism

Post is included in group: Realtors®

71 Comments on It’s always best to be the 1st Born, 2nd Wife & 3rd Realtor!

JUL

2007

Sue, I like your stance, so far I have been able to work around this, but I'm sure there will be a time when I will need to do it. I have fired buyers though! My best to you!

Sue, I like you tag line, I think it is beautiful. I think of these types of lines all the time. I never remember them or say them, but I think of them! They usually come about on my way to and from work!

David: We had to let go of 4 listings last week. I hated it... but truthfully, I shouldn't have taken them in the first place. My fault.

Jonathan: I think of stuff all the time while I'm driving too!! I need to start carrying a tape recorder!

Good luck! I haven't gotten to that place yet, but can only imagine how hard the first few will be to turn away!

Just turned down a listing because the owner was convinced his house was worth 50,000 more than comps would support or that had been sold ever. Another agent said he could sell it. I would not be doing my client or myself any favors in taking that kind of listing. In the long run, my reputation is going to be the difference in a long term successful career.

Dawn: It's a lot easier to turn them down than it is to fire them after the fact. Just FYI. May all your sellers be motivated & cooperative.

Brad: Short term gratification never replaces longevity! Good job.

We agree with you. Have fired two recently... and more might follow. Of the two we fired, one knows our business better than we do, and the other one has an Aunt that does. We suggested they go find another broker and agent, you know... who haven't shown or sold your overprice house either.

Truth is we shouldn't have taken it, but they agreed at first to start dropping an appropriate distance out, but before that could happen, they proved to meet 75% of your four points above in spades. Especially #3.

Thanks for posting this. We do have a choice, and ours these days is nice people we like, and we hope our character ticker is working.

Cheers...

Gary: That's where it gets tough... they start to cooperate and then change their minds. I have to remember to keep my "character ticker" tuned up!

JUL

2007

WOW Sue!! I love it!! This is great. I definitely agree with you sometimes you have to turn down business. I think its better in the long run than to waste time and energy on both sides and sometimes damage a good working relationship. You also dont want to give false hope to a client in hopes of selling. I think you have to be firm and sometimes say no if it is not right and if you realize its not working then sometimes you have to fire them.

I love your post and wish that more people would embrace your idea. I also wanted to point out that there is one small typo: "have come to the conclusion that we are all going to need to become skilled in the art of turning down business (for while at least). " Just does not read well for me.

Sue---do you remember when the market was insane just a few years ago?

I spent months going after a very busy two-woman team, here in Vegas, to earn their referral business. I couldn't get them. I ended up on the other side of a transaction with them and made sure we did a phenomenal job.

The next week they invited me to meet them at Starbucks (isn't that where all lenders and agents meet for the first time?). They told me their current lender wasn't "attentive" to their needs.

They gave me six loans that day totaling about $2.5M. I was psyched.

They made my life miserable from that day on. They were incredibly high maintainence. They would stop by my office all the time unannounced. If I was in a meeting or loan app, they would barge into my office. They pulled me out of a staff meeting for updates. They demanded my home phone number and would call me at 10:30 at night at home. They would berate my processing team and the receptionist.

One night, after they were done with a late night listing appointment, they called me and asked me to if they could come to my house at 10p to go over the loan status. I regretfully obliged.

It got to a point where I could not service my other clients. I had a meeting with them to let them know that our relationship couldn't work this way and that they had to have some confidence in me and my staff and we needed business boundaries. They didn't get it at all, in fact, I think I offended them, and the intensity of this remained through all six closings.

On the sixth and final one, they called me to thank me. I let them know that we could no longer work together.

Sorry for the long story but the point is sometimes you have to say "no" to business and feel blessed when you are able to do it.

Good for you, stick you your guns and you will have a happy life.

There are so many ways to waste your time (life and money) out there right now. We have just been taught how to turn down business but now is the time to learn! I hate the ones that think they have all of the answers and know more than we do about selling!

Kimberly: The concept of turning business away is new to most agents. I don't like it, but sometimes it is necessary.

James: Thanks for the feedback... I've read & re-read it and can't find a way to modify the sentence that I like. Any suggestions?

Aaron: Yikes!! I have to admit, those are the clients I don't mind letting go... although I still keep them longer than I should!

Darrel: A happy life indeed is my goal. :)

Sandra: I prefer the clients that respond to every question by saying.. "I don't know... You're the expert"!

Sue, great post. Like a colleague of mine always says, "Not all business is good business!" In my career as a mortgage loan officer, I've had to learn the art of saying NO. It is a very hard thing to do, but very necessary in our business. Good luck!

Definitely - you need to know who your ideal client is and actively pursue them and let everyone else go to someone else.

Angie: Isn't it interesting that more necessary it is, the harder it seems to be?

Christina: Just don't kick me to the curb... we really are leaning towards buying in Coeur d'Alene! <wink>

HA - no way - I have so much info coming your way you'll be browsing until 2010 :D

Sue, You really have a gift when it comes to your writing! I feel like I speak well and I read your posts intenetly because I know I will learn from everyone. Thanks.

Christina: I'm looking forward to it.

Steak: Thank you... I appreciate that!

Your right on the money.... your the best!

now what comes after the 3rd realtor?

Robert: If I'm the 3rd Realtor in & it doesn't sell... OH MY GOODNESS! I shudder to think!

Good post , I absolutely in this buyers market will not take an overpriced lisitng. There are many in the business that have repurtations for it & it does an injustice to the seller & helps sell the other properties.IT wastes everyones time. I am slower this year because I have less listings but when I checked my sales were up. Quality listings are better than quantity.

I will not take a listing that I think is more than 10 percent overpriced. I don,t have a problem telling seelers they are not being realistic because I value honest. But I do have problems cutting loose buyers that I know are just wasting my time because I hate being rude.

Karen: I'm all about QUALITY in this market. Great point.

Hugh: 10% is actually TOO much in our market. Depending on how you search & the areas, we have over 26,000 homes to choose from. My minimum standard now is AT or BELOW market value. I may even turn it down as little as 5% above market!

Just had a chance to read this. Well said!

I'm such a people pleaser, I got into these situations with my first two listings. I have one back, after the sellers realized they priced it too high. Thank goodness :)

Lexa

JUL

2007

That is darn good advise!!

Sue, I'm with you.

Lexa: Good for you for recognizing that!

Rick: Thank you!

Donna: It's good to know I'm not alone. Thanks!

Sue - unfortunately when an agent is new to the business it's hard not to get caught in the trap of taking listings you shouldn't at prices you don't believe in. I think most of us have done that at some point if we are brutally honest. I know I have - and I've kicked my own butt every time.

I currently have one on the market that I took as a favor to a colleague. The unit is overpriced by about $5,000 and I have tried relentlessly to get a reduction. No go. Today the seller called me and was bellowing about how it's not moving, no showings, etc. and all I could say was, "You know...I warned you about this some 4 months ago. You demanded to have it your way. So you now have it your way."

He isn't pleased but he's certainly becoming a little less confrontational about his own decision.

AUG

2007

Carol: It's tough to convince newer agents... But sadly, they are the ones we need to convince the most. A bad listing can turn an agent sour on our industry really quick. I love your response to your client. They need to be careful what they ask for.

The interesting thing about turning away a seller is oftentimes they then want you even more!

Angelica: Yes... That's when it gets FUN!

I guess we have all been that situation before. Sellers just wont listen to the truth sometimes.

Vicki: I've learned that very few people want the truth!

Very good advice! :-)

I absolutely believe in your response <<My response will be polite, cordial and as politically correct as possible>>

Never burn a bridge!!!

British Homes: Thank you!

Loreena: NEVER burn a bridge... YOU are absolutely correct.

That is TOO PERFECT - thank you for a smile and great advice

Susie: I've always loved that saying. Being the 2nd wife is working out for me, I can sure tell you that!

"Mr. & Mrs. Seller, I would rather say no to your business today rather than disappoint you tomorrow. Thank you for the opportunity. I wish you all the best."

I have been looking for the right way to say this. Thank you.

Marjorie & Doug: It's not easy to say it, even though sometimes it needs to be said.

AUG

2007

I will turn down a listing when the seller is unrealistic. They usually think they should get as much as a couple houses up the street that have granite, gameroom & a pool when they have none of these.

Sue, Way to go. I too have turned down listings both before the contract and after. I think it shows a sign of professionalism for your business. You are a reflection of what you sell and what buyers you work with. Some towns, especially mine, are very small and rumors don't take long to spread. A bad listing is a bad listing......period.

Kudos to you for taking a stand.

Candy: If they could just "see" it the way "we & the buyers" see it, they would understand.

Beth An: So true!! I'm not a believer in even bad publicity is good... I'd rather NOT have my name attached to it.

AUG

2007

I wish I would have read this post yesterday! It may have inspired me to turn down a staging job. I have the attitude of trying to always see good in people, and try to help them out. However, it does, as you said, suck the life out of you! I am going to take your advice in my realm of business, and learn to say "bye-bye" if I need to.

Julia

Julia: It takes some "getting used to" and is certainly not easy to turn away business. However, it's important to remember that it is an option for us so we can protect ourselves when necessary.

Hello Sue;

I am celebrating my 30th year in real estate. I agree with your statements 100%. Particularly in the current market on the east coast, a buyers market, a glut of available housing. An overpriced listing, unmotivated seller is a recipe for a nightmare. A monkey on your back. Surely at the least a situation that will be negative and bring you down.

I did enjoy your blog and will pass it on to other realtors.

Nancy Gray

I've been using this line. I think it's true, but even if it's not, it makes me feel better.

Sounds assertive and I hope it does you well!

AUG

2007

How timely! I have just been trying to figure out how to turn down a listing because the seller thinks my price is too low. I like your suggestion and will use it soon!

Nancy: Thank you!

Ann: I know it makes me feel better & I do believe it's true!

Gabe: It allows me to sleep at night & that's good enough for me!

Diane: Hmmm... I'm not sure someone could price something TOO LOW for me! :)

Sue, right on!! I have to turn down listings on a frequent basis. I do think, however, that sellers are starting to get more realistic. Those that I signed up in January - after having turned down other offers - are now wishing they had taken them.

Teri: I have some sellers that are having regrets as well, but I am finding that the majority of them are still in complete and total denial. Sad.

AUG

2007

If we would all start doing this as agents, the profession would be elevated to new heights, and homeowners would have no choice but to listen to what we are saying. I believe that this is the ONLY profession that gets hired to do a job and then gets constantly second-guessed by homeowners that think that they know more about selling a home and the marketplace than we do. Still, almost 90% of all homes sold are done with the help of an agent. I have fired people also. It's really stressful as you're thinking about doing it, but the day that you let them go, you feel like you do when you make a big sale!

Sue, be thankful that you only dated the womanizer, I married him! Yes, I think we should be upfront with the sellers and I loved what you have said. Great post.

Adam: And boy could our industry stand being elevated couldn't it?

Dianne: Thank you! I'm afraid to ask if you've tamed your womanizer!

AUG

2007

I am so there...did just that two weeks ago for first time...felt great!!! Now I wait and watch to see if my gut was right...

Sally: My recommendation is "don't look back", "don't second guess yourself". Focus your energy on new clients and new business. If the other one sells, so be it. You had the "THAT FELT GREAT"moment! You can't put a pricetag on that. Not to mention, if you second guess yourself and think you were wrong - you will hesitate the next time & the time after that.

Sue, thank you for the uplifting words. I should mention that I am the first born, was the second wife (widowed) and as of the weekend am the third realtor. Just got a great call from my sellers...they had their first showing moments ago (on my listing) and they are very happy and encouraged. I'm sold on the concept!!

Wow Sue,..!! Those are the perfect words to say in that situation. Hopefuly, They will realize it later and recongnize that you were right..!!!

I'm a loan officer, but will encourage my agents to do the same.

Sally: That is AWESOME! Congratulations!

Roberto: Thank you!! I think they always realize I'm right... they rarely verbalize it though! <wink>

I'm going on a listing presentation tomorrow, and have heard one of the spouses believes their home is worth $500K more than it really would sell for in today's market. Sure, I'd like my sign out front, but I am fully prepared to walk away if they are not realistic. Afterall, this is my reputation too!

Thank you for this advice. It is well needed in this market!

Noelle: Oh my goodness... Good Luck ~ Be Strong!! A listing that won't sell can be VERY expensive!

Jean: I try to remind myself all the time... Good markets & bad.

Well said!

AUG

2007

Thanks Jody!

Jody:

What an excellent post. Totally agree. Here's another idea. Go through your inventory and see who is ready to sell in the next 30 days by completing two forms one that reduces the listing to a saleable price and one that cancels the listing and ask the seller which one they want to sign. Either way you win. The unreasonable seller needs to be fired and the reasonable one gets more of your time, attention, and ad budget. In today's market "the more the merrier" is not going to work when it comes to listings.

CJ: I like that idea a lot. We have dumped over 20 listings in the last two months... We've sold nearly 20 also by making the sellers understand what needs to be done to be successful in this market.

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