Imagine opening your e-mail and seeing a Performance Review from one of your newest clients. What would it say, and how would you react if it wasn't a good one? We work for the Seller, but sometimes I want to say "Keep the 10%, I'll take the chickens....."
Everyday I check my e-mails.....I check them several times for the first 2 hours in the morning, and several times in the evening. I also try to check them every couple hours in the afternoon, trying to stay on top of everything. I get rid of the Spam, do a quick check of the Bulk folder......then skim the rest for anything from a current client first.
Today when I opened my e-Mail I saw this suject line: Land in Whitewater performance review. I checked the name, and it was one of my newest clients. A Performance Review, wow this was something different. I haven't had one of these since leaving a 9-5 Job.
Background: I sell a lot of land in Whitewater, close to Palm Springs. I have worked very hard over the past few years to learn the area, the resources, prices, inventory, etc. Before last October I sold just about everything I listed; many times I had the property sold before the listing agreement was even signed. That all changed sometime in October.......I even thought my phone was broken.....I remember checking it several times a day, just to see if it was working, cuz it sure wasn't ringing.
Transparency: As all of us know, the Market turned........Of course I informed my current clients, and wrote an article for my area on the changing Market....this was posted on the Internet, and published in one of the editions of the Whitewater Times (my local newsletter). I tell each and every person that calls me that land is not selling as fast as it was, and because of new fees imposed by Riverside County that builders aren't willing to pay the prices they were before. I also mention the unsold inventory of new homes.
Choices: When someone asks me if this is a good time to sell their land, I tell them NO....not if they want top dollar, and a fast sale. I tell them I would love to have all the free advertising my signs would bring, but it won't get their property sold.
If they want a fast sale, they need to seriously consider the pricing, and I give them the prices for the lots in the area. Some people tell me to let them know when things get better, others say, they'll list anyway.....it's their choice.
Commission: Vacant Land, and Mobile-homes typically have a different commission structure. I explain this to everyone when they ask "What do you charge?" Of course I tell them commissions are negotiable, but that doesn't mean I will necessarily lower mine. Again they have a choice......I am very good at what I do........and I don't believe that I should have to discount my established rates. The clients get one of the most knowledgeable, hardworking people for the area; one that is willing to do anything to help get it sold.......and this costs. I do discount every repeat client.
Let's not mention that I have worked for windows, a pool-table, a pile of bricks, some drawings, and I'm just waiting for a "chicken"...that one I will be happy to work for!!!! Love chickens.... I even did a net sale that resulted in the client getting what they wanted, and me losing a couple thousand dollars (but we got it closed in a slow market). So, I do negotiate..........
Now to my Client and the Eval: Here is the essence (names and some details changed for clients privacy)....
We are down to the wire are really need someone that is proactive in assisting us with the sale of our land. We felt with your well above average listing costs (10% compared to the 6%% everyone else in the San Bernardino
county area charges) that you were familiar with the area and were an active player in the real estate market in the North Palm Springs area. I even spoke with someone working in your office who said she was heading over there to put signs up for you as well? It feels like we are getting the run around. Since your end of the bargain has been mildly held up at best, we may look into other agents to represent us at a competitive commission rate that can get this land sold for us.
Regards,
Mr. And Mrs. Relative of the legal owner (with a cc to the owner)
* Signs had been replaced 3 times in 2 weeks due to vandalism
I have NEVER given a guarantee as to length of sale.. This property was listed 3 WEEKS AGO........
I say again, Keep the 10% , I'll take the chickens.
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What's wrong with having someone else put up your signs for you? If anything that simply gives you more time to do the other marketing and research required of a speedy sale.
You charge what you charge and if someone doesn't like it, well your service isn't for everyone. Wish them the best and part ways.