Selling in A Tough Market

You read and followed the best advice for getting your home prepared for sale.  You removed negatives by painting, upgrading flooring and counter tops.  You have wonderful curb appeal, you had a landscaper come in and make yours the nicest looking yard on the block.  After reading and watching cable TV you even had your home professionally staged.  So far so good.

Man your home is looking so good.  It is looking so good that you are sure it will sell for more than the others in your area.  Earth to seller you are leaving the path.

Until now you were doing well.  Here is the problem, if you are in one of the areas that has a lot of inventory, your home will not sell if it is over priced.  You will compete with many desperate sellers that will do almost anything to sell.

Sold SignOk we may be off the path a little, but there is time to save you.

Hire a top of the line professional Realtor to market your home.  What are we looking for?

  • An agent with a track record in the community or subdivision, who has a record for selling homes and not just taking listings.
  • An agent who came prepared for your interview with market data and a marketing plan to get your home sold.
  • An agent who spends time and money marketing homes and not just themselves.
  • Look for professional designations and licenses.  This is a clue to whether they invest time and money in training and whether they take their business serious.
  • Be sure they do this full time and are not hobbyist.

When considering your Realtor, remember this is a relationship that will tie up your property  A Realtor who charges the lowest fee is rarely the highest value.  They usually give the least amount of service.  You will continue paying mortgage while your home is on the market.  All of your plans will be on hold.  Time is money!

Look for an agent who tells you the truth and not what you want to hear.  Months from now when your home hasn't sold you will wish you followed this piece of advice.

As many real estate markets cool, it is not time to bring in the amateurs.  You will meet many desperate agents who will tell you anything to get your business.  They may offer discounts on their fees, they may promise you the moon, the sky and stars.  But in the end, will they sell your home?

As a home owner you need to do your due diligence in preparing your home and selecting a real estate agent.  Good Luck and good home selling!

 
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33 Comments on Selling in A Tough Market

Look for an agent who tells you the truth and not what you want to hear.  This is the most important advise a seller needs to hear...and take to heart. Or they will lose out.

I don't play this word game but this is the second time in the last half hour I got.....NERVOSA....I have a feeling it isn't a fruit  lol.

08/07/2007 01:20 AM by Celeste "SALLY" Cheeseman (RA), Hawaii Real Estate & Hawaii Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Sally - I walked away from two listings recently, because the sellers had unreal expectations and were not intersted in hearing the truth.  Possibly I will be hearing from them in the future when reality sets in.

08/07/2007 01:53 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy, Reality is the harshest taskmaster of all. Thanks for the post.

08/07/2007 02:02 AM by Andrew Trevino Wilkes-Barre Homes For Sale (TradeMark Realtors Group)


Andrew - I find the hardest thing to deal with is all the arm chair real estate expert friends and family who tell them what their home is worth.

08/07/2007 02:04 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Price and condition along with a Real Estate professional with a good markeing plan...not one who just practices the 3 P's.

08/07/2007 02:27 AM by Renee L Norton (Keller Williams Realty)


"It is looking so good that you are sure it will sell for more than the others in your area." 

Yes!  If only Sellers would accept the shortened version:

"It is looking so good that you are sure it will sell." 

08/07/2007 05:51 AM by Mike Jaquish Keller Williams Realty, Cary, NC (Keller Williams Realty)


Randy.... so true in regards to if your house is looking good, but if over priced in an area with lots of inventory, it still won't sell.....  usually...   People will slightly overlook the house if they can get a deal. It's just human nature.

jeff belonger

08/07/2007 06:18 AM by Jeff Belonger -- The FHA Expert.com -- New Jersey mortgage -- FHA mortgages (Infinity Home Mortgage Company, Inc)


Renee - That makes a big difference.

Mike - It is sometimes a hard sell.

08/07/2007 06:19 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy - you're too young to be so wise! You are 100% correct. In my market there are too many agents who want to "brand" themselves to get the most listings. These agents are not taking care of their listings because they're too busy trying to get more listings. The consumers in our area are getting frustrated!

I say "let's do all we can to get your home sold!" If an agent takes care of that, then the listings and money will come in. People want results....not just a pretty business card with all the fluff.

The market is slow and people want a professional who can get the job done!

08/07/2007 06:55 AM by Linda Scanlan (The Real Estate Referral Company)


Randy,

Same story of my life everyday I go on the listing call...tell it like it is...no sugar coating from ...I am tired of taking unsellable inventory.

08/07/2007 06:55 AM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)


Linda - You are right on the money.  I met a real estate agent last year while in Wisconsin.  He said he had 40 active listings in the Green Bay area and not one closing in months.  He was a dealing cards in the casino to pay his bills.

How would you like to be his client?  I wonder what his sales pitch would be to get number 41?  Signs and lock boxes must be getting awful expensive.  Instead of dealing cards he should consider getting in the sign making business.

08/07/2007 07:02 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Neal - I have made a business decision that I am not so hunger as to take a listing that I can not sell or am willing to pay for top of the line marketing.

08/07/2007 07:04 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy - the particular agent I'm thinking about brags about the fact that she carries so many listings. Her goal at the first of the year was to have 50 active listings at one time - she's almost there. But, when you go to the MLS and look at her expired listings and cancelled/withdrawn listings her numbers are way up there. I never heard her say that she was trying to take care of the client...she only wanted numbers in her listings package!

08/07/2007 07:10 AM by Linda Scanlan (The Real Estate Referral Company)


Randy - IMHO the key words "An agent who came prepared."Professional Realtors know the market, are prepared to present the facts, and move forward. They are the ones who sell houses! 

08/07/2007 07:36 AM by Gary Waters - Real Estate Agent Viera Suntree (Century 21 Baytree Realty www.moving2brevard.com)


Randy,

What a great piece for consumers, this is a winner! :)

08/07/2007 09:39 AM by Suzanne Sands-Somerset, MA Real Estate (Century 21 Associates Realty)


Very well done, Randy. I like your opening setup and reality check.

Lisa Hill

08/07/2007 09:46 AM by Lisa Hill (Daytona Beach REALTOR®) (Adams Cameron and Company)


Linda- That is sad.  Her clients I am sure are not going to give her many referrals.

Gary - Absolutely

Suzanne - Thank you

08/07/2007 02:18 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy, I agree completely with your statement about "Look for an agent who tells you the truth and not what you want to hear", and I would give the same advice in picking a Loan Officer.  

08/07/2007 09:12 PM by George Souto (McCue Mortgage Co.)


Randy-Heck yeah!  I am proud to say that I turn down many more listings than I take.  The other suckers can have the overpriced listings with the unreal seller expectations.  I dont waste my time with those.

08/07/2007 11:25 PM by 1SG (Ret) David J. Kucic Hawaii Relocation/VA Expert (Tropic Lightning Real Estate)


Randy,

Great information to consumers with a great Realtor, it is like 1,2, 3 right ? :) keep the good blog !

Ray Saenz

08/07/2007 11:57 PM by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)


George - Absolutely appies to loan officers.

Irina - Thank you

David - We all get a little wiser as we get older.

08/08/2007 04:23 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Someone on my recent post said it well..they will suck all your resources out of you then they pick the next miracle Realtor(R) and use their resources.

08/08/2007 07:39 AM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)


Neal - That sounds about right.

If the seller is not willing to be reasonable during the listing appointment, don't bet on them changing later.

08/08/2007 09:22 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy, great advise to sellers, and realtors who wish to remain ethical     :)

08/08/2007 10:36 AM by Diane Velikis Luzerne County Real Estate (Coldwell & Banker Busch Real Estate)


Diane - There are enough unethical folks out there that if they look hard enough they will find someone who will tell them anything.

08/09/2007 12:48 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy,

and what does it mean  Mahi Mahi ?   does it have a meaning ? let me know :)   there is a plate in mexico that they put that name.

Ray Saenz

08/11/2007 12:59 PM by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)


Lysa- Thank you

Ray - Mahi Mahi is a good eating fish.  I have heard it called blue dolphin or Dorado in other places. 

08/12/2007 01:38 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy,

see ? I was figuring out that thing but I was not sure at all, thanks for the answer Mahi Mahi !!!

Ray Saenz

 

09/08/2007 06:39 PM by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)


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Real Estate Agent: Randy L. Prothero  - Hawaii REALTOR® (Century 21 Liberty Homes)
Randy L. Prothero - Hawaii REALTOR®
Mililani, HI
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