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ClosingsIn the Atlanta area, one thing that has changed in the way we do business is that more than ever it is critical to determine the motivation level of Atlanta home sellers, and the financial qualifications of Atlanta home buyers.  It is one thing to list a home in a really great market gambling that someone will buy it, it is just a matter of time.  Thinking like that will rationalized listing the home at a slightly higher than market value waiting for a particular buyer.  Time was on our side.  It was the same thing with Atlanta home buyers,  Sometimes you could pass on asking too many qualifications, and making a pest of yourself and chance losing the buyer.  You don't want to ask too many questions in a really hot market!  But times have really changed, and it seems as if there aren't enough questions to ask a buyer before opening doors for them and taxing them around town.  And after they are qualified?  How about a signed buyer agency agreement or you are not going in my car!

Both groups have one thing in common in this market, homes are not selling as quickly or sometimes not at all, and financing a home mortgage has changed dramatically.   For new agents, they have not yet connected all the dots, and cannot see the big picture.  Once they can, they will see that they may just be wasting their time.  Taking a 90 day listing in a market with an average of 120 days to sell is like driving across the dessert with 15 gallons of gas ...knowing it will take 22 gallons to drive across.  Not too smart! Pricing a home above market may mean the home will never sell or get any showings,  irate home owners will harrass you for not being able to get their home sold.  They will trash your reputation with everyone they know.  It doesn't matter that the home is over priced, it is your sign in the front yard that spells out "LOSER!"

If you work too many unqualified buyers, the resentments of not closing a deal or wasting valuable time, gas, money, wear and tear on a car and a loss of business turned away...will eat you up!  Burn out!  And whose fault will it be?. 

Jim Crawford

 

 

 

 

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18 Comments on I Need Motivated Sellers, and Qualified Buyers!

Jim - It took me about 3 times to get burned by a buyer to learn to NEVER take them to see a house without 1. Buyer's Rep Agreement AND 2. Prequalified Letter.  I don't want any more of those time stealers!

10/13/2007 12:53 PM by Linda Scanlan (A Fan of AR)


I would be interested in a nice way of putting that to a client without causing friction or making them angry

10/13/2007 01:59 PM by Todd Moeller (RE/MAX Real Estate Services)


Linda Scanlan  I think all too often we learn by doing, and making mistakes.  If not it is just a new definition of insanity.

10/13/2007 02:18 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Todd Moeller  Just present the facts to your clients honestly, and truthfully!  That is always a good start.  Those times in life where someone told us "This isn't going to hurt!"  Was really a lie!  If someone were to have told us, that it going to hurt a little, but the pain would go away quickly...that would sit better with us.  OK, how else can you explain to a person there home is only worth 235K, and not 260K?  The answer is objectively, and factually.  Why any other way?

10/13/2007 02:22 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


I'm guilty of not using them...we have been pretty lucky. I mostly list so I really do not worry about them..but I encourage me buyers agent to have them signed.

10/13/2007 03:31 PM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)


Neal The Real Deal Bloom I thik we are all used to coloring outside the lines, but when you have to watch budgets, and protect your own sanity, it makes sese to redifine the way we do business.  years ago we'd sit down and qualify the buyers...I've not done that in a long... long time!

10/13/2007 03:38 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Jim, Another great teaching tool. You must have shamed agents into not commenting on this post. LOL

10/13/2007 09:29 PM by Gary Smith, Realtor® (RE/MAX Platinum)


Gary Smith, Realtor  I think we are ll guilty of this I know I am.  Given the current market conditions it is now imperative to do so.

10/13/2007 09:56 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


LOL. So why don't you tell us what you really think!?!

10/14/2007 12:47 AM by Lisa Hill (Daytona Beach Real Estate) (Adams Cameron and Company)


Jim, we have to adjust for the times. I like the point (I think many have missed it) that if homes are 120 DOM then why a 90 agreement....

10/14/2007 08:30 AM by Charles McDonald / Your Trusted Broker for Charlottesville Real Estate (RE/MAX Assured Properties)


Great points Jim. "You must be green Before I turn on the machine"

10/14/2007 08:59 AM by Keith Perry - REALTOR® -West Metro Atlanta (Coldwell Banker)


Lisa Hill (Multi-Million Dollar Producer  Lisa I also place myself in the group!  Have you ever heard the story about why we should journal?  Once things are put into writing or paraphrasing into a Blog that ideas are no longer abstracts and intangible, but solidify the resolutions. Similar to writing a business plan.  Writing allows us toobtain  clarity, focus, and resolution.

10/14/2007 10:19 AM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


- CHARLES McDONALD  I agree fully!  Times have changed a lot!  In this market we should be taing 120 days or longer listings.

10/14/2007 10:20 AM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Keith & Robin Perry Thanks!  I know there are a lot of readjustments to the way we do business in a changing market.  These ideas allow us to be more productive, have more free time, and give us a good quality of life

10/14/2007 10:22 AM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Some agents need a little slap on the wrist from time to time...and many agents need to be slapped over and over again because they keep doing the same thing! :)

10/17/2007 08:40 AM by Kelly Sibilsky ~ Lake Zurich RE/MAX Real Estate Agent (RE/MAX Unlimited Northwest)


Kelly Sibilsky~Lake Zurich RE/MAX REALTOR® I think we all need to be reminded sometimes that we need to return to the basics.

10/17/2007 09:15 AM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Pretty pestimistic view of the current market. Things aren't so bad here ....guides have changed, but people still need home and loans. Maybe things are much different in Atlanta.

10/17/2007 10:29 PM by Christopher Ohlsen (Lake City Mortgage)


The current market here is not good right now.  115000 Active listings.  Selling maybe 4500 a month!  Over 7000 a month expired listings + withdrawns.  No it is not a great market right now.  But Atlanta has low prices and low taxes, chances are that we will turn around much quicker than most markets.  We did not have the run ups in prices as most markets.  We have 4 seasons and no snow.  You can golf year round.  You can buy a lot of home for the money, withholding taxes are a lot less than New York also.  Property tax is about $2500 on a 350K home.

10/17/2007 11:40 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


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Real Estate Agent: Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)
Jim Crawford ~ Atlanta Real Estate-ABR E-PRO
Atlanta, GA
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RE/MAX Greater Atlanta

Office Phone: (770) 238-0122
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Atlanta real estate broker associate, real estate columnist for www.RealtyTimes.com, real estate speaker. Real estate marketing, Internet marketing for real estate, real estate coaching