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This post will not drive traffic to my website but

By
Managing Real Estate Broker

 

This post will not drive traffic to my website but it may be of value to a lot of agents and if it is maybe they will go on my Facebook Fan page and like it. For years my wife Beth has coached and trained agents and she has lots of valuable advice. One of my favorites is her 30 day follow up plan.  Would love your feedback. Here it is:

Beth's 30 day follow up plan:

Always make the sellers’ aware of the current market. Use as many visuals and examples as you can.  Let them know that you both have the same goal and that is to get their home sold for the highest price.

Let them know that you are giving their home maximum exposure and you have still had no offers or showings, as the case may be. 

Let them know that the exposure you give their home drives buyers to the agents but only they have the power to drive the agents to their home.  They do that with their price and their terms. 

Let the facts speak to them about their asking price.

Use the follow 15 steps to educate them:

1.     Review and show them the marketing their property has received in the past 30 days..

2. Show them their listing on your website, show them all the photos of their home. Ask them to look at them as a buyer would.

3.     Show them samples of the hits your sites get.

5.     Make them aware of the fact that 27000 (or however many agents are in your MLS)  have a copy of their listing.

6.     Show them samples of similar homes that were priced well and sold in the last 30 days.

7.     Show them samples of homes that were on the market for a long time and sold for so much less than the asking price. Make them aware that every buyer wants to know how long the house is on the market.

8.     Show them lists of expired listings.

9.     Be prepared to explain to them why buyers do not make offers on over priced houses, especially in a buyer’s market.

10.  Frequently use the term, “Buyers Market” as well as “Selling Agents Market” when you are in a buyer’s market.

11.  Talk and show facts. If the sellers’ argue with you tell them, “These are the facts, and the facts that I am showing you are the facts the buyers are going to be shown. What would you with these facts if you were a buyer?

12.  Do not overlook higher taxes.Taxes effect the selling price of the home.  It is a good idea to talk monthly payment to sellers’.  Most sellers think only of their selling price, they do not think about what it will cost the buyers each month, and most sellers’ could not imagine what it will cost the buyers.  As the taxes in an area go up they will have more of an adverse effect on the selling price and you must make sellers’ aware of this. 

13.  Remind them that their need to get what they want or need for their property has nothing to do with what a buyer will pay or what you as their listing agent can sell their home for.

14.  Remind them that all the facts that you have shown them are also being shown to buyers and that ultimately it is the buyer that will determine the price their home sells for.

15.  Last but not least give them a list of all the homes that have gone to contract since they listed their home.

 

All of the above should be thoroughly covered during your presentation.  MOST SELLERS’ DO NOT LIKE TO HEAR THE TRUTH ABOUT THEIR PRICE… IT IS THE JOB OF THE LISTING AGENT TO TELL THEM AND TELL THEM AND TELL THEM SOME MORE, THE TRUTH ABOUT WHY THEIR HOME IS NOT SELLING!!!  THAT TRUTH IS ALWAYS PRICE!!!

MaryKay Shumway
The Kellstrom Ray Agency, Inc. (Est. 1948) - Sister Bay, WI
Door County Wisconsin's Real Estate Expert

Nice tips!  Thank you for sharing.

Feb 24, 2012 12:13 AM
Ray Wilson
Meticulous Home Inspection Corporation - Bohemia, NY
NYS Licensed Home and Building Inspector

Good post Richard.

 

Sounds like you and wife have it together, and information is KING in this business!

 

Good luck! - Ray

Feb 24, 2012 12:19 AM
Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

MaryKay - thank you for your comment. Beth's tips are good, and trust me they work.

Ray - My wife and I have been working together for over 30 years. We are blessed in that to this day we enjoy  what we do and we enjoy doing it together. Thanks for you comment and you have a great day.

Feb 24, 2012 02:06 AM