It's easy for people to say, Never Take An Overpriced Listing. Everybody knows not to do it.... But is it really that simple - especially when you want listings to be the meat and potatoes of your business? I've learnt a few good lessons from this:
While I do agree that we should never take an overpriced listing, what I learnt most importantly is to never say the word, Never.
So, going back to listings and overpricing, the word should be it depends. Broker Bryant wrote another exceptional blog on this very topic: Flexibility is the key.
First of all, test the motivation. Again, all Sellers project their motivations differently. I've had a Seller who told me that she needed to sell her house YESTERDAY. Listing with a different agent who promised her a more aggressive marketing plan than mine (that was what she said I lost out to) and almost 5 months later, it's still not priced correctly. So, how motivated is she really is? Nevertheless, motivation is the key to whether or not you might consider taking the listing.
The next big thing is price. Again, Broker Bryant said, It's not telling you, Mr. Seller how much it's worth, but how much we need to price it in order to move it...... (He wrote another blog about this, but I'm not sure where to find it now!).
Remember that having lots of listings is not good for your business or your health. If you were like me and that you send a weekly report to all your Sellers with showings and feedbacks, new activities (actives, pending and solds), suggestions and recommendations, this report itself takes me 3 hours to prepare. Just imagine if you had 10 of these, or 25 of these (the non-selling ones!)..... All you would be doing is reports ALL week! Having them motivated and priced correctly is the key.
Not all listings are saleable. I need to tell myself that. So, even when times seem dry, I might just spend it with my 4-month-old. It's all good.
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