Brittany Cook (permission to use her real name was given) is a local REALTOR®, and I was honored to teach Brittany her pre license class, as well as her post license class. When I first met Brittany, she not only struck me as being intelligent, but she also struck me as a woman who would stick to her guns and fight for what she believed was right.
The other day I was working on blogging for the week. I came up with Monday’s and Wednesday’s blog, but drew a blank for Friday’s. As I was sitting there in a conundrum, Brittany who, by the way, is about a gazillion months pregnant, texted me and out of the blue, she said she had an idea for a blog if I was running out of things to write about. It was bizarre! There I was, trying to come up with another subject, and bingo, Brittany Cook texted me with an idea.
So, in a nutshell, Brittany asked me to do it, so here is one of Brittany’s pet peeves, as well as one of yours I’m sure.
Brittany goes to a listing appointment, she prepares a CMA. Now, I know Brittany’s CMAs are accurate because I used to coach her when she was newly licensed. She goes through her presentation, and the suggested listing price is presented and backed up by comps. Short version of the story is that the sellers decided to list with another agent who priced the home at $50,000 over and above Brittany’s listing price! Now, I can see a difference of $5,000, maybe even $10,000, but $50,000? Wow! Needless to say, Brittany was frustrated and bothered for the sellers because the house most likely will not sell for that price. Even if Brittany’s suggested listing price was low, a $50,000 different is monumental.
TEAM Hughes Real Estate School teaches law, math and principles and practices needed in order to become licensed. During Post License class, we present some serious training. When I practiced real estate, I prided myself on being a good listing agent. A favorite mottos is, “He who lists, lasts.” That’s not true, though, if an agent overprices listings just to get an inventory. What good is an inventory if it doesn’t sell? Brittany later discovered that listing agent has overpriced before, so there may be a pattern.
Yes, Brittany asked me to do it, but had she not asked me to blog about this, eventually I probably would have. I don’t practice real estate anymore, but I do still adhere to the most basic and important rules of the industry, and one of them is to teach my students that winning a listing by overpricing it is not fair to the sellers, not fair to other agents, and most definitely not fair to themselves. Get some good training. Let me teach you in our post licensing class that starts February 1st! TEAM Hughes Real Estate School
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