I have closing today. This house has only been on the market for about 2 months with me and sold for a little under market value. The issue is, it was on the market with another Realtor for 6 months and didn't sale. From what I could see, it wasn't from pricing, but from neglect.

This property is Investor owned and was purchased to rent for a year, to avoid short term capital gains, and then to sell for a profit. Fortunately, it was purchased at the right price and he will achieve his goal.

The reasons it had sat on the market, prior to me taking the listing, were:

1. Out of area Realtor (way out of area).

  • 2. Very low co-broke being offered.
  • 3. Condition of the property. I.e. dead bugs, unflushed toilets, scuff marks all over the vinyl flooring, 3 ft grass.
  • 4. A key that wouldn't open the front door (needed lubricating).
  • 5. Real Estate sign laying on the ground.

All of these issues were very minor, but if they didn't exist, would have made the difference between selling the house or the house sitting on the market. The Investor would not have had to support it for 6 months. The Realtor would of gotten paid. And the neighbors wouldn't have been upset over the condition of the yard.

This property is the perfect example of why it is so important to choose a Realtor who is in your area. And as a Realtor, don't take listings you can't service. If you are not able to check up on it at least once a week, don't take it. Just because it's an absentee owner and "they won't know" isn't an excuse. In fact, it's even more of a reason to be able to check on the property.

The Realtor who had the listing before still has not picked up the sign or removed the lockbox. He probably doesn't even know, or care, that the entire neighborhood is talking about him, and the company he works for, in a negative way. Not only did he neglect this listing, but any shot of getting future business from this neighborhood is gone. I don't know about you, but that's an awful lot of negativity, to not even have gotten a paycheck.

So folks, if you have to do a MapQuest to find your listing and stop twice for gas, then.................pick up the phone and make the referral!

 

8 Comments on Excuse me sir, do you know how to get to..................

AUG
22
2006
258,673 Points 77 Featured Posts Localism Sponsor Outside Blog

You are so right. My other pet peeves:

  1. Out of season photo--nothing like saying, "gee nobody else has wanted this house since there was snow on the groud."
  2. No interior photos
  3. Lazy comments.  Gee have you ever been in the house, mr lister?  I know it was a 4br 2 ba, but what else can you tell me.
Congrats on the sale.
10:28am • #1
Excellent thought every one should read and follow good advice.
12:21pm • #2

Really good post, But you know what, I've seen a bunch of those listing agents out there, they even take listings in other cities.

Now that's crazy.

2:02pm • #3
156,797 Points 18 Featured Posts Localism Sponsor Outside Blog

Bryant,

After reading your post and thinking about a recent listing I had that every buyer and agent got lost finding - it was on one of those crazy streets that stops then starts then loops around, I decided that the seller probably hired me because I was the only REALTOR that didn't get lost and made it to the listing appointment on time.

3:41pm • #4

Bryant,

Great post.  I hate it when a seller has a bad experience with one REALTOR and then they hate all of us.  Your investor obviously knows the importance of having a good salesperson. 

3:57pm • #5
AUG
23
2006

 

I am selling 3 and four bedroom homes here in Ireland for the last 10 years and my question is because house prices are going up 15% per year over this period, What is the best way of farming my area, because there are a lot more agent in the game now.

 

John

6:35am • #6
609,659 Points 244 Featured Posts Localism Sponsor Outside Blog
Hi John, Ireland is a little out of my market area, but I would assume just like in the States, it's all about pricing. A properly priced home will sell in just about any market. Hope this helps 
10:10am • #7
14 Featured Posts
Nice post.  25% for doing basically no work is a lot better than making yourself look like an ass, and getting 0% for doing no work as well. 
2:53pm • #8

Leave a response…



(optional)
What does the graphic say?
 
Pic21 Rainmaker_large

Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc

Poinciana, FL

More about me…

Bryant Tutas-Tutas Towne Realty, Inc

Address: P.O. Box 969, Dundee, Fl, 33838

Office Phone: (407) 870-9003

Cell Phone: (407) 873-2747

Email Me

Florida Property search

Bryant Tutas

Create Your Badge

SHORT SALE TRAINING

Taught by Wendy Rulnick and Bryant Tutas

$97

Listen to a sample of the 5 part webinar:

Delivered by FeedBurner


Visit Short Sale Superstars

All original, all the time.          Broker Bryant's ramblings on    Real Estate in Poinciana, Fl

 


Tutas Towne Realty, Inc
Tutas Towne Realty, Inc
Visit TTRealty Network

free web counter
free web counter



Links

Archives

RSS 2.0 Feed for this blog

Find FL real estate agents and Poinciana real estate on ActiveRain.