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No Thanks! I Don't Need the Money that Bad...

We recently received a call for a free CMA in a subdivision where we sold a home years ago, but not recently. The reason we were called - was that we show up first on the Internet for many areas and subdivisions in the Atlanta area. They wanted us for that ability to market to the broadest possible audience. However, the conversation quickly turned. Right away, the seller was confrontational, demanding, and very persistent about getting the listing only on their terms Here is a little overview...the seller purchased the home less than a year ago and is looking to make a cool 100K in profit flipping a home they have owned for less than a year in a very flat real estate market. That is not an EZ task even in good times. Anyhow...we planned to go over and check out the house when the seller inadvertently told us they had already interviewed some friends of ours in the business. We vouched for our friends abilities, and shared personally that our friends probably never even came close to the listing price the seller was quoting to us. When we asked the sellers why they did not list their home with the other agent, we were informed... that the agents would not list the home at the price the seller wanted. So in other words the selers wanted to waste our time and get a confirmed price opinion so they could go ahead and list with someone that would do their bidding. We surprised that seller by telling them we were not interested in taking their listing. Why waste the time, effort and gas to meet with a seller?

Experience has shown us, that the prize is not winning a listing, but in getting the listing you would like to have. It is much more important to maintain your good self esteem, keep your peace of mind and value your serenity. Money, or the promise of a commission 6 months from now and working with a demanding client is not a good substitute for those more wholesome values. It is good to know that even in slow times that you can be comfortable knowing "I don't need the money that bad!"

The moral of the story? Before making an appointment, it is very important to listen to what is being said, otherwise you will allow yourself to be used!

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 06/03/2008 06:53 PM

Comments (49)

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Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: No Thanks! I Don't Need the Money that Bad...

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49 Comments on No Thanks! I Don't Need the Money that Bad...

JUN

2008

Here, here!!! It doesn't happen often enough.

Lenn Harley, Homefinders.com, MD & VA Real Estate Thanks! We do it often. Sellers need to be realistic, and informed. If they start off on the wrong foot it is a disaster for all for the listing period. Our experience shows us...it is better to pass up listings like these, and even forgo the opportunity to refer them to those I despise.

Thanks for doing that! Too many Realtors will take an overpriced listing, just for the sake of having a listing. Too many overpriced homes on the market right now....and who is to blame?? hmmmm??? In my opinion, it is doing a DISservice to clients by taking their listing if the property is not priced right from the start.

Kara Casamassina (The Carolina Real Estate Company) I totally agree.

I guess gas prices are going to kill a lot of deals nowadays. It is good when you can pass a seller who just wants to test the market on your dime.

Jim~ Those kind of sellers that dictate and won't take heed and listen to your reasoning and experience are just looking for an order taker, I say NEXT......

Jim,

I always interview any prospective client on the phone prior to setting any appointment. If you ask the right queations, you will be able to determine if you will get the listing and more importantly if you want the listing! Many times after speaking to a potential listing I too have decided,"I don't need the money that bad!"

Mike Kelly

I had a phone call like this last week. I know the person and they were dumb founded that I didn't want to work for free on top of it? Couldn't understand that I was not desperate enough to run right over and sign them up? Oh yeah, with a price about $150,000 over market that has been on the market for a year with one of the FSBO companies with no action, hello? No thanks.

Gene Allen Realtor Hampton Roads Real Estate (Resh Realty Group) Not on my dime! LOL!

Owensboro,Kentucky- Real Estate-Vickie McCartney,Broker,ASP,ABR,E-Pro (Home Realty GMAC RealEstate,Owensboro,KY) "NEXT!" Can be music to my ears!

Sellstate Advantage Realty I like to consider myself the interviewer.

Audrey June-Forshey, GRI, Gaithersburg, MD (RE/MAX Realty Group) I agree! "No Thanks!" Why not a nicehot poker in my eye instead? Also, we will never do a dael for nothing.

Hi Jim... there must be a lot of this type of thing going on. I have had several calls like this. It is important that even in a market where many agents are trying to capture more business that we are realistic in the business that we choose to take. Even if we get a listing like this, the money spent out of our pockets marketing an insanely overpriced listing will be money lost if the property doesn't sell making this practice sometimes quite costly.

Steve Shatsky - Dallas Real Estate & Short Sale Specialist (Keller Williams-Dallas City Center) Costly is one word for it suicide is another. Sellers want you to do the work for almost no commission. Since the sllers know everything about home values....That is why we have FSBOS!

Good post Jim, way to stand up and not let them use you, more of us to to take a similar stand

Why on earth spend your money marketing an overpriced listing, dissapointing the seller, and having them spin a tale of woe about your inability to sell the property? No amount of marketing is going to sell a house that's grossly overpriced - plus it will all fall apart at the appraisal. It's a total waste of resources. Stick to your common sense!

BART WHITMORE REAL ESTATE CONSULTANT (THE REALTY MARKETPLACE) Sometimes when business is really slow and it very stressful, you ask yourself..."Do I need this?" "Do I need to be treated like this?"

Alyce Martin (Keller Williams Realty) I agree, it does not make any sense. That type of seller will also bad mouth you for not selling thehome. I love to work with folks that appreciate the efforts and strategies we employ to get the job done. The difference is that they are grateful.

JUN

2008

Jim, I know what you mean. So much of what we do is behind the scenes. It's great to be appreciated. I have been very lucky to have some fine people as clients who turned out to be friends. Can't beat that.

Great post Jim, we are with you 100% on this one. In the end you would be frustrated, cost you money to market it and you'd be the bad guy since the house won't sell.

Great story, Jim. No realtor should have to endure high blood pressure from an unrealistic doofus like that, either. Super thoughts for all of us. Hope your having a fine week.

Alyce Martin (Keller Williams Realty) More than luck, you've been blessed! I agree! We need to stop looking at real estate as "Units sold!" Sometimes we can be far more productive if we do not have the anchor still in the water and wondering why we cannot win the race. Dead weight (Homes that will not sell, and abusive parties) mentally robs us the volition and momentum to achieve more in our careers.

David Saks (The Real Estate Mart of Tennessee, Inc.) David I totally agree wiht you. I am having a great week because we try to make the right choices.

As usual Jim you right on the money!! Keep it up - I always enjoy reading your blogs and Thanks for all of the great info.

Kathy Carson, RE/MAX 1st Olympic

Kathy Carson Lynchburg, VA, RE/MAX REALTOR, Bedford Co, Campbell Co (RE/MAX 1st Olympic, ABR, GRI) Thanks Kathy! I just tell it like it is!

Perfect, Jim... There are a lot of folks who are still unrealistic about the market... bully for them if they can find an agent willing to do their bidding, but it won't be us... or you. I don't need the money that bad and my time is worth way too much to squander on folks like that.

Very well said Jim! Before I take out a buyer, I listen very carefully and sometimes you hear "my other realtor" or "I saw a house yesterday". I'm very careful too! Amazing how sellers tell YOU how this relationship will work! I'd say good bye too!

Ran into the same situation recently myself. Great home but they wanted too much in this market. I'll watch it sit and then hopefully they'll call me in 6 months.

Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - ) No onew minds a gamble now and then, this is not that. This is boarders abuse while spending my money and efforts. If the sellers are cocky enough, go for sale by owner.

LaNita Cates (REMAX of Joliet) I somehow think that somewhere agents have enabled this behavior. Many real estate agents list homes for nothing, kick back rebates, and offer full service to dead beats. I feel like asking folks that offered this..."So how's that working out now?"

Tracy Santrock - Cary NC Real Estate (Fonville Morisey) Put them on a mailing list...don't contact them personally...and wait.

Good for you! I agree with you turning down the appointment. Those clients would have been a nightmare. You have my respect

Good for You! I am of the opinion that in this market it just isn't worth taking on a client who is high maintenance and will be dissatisfied when you can't make miracles happen. I can relate, I fired one o my clients this week because he felt that because he couldn't get what he wanted for his house that I should cut my commission to compensate him. I simply said no and walked away from the listing. He seemed to think that everyone is starving and something is better than nothing. Perhaps in some cases that is true but only if it is a good marketable listing in a good area and this was not. So...Hurrah to those who stand up for our profession.

Good for you, Jim. If the clients refuse to listen now, wonder what they will do when you get an offer. It definitely pays to listen.

Jim - Way to go! You've mentioned that you don't need the money that bad - and the cool thing is that the only money you'd see on a listing like that is the money going out your door for marketing. Let someone else make the costly mistake of taking an unsaleable listing. We have better things to do - like work with realistic sellers.

Amy Jones (Keller Williams Realty Services) We need to act more professional and just say no. Folks that want what we do not offer have other places and options to accomplish the impossible.

Sandra Paulow, Your AZ. White Mtns. REALTOR® (RE/MAX Pine Country Realty) Sandra.. along time ago I realized that I do not have the patience of Job! Some folks may just have to interview more agents.

Kay Van Kampen, Broker, Springfield Missouri Real Estate (RE/MAX Solutions) Kay I listen first then I act! LOL! I wonder if most demanding sellers ever listen to their own demands?

Lynn Johnson, Owatonna, MN Real Estate (Coldwell Banker Home Connection) Exactly! My money! LOL! We should tell sellers that the assertiveness therapy group we belong to...told us to not let folks walk all over us! It is the first step in claiming our sanity.

JUN

2008

I never like dealing with drama. With the comments that have been written, I am sure to be equipped to handle the situation should it arise.

Latonia Parks (Keller Williams Realty) If we are prepared, we can deal with any situation. Real estate is one of those fields we cannot wing it. We must prepare ourselves with facts, and when demands seem very unreasonable, we must have the substance of character to tell them, thanks, but no thanks and walk away.

JIm- Thank you again for your great insight! This is so true, and I think your reasons that you have given for not taking an overpriced or demanding listing are going on a list right next to my listing questionaire! It will act as a reminder to me that the temptation to take a listing just so I don't "lose it" to the competition shouldn't be looked at as a temptation or loss at all! Thank you!

JUN

2008

Jen Olson It's a blessing not to take it if it not on your terms.

JUN

2008

Jim- I just wanted to share with you that I used the reasons you posted here with a fellow agent in my office. He was talking about taking a listing about $10,000 over what the true market shows the home will sell for and reduce later, if needed. I reminded him about the things you talked about in this post, and I made him think twice! Thank you again!

Jim - This sounds like you saved yourself a ton of time and a lot of headaches. If the owner's motivation to sell is not greater than their need to squeeze every last penny out of the home the odds are stacked against them in this current market.

Jen Olson (First Weber Group Realtors) This is a tough market, as Realtors, I hate to see anyone make life any harder on themselves...sellers will not remember the you advised lower prices, and will start counting on that money that will not be there. They will resent requests to reduce the price.

Sam Miller (RE/MAX Stars Realty) Motivation is the total key, and we must have hte esteem that we are the ones that only have the ability to pull this off. They need my experience, and knowledge. I had a lady call me the other day about taking a listing, and anytime I tried to share anything about the market, she started by telling me "Don't tell me...I've owned many homes...!" After sever times of a onesided conversation, I told her, "I'm sorry, but I do not think I am interested in taking your listing!" That was this week.

Jim , we have a saying around our office as well "we don't need the practice" write a deal that we know wouldn't fly or take a listing that wouldn't sell for the practice no thanks there are more productive ways to spend our time.. your story sounds so familiar.. Steve

Alpine Lakes Real Estate LOL! I love it! That is a great one!

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