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I failed to take my own advice and lost a listing

I failed to take my own advice and lost a listing.

Contract In January this past year, I wrote a post on Preparing for your listing appointments. Primarily I wrote on the Pre-Listing Questionnaire.

The Pre-listing Questionnaire is basically to gage how motivated they are to sell and if they can afford to sell. In the document I ask, how much they owe, if they are willing to spend money on the house getting it ready, how much they will spend, do they have a 2^nd mortgage, are they current on all their payments, do they have a friend, relative or church member they are obligated to list with, how many Realtors will they be interviewing, and do they have any idea how much their home is worth?

Two weeks ago, a potential seller called me. I was referred by a relative of theirs that I had sold their home and being that he was a builder went on to sell several others of his spec houses. Their grandmother was going to be giving up her home and moving in with one of her daughters.

Yes, I sent the Pre-Listing Questionnaire over to them, along with my Marketing plan. I met with them, looked at the home, did a CMA and gave them a fair price, based on market conditions, actives and condition of the home.

What I didn't do was get the Pre-Listing Questionnaire back. Had I received it back, prior to the appointment, or picked it up at the appointment, I would have seen the answer to one of my questions. This was one of the things I taught my apprentice Kim Wood to do in the makeover2takeover contest.

The question is: Do they have a friend, relative or church member they are obligated to list with?

My past clients were not there, it was the children of the mother. Not the grandchildren whom were my past clients.

Yesterday, they called to say they were going to list with __________. He was a friend of theirs.

I knew they were interviewing another agent. I knew who it was. I was not worried. I wasn't cocky I just knew my internet presence was way better and when I asked them to Google me, Google him, I felt like they would have seen the difference.

Today I read a featured post by, Michele Reneau. Her title was, "You're going to be mad at me". The post was about some of her friends going with another Realtor.

Friends or no friends.

Referrals or no referrals.

We need to follow our systems.

A system works, it is something we do over and over again and it works. It is a proven method of doing business.

In this case I did not follow my system and I did not get the listing. Next time, anyone interviewing me for a listing, will send back the Pre-Listing Questionnaire prior to our meeting or I will pick it up when I meet with them the first time.

I don't want to hear those words again, "we are going to list with our friend".

Posted by Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate on 06/29/2008 12:16 PM

Comments (86)

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86 Comments on I failed to take my own advice and lost a listing

JUN

2008

I have been in those shoes before myself. I guess we just have to live and learn, and become better by mistakes we make.

And don't forget the unscrupulous agents who suggest to their friend to interview other agents to get price suggestions.

And don't forget the unscrupulous agents who tell their friend to get a marketing plan from other agents and then call them.

And don't forget the unscrupulous agents who tell their friend to find out what Missy would charge and we'll charge less.

I'm flagging this. This is good.

In fact, the home owners who even took your time, knowing that they have a friend who is an agent and that they would likely list with them were pretty unscrupulous too.

Of course, I'm talking to buyers but I ask if they are working with any agents and they admit that they have a uncle, brother, neigher, etc. agent friend, relative. I politely suggest that they have the friend/relative show them homes. When they admit that their friend/relative suggested that they look at homes and then call the friend/relative, I suggest that if the agent is going to write the contract and collect the commission, don't they believe that it's fair that they show the homes too??? They slink away but not quickly enough.

It doesn't take a Rhodes Scholar to know when something isn't fair.

Missy, I am now convinced that a good pre listing packet is essential to a good listing appointment and listing. My packet is very strong on pricing and what they need to do to get the home in shape to sell for top dollar. If they don't want to listen, then I won't work with them. Something tells me that you did not get the listing because the other realtor told them what they wanted to hear rather than be up front with them or he or she is not that great to begin with.

Awe! Thanks for sharing! Better luck on the next one and we can only learn from these things. Great ideas though with the pre-listing questionnaire. You've at least educated us on some good techniques and helped a lot of people learn how to use them to their advantage.

Sincerely,

Kathleen

Missy - will you adopt me?! I LOVE systems and need more of them. I've heard about pre-listing packages and yours sounds like something I need too! Thanks for the reminder of staying true to our systems regardless of who we're dealing with.

Missy, The fact that you recognize that you slipped up and diverted from your ways is one of the main reasons you are successful. Many veer off the path and don't realize its time to get back to the basics until too much time has passed.

Lenn, of course their are unscrupulous agents who would do this. In this case, it was my fault for not knowing their relationship with the agent they chose. I don't feel used in this particular situation. In fact my price was lower. LOL But, it wasn't on price they chose him it was relationship.

Had a followed my systems, I would have known this upfront.

Now with all the IDX listings I do get calls from buyers who want to see my listings that have a relative who they are working with and who will write the offer. I tell them something similiar. I will not be used. The relative doesn't want to drive to Ann Arbor to show them 1 house when they live an hour away.

I told them to have the uncle refer me and I would be happy to pay them a referral fee. It is bad when the licensed Realtor tells his relatives to do this.

oh Missy--don't you just hate that? It's really a good question to include...lesson learned. Moving on! Next?

Missy:

The part that I missed in your blog is that you felt that you out ranked this other agent because of your Google stats. So, does friend trump your Google rating? I think your pre-listing package is great, the only thing that I find confusing is that if the question that you ask in your pre-listing package comes back with yes they have a friend or relative --- what would your course of action have been?

It seems to me that as a professional in this industry, when you received the call from this prospect, the only gracious thing to do is wish them well and move on.

Hey Missy sorry to hear about your lost listing..It happens to the best of us. More often than not it is when we let our gaurd down too.

MISSY - Sometimes we need to deviate from our game plan to realize how effective it actually is. I try to learn a lesson from any negative experiences that I have.

So Missy, I guess this will be a dumb question. You simply would not have gone on the listing appointment had you known about the 'friend' or would you have tweaked your presentation a little to try to compete?

I agree we have to follow our plans that we set. Its frustrating to lose a listing or buyer because we didn't follow our own plan.

Great lesson, thanks for sharing Missy.

been there, done that

I'm with Lenn... time was wasted...and I don't think if you got it back that the story would have been different. You did well...great....excellent. They needed something to compare to....and still saw those words....are you obligated.

I've heard a few people talk about two part listings. I have always done a one FULL part at the time of appointment. Don't know if any one is any better...we do what we do....and in the end...everything happens for a reason. :)

Sorry to hear about that. This is a good lesson for all of us to keep in mind. Have a great weekend.

We all lose out at times. Listing it is not the same as selling it. Let's see what happens, shall we.

Hi Missy...Just goes to show how we have to be on our toes all the time. It is difficult sometimes to remember everything we need to do and the order we need to do them. Often times we are so concerned about doing the best job for our clients we don't remember to take good care of ourselves.

Missy, you did not have to share this with us but in doing so you revealed the essence of what makes AR so great. Some might not be as forthcoming in admitting they messed up even though we all do.

You are the epitome of a terrific role model. We all need you to mentor us.

Kathleen

Hi Missy, I think that we have all been there. We just have to learn and go on to the next appointment. Thanks for sharing with us.

Missy,

That hurts when that happens. We lost a listing for the same reason...only we knew about the friend in the business and thought we had over come it. We didn't.

Missy- first word that came to mind was Ouch :) I think the toughest lessons are the ones we learn this way.....mainly because we knew better but for whatever reason didn't do what we knew to do.

Thanks for the reminder, and the lesson :)

ERRRRR That makes me mad it happened to you! And... I gave mine and didn't get it back the other day :( I forgot to ask you what to do in that situation... guess I know now.. you GET IT!

Thanks for sharing, and sorry you had to learn the hard way - we always do, eh?

I guess just call me lucky but I have never had this happen to me in the 28+ years I have been in business Misty. I ask all the questions but don't use your questionare and so far so good but your questionaire does make a lot of sense. Have a great day.

Missy - Some lessons really sting. I'm so sorry this happened to you.

Missy, whendid we lose our integrity? When did we apply that adage "All is fair in Love and War" to all aspects of life? But, you are right. If we are faithful to the systems we have in place, we can catch a lot of those unprofessional "tricks". Great post.

been there done that.......... Never assume anything, I've learned it the hard way and ya know what I am sure the last time it happened to me won't be the last time it ever happens to me.

Life happens........ move on to the next

This is a long read...(sorry). Hopefully it's helpful for some though.

Missy,

Lorraine and Loretta Kratz's post above parallels my thoughts exactly. What would the course of action have been had you known about the "friend" in advance? Walk away sooner??

That hardly seems like the best answer....and I wholeheartedly (and respectfully) disagree with many of the comments regarding that there was any time wasted.

I also have found that in MANY, MANY instances....there never is an actual friend. It's often just another agent who outperformed your offerings...and the "friend" excuse is a less painful way for the prospective client to let you down.

Either way, what I find is missing in many pre-listing....(or actual listing) presentations is a superior action and marketing plan to cause the prospect to call the other agent and politely explain that they've found someone else (you) who's simply better qualified to market their home. And they WILL make that call if you give them reason enough. Let them tell the other agent that YOU are the family friend...and the other agent will be blogging about a missed opportunity.

To Google higher up is great...but not cause enough to list with you. To "maintain the utmost professionalism and promise to keep steady contact throughout the transaction" (yawn)...is what every Realtor promotes as part of his/her presentation. Price, commissions...and marketing gameplan likely had more to do with the lost opportunity than any real relationship with the other agent.

I personally would never even ask the question of whether they intend to use a friend or relative as their agent. If they're contacting me...it's indicative of their wanting to be certain they're making the right choice...and I was often able to re-direct their focus away from friendly (or otherwise) obligations... to simply choosing who was better qualified.

All you have to do is be the better choice.

When I was selling real estate, my Listing Presentation Binder was something no other agent provided....and my print materials (flyers, brochures, Just Listed postcards, etc.) were without equal. I hate that that sounds so self-serving in light of what I do now, but that fact is echoed by our customers on a daily basis.

If you show up with the same promises, the same professionalism, the same general pricing, the same looking flyers, and the same basic internet presence, they'll choose based on price, or commission, or who was friendliest, or who had the most experience, etc. DO NOT TRY AND COMPETE ON THOSE LEVELS! Someone can always be more experienced..or cheaper..or whatever (etc.) You never ever want to let the decision making go there.

But if your competitor shows up with ink-jet printed or dayglow green flyers (which they almost always do)...and yours are professionally designed and printed, you gain a distinct advantage. It sounds like I'm oversimplifying, but I cannot tell you how many times sellers would simply ask if I intended to do that kind of marketing on their home...and when I answered "of course"...they listed with me. It sounds silly, but I used to love it...and laugh every time it happened. Way too easy, but it was the one tangible they could see, touch and feel for the 6% they were being charged...and somehow the commission fee now seemed justifiable.

Your pre-listing questionnaire sounds great...but I would remove several questions:

How many Realtors will they be interviewing? Take that off, as it's only planting a seed that doesn't need planting. Approach it from the perspective that it doesn't matter if they interview 3 or 100, YOU are their best choice anyway. What do you gain by asking? You don't. You only give them a way out if they don't like what they see. "Well Missy, like we said, we have another agent we're going to interview"...blah blah. Don't do it.

Do they have a friend, relative or church member they are obligated to list with? Again, for reasons mentioned above, don't go there. If I were a prospect completing your questionnaire, I'd write in that there was a possibility of a "friend" helping us...but that we weren't sure (for whatever reason) if they'd ultimately be able to...and that I wanted to interview you as a backup. (You just allowed me to set the stage for making our final decision a painless one.) "Turns out Hank isn't going to have his gall bladder removed after all...so we're going to list with him".

Do they have any idea what their home is worth? I never went there either. Heck, a lot of sellers can't even tell you how many square feet their home is...much less give you an accurate estimate of its value. That's a setup for disappointment in my book. "By the way, Mr. Seller...you indicated you thought your home is worth $400,000. Here's the bad news...it's only worth $345,000." (Don't go there.)

Okay...I've ranted for long enough. I think I'll post a blog soon that addresses Listing and/or Pre-Listing Presentations...and give some graphical illustrations of what I'm talking about.

In the meantime...good luck...and I'm sorry you lost this one. Could be a great learning experience however!!

Dave

Missy,

Sorry to hear that you lost the listing. You will have to make up for it on the next one. Dave, excellent rebuttal. You make some great points. Thanks for a great read!

Hi Missy~

We are lucky to list by referral only...but I'm sure that some of my Brokers would love to know more about what your years of experience have taught you and I missed the Pre-Listing Questionnaire...looked back to see if I could find it...and would love it if you placed a link to it here.. THX

Missy..that just plain stinks! I echo Lenn though. I've been used and hate it. Usually it's not the clients, but other agents who are too lazy to show. I showed a house once and the people were going to buy it..just from their agent who went to a ball game and didn't want to show it, but got the contract the next morning.

Missy,

I agree with your premise but please don't be too hard on yourself. You may still get the listing when it doesn't sell.

It may be for the best after a few months with the other agent they may see the need for your services. Good Luck.

Missy, very sorry about this. Are you suggesting that if they said "we have a friend" you usually do not enter the competition? In our town everyone knows a Realtor, so it would really limit my options, if I rejected such situations straight out.

Missy, Hindsight is 20-20. Our market is making it difficult not to compete...next time go for it!

None of us are perfect and if I ever listened to much of my advice I could be a better person and Realtor! Don't beat yourself up.

Later in the rain~Deb

Missy, I have excellent systems in place. Sometimes I even use them :).I think we all skip a few steps every now and then. We get to comfortable or in my case.....I just get lazy. This post is a good reminder to stick to the plan. We have systems because they work but only if we use them

Missy - that is too bad that you lost the listing. I agree with you we need to follow our own guidelines.

Missy - Sorry you lost the listing. You are so right the answer to that question would have been a good indicator of your chance. Thanks for the reminder.

Missy- Sometimes the Sellers have to learn the hard way. I just listed a home Thursday that I had previously gone on a listing appointment for but had chose to list with Mrs. Sellers father who was a newbie to the business. He listed way too high, 6 months later it expired and he turned in his license because real estate was too expensive a hobby. Gee imagine that.

Sometimes it makes no difference how good you are compared to who they end up choosing no matter what systems you have in place. Just be gracious when they come back your way.

Thanks for all the comments, just came in and checked my email.

First of all if they had sent it back I would have known a friend was involved and pushed for the listing more at the table when they were all there. I would have done a Broker Bryant close. Ok folks, let me go get my sign and lock box and let's get this listed now.

They were in the process of cleaning out "moms" stuff, so there were boxes everywhere.

I would have also delved into the friend question right away.

Are you just getting another opinion? Do you feel obligated to work with them or are you really interviewing other agents for a comparison.

Heck, they could have done it out of courtesy to their kids who I worked with on several transactions previously and trusted me.

The fact is I didn't know because I didn't follow my system and get the questionnaire back.

I didn't feel used or abused at all, and I never take these personally, the point of the post was I didn't follow my system and I do believe if I follow what has worked in the past, I would have known ahead of time it was a friend. I only found out it was a friend Realtor when they called.

I almost always tell me to Google me and my competition and for their own benefit to see how I market and all the backlinks to my sites, blogs, etc...

Missy, I am so sorry you lost the listing...I learn the hard way often myself. I have noticed that people or often sorry they've listed with a friend...or a friend of a friend because they felt they HAD to, not because they felt it was the better agent. I'm wishing you another listing to come along very soon to replace this one!

Missy

I have a pre-listing questionaire that I have found very helpful. I also like to ask about their past experiences. Have they worked with another agent? If so What did that agent do that they liked or disliked. did they provide any special sevices that they found helpful? It gives me a little more background knowledge on the seller.

I would like to also ask in my first interview if they have money to bring to close if it was necessary. That's a tough one to ask before you've determined value but it might save a lot of time

Hi Missy, great post. I'm glad I found it when I did, after your last response on 6/29. I agree, if you know there's a competing "friend", go for the jungular (also known as 'doing a BB') and just move in for the complete close. Maybe we should ALWAYS go in for the complete close in ANY case???

I also know that being the second (or third) agent in is NOT a bad thing. I've been that agent a couple of times and sold the house. Watch the listing and then get it when it expires, as you already have met (and warmed) the deciding factors (the kids). I think the questionnaire is a great idea; however, I would always go in w/sign and lockbox ready to just get it done.

Missy,

Great post! This happens to the best of us! I used to say that if I had to rely on business from my relatives and close friends, I'd starve to death...jealousy, and privacy about family finances play a significant role in referrals...it's not always a 'quantitative' thing...there are other 'non-predictable' factors involved! Move on and keep trusting in yourself and your abilities!!! Thanks, Fran

MIssy: I know that you may look at this as a lost opportunity,but I look at this differently.... sometimes we look at the short term of a situation, but if we take a look at the long term. We may ever know what more this would have happen if you had this listing....

Missy you are so good, so I know that is was there LOST.... AND THE NEXT PERSON YOU LIST WITH GAIN...I had a friend that did the same thing to me also...It was my gain in the end... she listed for 5month and then decided not to move again... In the end I'm glad that I didn't get that lisitngin...

Now time to waste you have to pick yourself up and go an get the anther listen...

I've learned the same lesson, at times - when a former buyer calls you about listing their home, sometimes you take it for granted and skip steps in the system. It always backfires! My own mother (a former agent herself) just bought a home from someone else. GOTTA stick to our systems!

Here's another reason why you may not have wanted the listing. If the grandchildren wanted you, and the children wanted another agent, the children would have been critiquing you the whole time, perhaps even hoping you failed so they could say, "told you so".

JUN

2008

MIssy,

You are absolutely correct. The more info I have going in, the more I can direct the presentation, know the hot buttons of the seller, and know how hard to push for the business. I want to know if they have a family or friend agent, lots of those are going out of business, because they are part time, not available, inexperienced or untrained. My job is to show them my value to sell their house. Unfortunately for me, I didn't use my system and lost an easy one, didn't know the right triggers, so been there done that. I read quite a long comment on here and didn't agree with most of it. Then I realized it was from a flyer guy. Thanks for sharing with us, Missy, I appreciate your experience and knowledge.

List and Sell (list, list, list and don't shortcut the system) Gary @ RentonHomeFinder

Gary,

LOL...before I started FlyersToYou, a national real estate training and marketing firm...I averaged 8-12 closings a month as a top Realtor in my area.

Your "flyer guy" comment was cute..but not quite accurate.

P.S. I never was unprepared.

Best of luck to you.

Dave

Dave,

Thanks for the email off line. I apologize if you were offended and am glad you were successful. I think we had a valid difference of opinion as to Missy's tactics and strategy. I think you and I both would agree that we need to aggressively show our value to the clients at the time of the listing appointment and the more info ahead of time the better. I just hate for a person to end up working with someone who doesn't have the experience, knowledge, training and marketing experience as I can provide. From your comments, I'm sure you felt the same way.

Take care, Gary

Missy --- sorry we got off track here on your blog, you did stimulate good thoughts

List and Sell (systems work and so does good dialog on AR) Gary @ RentonHomeFinder

Gary,

Wow...what a gracious response! I really appreciate that!

And yes...I totally agree that we need to show our value to the clients at the time of the listing presentation...(and/or any contact leading up to that appointment). BUT...here's where we disagree.

For the reasons outlined in my "much too long" post above...I wouldn't ask certain questions in a pre-listing questionnaire. Even though it may be considered fact-finding...I believe it also allows the seller too many opportunities to "opt out" when making their final decision in terms of who they're going to hire.

Instead of asking whether they have a friend they're working with...or how many agents they intend to interview, I'd rather see questions that relate back to them a bit more, i.e.:

1.) Will you be relocating after the successful closing of your sale?
You just very subtly mentioned 'successful closing', implying you're absolutely going to do what you say you're going to do.
2.) If moving out of the area, would you like me to assist you in locating another professional and qualified agent to assist you in that purchase?
LOL...see?? You just did the same thing! "Another professional and qualified agent" means YOU are!
3. When marketing your home for sale, it's your input that counts the most! In ensuring that we garner the most attention for your property versus competing listings in the area, please help us by completing the section below:

a.) Describe the various features and/or upgrades included with your home that we should absolutely include as part our marketing strategy:_______________________

b.) Check the following boxes for the items you'd like us to use in the marketing of your home (NOTE: It's okay to check all of them; there will be no added charges or fees):

___ Professional Full-Color Listing Brochures printed on thick cardstock with high-gloss coating (samples will be provided)
___ "Just Listed" Postcards sent to the entire surrounding neighborhood (samples will be provided)
___ An online website devoted exclusively to your individual property (see sample at: __________)
___ Inclusion of your property in high-ranking searches from Google, Realtor.com, etc.

Etc., etc.

You can see where I'm going with that. All along the way, you're closing the deal. The poor other agent (whether family or friend)...is gonna have a tough time competing with the foundation you're already laying...and it's likely that any other listing presentation appoinments with other agents will be cancelled by the time you're done.

I love Missy's Pre-Listing Questionnaire idea!!! I never actually used one way back when...and I kinda wish I could go back in time and change that!!! I would just rather use questions which elicit a more positive feeling and response...and further my cause. Ones where there can be no wrong answer...or any new objections.

Sheesh...too much coffee! I have a tendency to babble.

Gary, again thank you for handling things the way you did. And Missy, I, too, am sorry we got off-track a bit.

Have a good night all!

Dave

Missy, The post is a learning experience and I thank you for writing this post but also your response to people is what is so important as well. What you would have done differently.

Let's get something straight here. If there if "fault" involved, it is not on the part of an honest hard working agent who agreed to present a description of their services to a couple who contact them about listing their home.

The "fault" cannot be placed on the agent because they failed to ask for a form in which there was a querry about the owners relationship with other agents. Even if the form had been received and reviewed, there is no guarantee that the answers would have been honest. Folks who use deceptive methods to garner information from agents with the promise that you "might" get the listing are not likely to provide honest answers on any form from an agent whom they didn't expect to hire anyway.

The focus here is mistakenly on Missy for failing to ask for and read the pre-listing form.

The focus should be on the sellers who have no respect for Missy's time and their agent who has less.

This is pervasive throughout our industry with agents who disparage their competition in order to get listings. Agents who send their buyers out to open houses to "find their house". Agents who send their buyers out to contact listing agents to find a home and then that same agent writes the contract.

These agents are parasites and a blight on our industry. They seek to gain from the work product of others, such as the agent who listed the home in the instant case.

I have absolutely no doubt that the actions of these home owners to entertain Missy's presentation was conspired between the sellers and their agent, the one they planned to list with all along.

A form that was not even received isn't going to lose a listing.

Dave, Gary and Lenn,

I love a good debate, to me that is what blogging and web 2.0 is all about.

Lenn, my sellers do interview imore than one agent in my area. If they don't they are either repeat clients or referrals from family or friends. I let my guard down by not following my system to find out the relationship and that the other agent was not just another agent but a friend.

Dave, my Pre-List questionaire delves into information I want to know about them. How I market is included but in a separate document, that is about me. The pre-list is about them, so I know more of their motivation. I'll try to copy and paste it into another post, too long for a comment. Then you can see. No offense to you and your business, but a flyer is only one part of the marketing that is included.

Gary, Yes, I think you understand what I was saying, if I had known the other agent was a friend, determined by the pre-list questionaire, I would have gone for a response on the spot.

Karen, yes I would have gone to the listing appointment, I love to compete and I just would have delved into the relationship more.

Missy, Thanks for sharing you experience an for stimulating all the great response comments. I've learned alot from this post and all of the comments. Mike

Missy, it is all in the details, and not following the details sometimes kills us. Thanks for sharing this loss with us. It probably only happens to you once every ten years : ) Congrats on the feature too. I always learn so much from you.

I am with ya Missy...Systems are so important...and if you have them, why not use them! Great stuff!

Missy: All I can say is the proof is in the pudding and they are missing out by not using you.

Would you please go to your back door, open it and yell "NEXT" so I can hear you clear in Missouri.

You've got bigger and better coming my friend!

Missy, It is true that we learn from our own mistakes and we must 'practice what we preach' but, I firmly believe that everything happens for a reason and I think that this listing will come back to you and you'll gain even more referrals from actually SELLING it! Let's just sit back and watch and I'll bet we'll be seeing a post about you getting the listing after the first agent couldn't sell the home!

(My glass is ALWAYS half-full)!!

Thanks for the reminder! It's never a waste of time. At the least, it's a great lesson to help us get back to the basics.

Missy,

We have a pre-listing questionnaire, but I have to admit that the question about a family/friend Realtor isn't on it... but it will be for the next appointment. Thanks so much for bringing this up, and I have also lost a listing the same way.

MIssy

I think you are the Queen of Ann Arbor

Regards

Tom Braatz

Hi Missy,

I'm new in this business and I am glad I came across your pre-questionaire. I will definitely have to start this up so I don't waste my time.

Missy- While you may regret not following your system, it may not have made a difference. As many have already stated, sometimes we simply are being used.

A blatant example of that happened to me a couple of years ago. I was given a relo listing opportunity. The relo company asked if I could submit the ERC as quickly as possible. I worked hours on it, thoroughly reviewing the comps and providing an in depth analysis and explanation of my recommendations.

Two days later, I received a call from relo. They said they had received another ERC, that was very similar to mine, with almost identical comps. My suggested selling price was $500 more (on a million dollar plus property.) They asked if I would mind adjusted my price down the $500, so they could avoid the neccessity of a third ERC.

What else could I do - I agreed and they gave the listing to the other agent. After it was listed, I discovered that the other agent was the one who originally sold them the house. There was no way I was ever getting that listing.

Missy,

I learn so much about Real Estate in these blogs....I do a one step approach 90% of the time and get all the info I need right in front of them. I also go over what has sold and what is their competition. The main thing a Seller wants to hear is the price range,estimation of proceeds and a MARKETING PLAN. After they see that I am going to market their home in ways that their relative,friend or acquaintance cannot...they list with me. I could care a less who I am competing against (I never ask) I know that I am the best person to list their home and it comes across. I feel that all agents should have that attitude before they walk into the listing appointment. It should not matter if they know another Realtor or are interviewing 10 agents. I can't tell you how many homes I walk into where there are 30 realtor magnets on the fridge and a Realtors calendar hanging up but I am walking out the door with the listing. I know I do things outside the box but I have over a 90% success rate. My success rate has gotten higher as I have gone away from a multiple step listing presentation...who woulda thunk it :-)

Sorry to hear about this, don't kick yourself too hard.

Missy: First of all, I'm sorry that it happened. But to relate to your system - which you had passed down to me through that "pre-listing questionaire", I had become a better agent. I am not afriad of asking the "tough" questions anymore. It is done for me in the pre-listing questionaire.

I had a situation where a potential lead had requested a showing on a house - good price I might add. I had called to get more information and found out that this client most likely will use his previous agent to list his house. So, I had asked him if he intends to use the same agent to purchase the next house. Come to find out, I do feel that he probably just intends to use me to show some houses, then list with his agent and eventually purchase through her. I'm smart to not waste my time. I did in the process upset him because I was "dwelling" on the exclusivity issue - which I must have before I work. I'm so much smarter now.

Congratulations on getting featured as well too.

If nothing else you learn from your mistakes but I thank you for letting us learn from yours! I am sure that I too have many to share Better Luck next time

Missy,

I posted some graphics and some additional commentary for you at a "behind-the-scenes" page of our website.

Notice to everyone: This is not a hijack attempt. The information I uploaded there is completely relevant to this post. It's just that I seem to write verrrrry long comments (which can get a bit boring after a while)...and I wanted to post some graphics to help illustrate what I was talking about in my comments above. This blog didn't seem like the appropriate place to do that (graphics and stuff), so I simply posted them at our site.

Anyone is welcome to view them...and hopefully some will even find the information enlightening. But I posted it mostly for Missy's sake...and I'd like to get her feedback afterwards.

This is the link: www.flyerstoyou.com/missycaulk

Dave

Sorry to hear that Missy and yes, I have experienced similar. Ginger is right, we learn from our mistakes and next time I am sure you will not forget to review the answers to the questions.

Your so right ... thank you for the reminder!

www.PippaMAC.com

Missy, If they indicated they were going to list with a friend, how much time would you spend with them? Thanks, Julie

It happens to the best of us and we sometimes need to "forget" something to be reminded to remember! Besides, maybe it will come back to you..if he doesn't sell, etc.

I would love to see the questionaire!

JUL

2008

Robin, yes I would have gone on the listing appointment. See my answer above in the comments. 5:50 PM on the 29th.

Cristal, I am going to copy it in another post so anyone interested can read.

Dave, thank you for setting up a page with your marketing materials. They are quality and professional looking. What you are saying, if I am reading you correctly is that everyone has a "hot button" or a "tipping point" and you feel the marketing materials will give one the final edge?

As I have said the Pre-Listing Questionnaire is for ME. I want to assertain their motivation for selling, find out their obligation to another party, see if they will invest in staging, or any amount of money to get their home sold, their pay-off on their mortage, if they are current.

The marketing materials are for THEM.

Listing is a 2 way street, how can I help them if I don't accurately determine their situation and motivation.

I think we are talking about 2 things here, you on the marketing of the home and myself on the knowledge I gain from the Pre-Listing questionnaire, my system.

Thanks again for taking the time to set up a link for me. At this point with this many comments, I'm sure many are not following along ready all the comments so why not make it a post from your perspective.

Missy

Missy, I so admire your blogs and how you respond to the incoming comments regarding them. Following a system IS important, but the truth is... We're just going to mess up sometimes. Making the mistakes causes us to get back in the game better and stronger.

Missy, sorry to hear about a lost. Look at it as a learning experience. Hopefully the listing agent does not use your pricing point. Thats what really makes me mad.

Missy,

You are sooooo insightful!!! Yes, that's exactly what I'm saying! Given all things equal, a simple flyer CAN and often DOES tip the odds to your favor. And don't get me wrong. Although you and I might disagree on which questions to use on a questionnaire...I'm all for it!! I think I mentioned that I wished I could go back in time and implement that tool in my old real estate days. I definitely see the value of having that kind of tool available in understanding your seller's needs.

I'm so looking forward to seeing your questionnaire in its entirety. I'm even looking forward to a friendly debate as what questions may or may not elicit the desired response. I'll even make you this offer. If you EVER want to brand your questionnaire...with your look...your feel...etc., I'd be honored to do that for you for free! (My way of saying thanks for putting up with my comments on this blog). You just let me know, ok?)

I also think I'll take your advice about creating a new post using the info at your behind the scenes page.

Thanks for totally understanding where I was coming from! You're the best!

Dave

Missy, you bring up a good point, you have to use your systems right. I am adding surveys to my listing before and after and I am now going to add this one. I have been asking these questions but with a paper they will feel they need to answer it. I will bring the paper and have them fill it out with me there before I leave. Nice post.

Missy--I don't have a pre-listing questionaire but after reading your post I think I need to get one going for myself. Just have to start researching what questions to put on it. Thank you for the insight!

JUL

2008

WOW! Great post! I was going to ask what you would do if you HAD seen the questionaire but you answered that in the comments. Looking forward to seeing your questionaire.

What I cant understand is sellers that have no intention of using you but act like they are.

Great information...just what I was looking for.

thanks and good luck!

Mike Warren

JUL

2008

Ugh, which is worse, losing the listing or knowing better. I seem to find that when ever I am over confident I always end up losing :(

Missy sorry you lost the listing and thank you for sharing--it has happened to the best--another listing will come along!

JUL

2008

Missy... Sorry to hear you lost the listing... I lost one yesterday as well..... They seemed so ready on Thursday and on Saturday there was another company sign in their yard... Grrrr

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