When is too many too much? - How many Listing do you have?

Stewart - I think the answer to your question greatly depends on the experience level of the agent, the quality and experience of their personal staff and their willingness to utilize systems and technology. 

I agree that many of the agents that list as a team do not service their clients the way they should but I don't think there is a magic number of listings you can servcice at a time.

Have A Great Day

Doris - I'm seeing out-of-area agents list in my farm (Seller's friend, discount broker, etc.). Logistically it's simply not possible for that agent to service the listing effectively.

Hi Stewart -- I recently was referred a client who originally contacted one of the "big dogs" in my area. This agent routinely carries 50 plus listings.  The client scheduled appointment and this agent didn't show. . .the client called again and was referred to an assistant. . .the call was not returned.  Long story short, the client commented to me that she felt this agent was too busy and didn't consider her listing worth the time.

Stewart, we have a client who recently was managing about 70 listings.  Although some of them are developments with several lots of land in each.  Regardless, that's a lot of listings!  Him and his wife are both agents with new twin babies as well.  He's definitely got his hands full.  I think he has cut back a bit for his personal life.  I couldn't believe it when he told me that!

While I agree that "Less is better" if you are an individual agent, I believe an organized team with systems and set expectations with their sellers can outperform and inform a seller better every time. As your business grows (be it buyers or sellers) you have to leverage to handle the volume...don't get greedy and take on business you cannot handle because it's there.

When I listed homes on my own, I found myself to be the "Jack (or Jayne) of all trades, master of  none". I was unable to re-fill brochure boxes and follow up with feedback while I had to cater to a relocation buyer for 3 straight days. Calls were returned slowly, brochures produced slower and overall quality of what I was able to offer was just not acceptable in my book.

Now, with my team, we have organization in our approach to listings and technology in place. Our clients have instant feedback, professional scheduling, weekly reports on activity with their listings, Weekly reports on Market trends and scheduled times for us to talk every week. They know they can call me any time, but also know I will call them! I know few individual agents, must less teams, that prioritize their listings with daily, weekly and monthly updates their seller's know to expect. To me, that is the key to selling homes, happy sellers and setting boundaries with my own schedule.

We are very comfortable at 15-20 listings. When we have more than that, additional assistance is brought in to ensure the quality of our service and what we present to the public is consistent.

I am pretty much like to have between 5 to 10 listing.  I read in a slow market you need twice as many listing as in a regular market to make the same income.

Steve

Hi Stewart - I have been having the same thoughts as expressed in your blog. I currently have the most listings I have ever had at one time. TEN!  I have been struggling somewhat as I have several very "high maintenance" homeowners at this time which makes it harder when you are juggling so many.  That never seems to be an issue when I have 4 to 5 listings, which is my typical number of listings at any given time.   

I disagree with one comment with regard to the "experience of the agent" being relevant to how many listings an agent can handle.  Perhaps an agent having an assistant would indeed make a difference, but experience does not give us the additional time we need to give individual attention. 

My experience has been that most homeowners prefer individual attention from their agent (who originally listed their home) throughout the transaction.... as opposed to speaking with different team members for different aspects of the transaction.  This is the main reason I have chosen not to "team up" or create a team.  Also, I feel that others will not handle things as I do, which could lose some of my loyal clients and referral base. 

I have scheduled two more listing appointments, which will mean 12 listings at one time.  I will continue to take new listings until I feel that I can't continue to make each of my clients feel as if they were my one and only.  That is always my goal!  I make contact with my clients weekly giving them stats from my web sites & blogs, feedback and market reports so as to stay in touch and to show them that I am always thinking of them and working in their best interest.  However I currently have 4 clients that feel the need to speak to me on a daily basis for 30 to 45 minutes at a time.  That seems to be the most stressful thing for me right now.

On the flip side.... In this market, I feel that increasing my listings will increase my sales odds. I need closings!

Great blog!  I don't know that I will change anything, but it made me think!

Life is GOOD!
Michelle

I have vowed NOT to take ANY over-priced listings.  This action alone keeps my listing inventory down to anywhere from 3-7 or so.......very managable!

Hey our "top dog" has about 97 listings right now......  I don't know how he does it, but he does, and his only help is his wife.  I wish I was that busy, (who needs sleep anyway.....)  LOL

GREAT post...I think every agent is different. Throwing out the "team" aspect and focusing on a single agent's responsibility: I cannot handle more than 6 or so. Now that's just me for how much time per day I need to contact sellers, market their homes, etc. At some point EVERY day, I vow to spend time with my family...be it coaching soccer, having dinner, wrestling kids, etc. If I was a single man with no such responsibilities, I think I could easily handle double the load....but beyond 12-15 listings I think some of my sellers would be slighted.

I don't think 10 is too many if you have a transaction coordinator. Mine reminds me when things are due or need to be ordered. I love People and Marketing, but I don't love the paperwork so much. I think my coordinator is woth every penny and much more!