Are you a listing collector or do your listings sell?  In the past couple of years in our market, you were hard-pressed to find an expired listing.  If it did expire, then something was gravely wrong with the home, Broker's market exposure or both.  You could even slightly overprice the home and have it sell within a month or two since the appreciation rates were so high.

This is just not the way it is currently here in Portland.  We are still seeing a nice appreciation rate in most areas, but just not the crazy ones from the previous years.  These days, I am seeing more and more expired listings on my MLS.  Most are slightly to ridiculously overpriced.  Some just aren't getting the right market exposure for one reason or another.  (A sign in the yard and MLS listing only, is a common reason.)  Another reason is that the sellers aren't open to hearing about the current market conditions.  They still believe that the market is going at a break-neck speed.   Maybe a "well-meaning friend" has informed them of what they think their home is worth.  Or maybe the agent is a "listing collector".  I define a listing collector as someone who "buys" the listing for the market exposure.  The truth is that these practices are costing both the seller and agent valuable time on the the market and money.  Folks, we cannot afford to take the overpriced listings.  When a home remains on the market for longer than normal it can become a stigmatized property.  i.e. "that home is ALWAYS for sale".  Pretty soon people are just driving by it and not even noticing the for sale sign.

Let's face it.  Listings are the way to go for most agents.  I absolutely enjoy getting my creative juices flowing on ways to get a home or property sold.  Plus, once you have a contract, and the sign in the yard you have to ability to increase your chances of obtaining more listings and attracting buyers, if you work with them, through this exposure.  It is very tempting to take an overpriced listing to get this market exposure.  But isn't the ultimate goal to sell the home for the owner in a reasonable time and then collect your fee? 

Agents have been buying listings since the dawn of the profession.  The sad thing is the "listing collector" gives the seller false hopes and wastes their time and can end up losing them money in the end.  We owe it to our clients to be honest with them about the current market conditions and where their home fits in it.

Armed with the current market (I mean current, not 2 or 3 months ago) data and statistics, I interview my sellers just as much as they are interviewing me.  I share my marketing plan and value proposition.  We all agree that the end result is to get the home sold.  It is necessary to educate your clients about the changes that the market has weekly and how this effects their home in its market.  Price, Location, Condition and Motivation are KING.