Ok, so I took a listing yesterday. Great house priced right, clean and ready to be sold. So what's the problem? The problem is, I am now the third person to have this home listed. These poor Sellers have been on the market for 10 months and have never had a showing! That's never, as in nada, none, nobody, no interest, zippo! These Sellers started packing back in November and have been patiently waiting for the all elusive Buyer. They are desperately wanting to move back home to Puerto Rico to be near family. Where oh where have all the Buyer's gone? I guess the real question should be, where oh where have all the professional Realtors gone?

Now my market, Poinciana FL, is teeming with "Realtors". They are definitely easy to find. They're everywhere. The magnetic sign companies have made a fortune off Realtors in Poinciana. "Call me", "Free CMA", "Visit my website", "If I don't sell it I'll buy it", "You've called the rest now call the best", "No money down", "See if you qualify today!" and on and on and on.

So, back to my Sellers. The first time they listed for 6 months. The company was a combination, Mortgage/Real Estate Services, set up. Not a discount Company, but a full service, full commission organization. The Sellers thought this would be a great choice since they did the mortgages too. No unqualified Buyers with these folks! The only problem was they didn't tell the Seller they weren't part of the MLS and they over priced the house by about $30,000. So needless to say, no showings, no sale. The Sellers wasted 6 months of their time. I bet the Company received lots of Buyer leads off their sign though. Mortgage loans and Buyers. That's what they were after and that's what they got. Good for them, bad for the Sellers.

Next the Sellers moved on to a huge National Chain. Good choice of Companies, bad choice in Realtors. Again over priced by $30,000. No showings and no sale.

So, yesterday they made a good choice, they called Tutas Towne Realty and as always, they reached me. I met with them and pulled out my CMA to discuss pricing. Now as a Professional Realtor, preparing and presenting an accurate CMA is what we are supposed to do. Well, these folks had never, ever, seen one before! Ok, If you didn't catch that, here it is again, never, ever, seen a CMA! Been on the market for 10 months with 2 different companies and had never seen a CMA. That's never, as in nada, none, zippo!

Now, I have been doing this for quite a while and go behind other Realtors often, as a major part of my marketing is going after expired and withdrawn listings. I love them. All ready made the decision to sell, just need someone that can help them. Anyway, it never ceases to amaze me how many Sellers have never seen a CMA. They arrive at pricing by telling the Realtor how much they want and the Realtor says "OK." Folks, this is unethical. It is our job as professional Realtors to advise Sellers on pricing. In my opinion, this is the most important responsibility we have. Sellers are depending on us. They are hiring us for our market knowledge. They are making plans based on the equity in their home. They are planning their retirement, purchasing other homes, paying off debt or like these folks just wanting to go back home to Puerto Rico. False hope. That's what Seller's get when you are not honest about pricing. False hope. Is there anything worse than this? False hope.

I never want to be known as someone that dishes out, false hope. Maybe some Sellers won't want to work with me because of my honesty about pricing. But I can't control that. I can control my professionalism. I can be honest with Sellers, whether they want to hear what I have to say or not. And I can choose not to give people false hope. Can you? Will you?

I think I will get me some of those magnetic signs. Mine will read...........Call Broker Bryant, for the truth and nothing but the truth.

 

13 Comments on Call Broker Bryant, for the truth and nothing but the truth!

SEP
03
2006
205,311 Points 6 Featured Posts Outside Blog
Bryant the truth and nothing but the truth cost me 5 of the 8 listings I could have had.  No point once I put the numbers on the table it was easy to see they just couldn't flip these in todays market.  Especially with the builder in one of these developments offering a 20K bonus plus 8% commission and not due to be complete for another year.  It painted a very bleak picture but as you say the truth and nothing but the truth is the only way to go.  Why waste everyone's time..not presenting a cma what is that about?  There are listings that I have known sold and resold but generally speaking doing a cma should be par for the course....speaking of par wonder how Tiger is doing...and sad to see Agassi retire today....
3:11pm • #1
14 Featured Posts

I had no idea that this happened....a listing presentation with no CMA?  What? 

Somebody needs to join AR and get some teaching.

3:18pm • #2
537,176 Points 45 Featured Posts Outside Blog
Three cheers for ethics and honesty! Sellers may not choose to list with you now, but they will remember what you said, and if/when they call you in the future, they'll be more ready to follow your advice. No point in wasting time on an overpriced listing and an unrealistic seller.
4:51pm • #3
408,302 Points 72 Featured Posts Outside Blog
I am on line now trying to find those signs! I will keep you posted. Kum La Ka Lakka!
5:12pm • #4
614,435 Points 244 Featured Posts Localism Sponsor Outside Blog

Teri, you're right about that. If they are not willing to price it right I have to take a pass. I'll list them in a few months when they are really ready.

And Jonathan, yes my friend, sad but true. I have met with many many sellers who have never seen a CMA. This is a very normal occurance in my market.

7:17pm • #5
1 Featured Post

There once was a Seller from Dundee

Who hired a Realtor on Sundy

The house showed well

the price was swell

Bryant cashed the cheque on a Mondy

 

Sorry....It was worth a try.

8:12pm • #6
10 Featured Posts

Bryant..

How lucky this new customer of yours found you!  The poor business practices of the previous two Realtors make us all look bad.  I'm happy to know that you are on the scene to save the day.  Keep us all posted on this one!

THE HIGH ROAD... hard sometimes to travel, but always worth the trip! 

8:33pm • #7
MAR
28
2008
1 Featured Post
We have to some how some way either get these unethical, under educated REALTORS trained up, or kicked out of the NAR.  Every market it teeming with them, and they give us all a bad name.  Thanks Bryant for keeping it real!
12:38pm • #8
APR
10
167,426 Points 10 Featured Posts Outside Blog Hit Router

It's an oldy but almost a year and a half later is as still important today...  I agree I don't tell people what they want to hear, but what they need to hear. 

7:47am • #9
MAY
28

Again BB, going through some of your old posts. You are right, they certainly need some teaching. No CMA...so lazy and so unethical, not "taking", but MAKING an overpriced listing so you can have a free advertising sign in someone's yard...it has to be part of the motive.

7:44am • #10
MAY
30
212,688 Points 6 Featured Posts Localism Sponsor

Expired listings have been successful for us. We don't go after them exclusively but we have sold the ones we have listed.

Sharon

11:15pm • #11
MAY
31
614,435 Points 244 Featured Posts Localism Sponsor Outside Blog

Frank and Sharon, Are you guys having fun? I appreciate you taking the time to read through these posts. Have a great weekend!!! 

6:21am • #12
1 Featured Post

The best part is the question "Where have all the professional Realtors gone"

 

Hey, we may be all that are left.

 

Great post and still works.

 

Gary De Pury

Broker-Owner

Bay Vista Realty

Tampa Florida

9:06am • #13

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

Poinciana, FL

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Bryant Tutas-Tutas Towne Realty, Inc

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

Office Phone: (407) 870-9003

Cell Phone: (407) 873-2747

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