Special offer

Desperate Times Call for Desperate Measures

By
Real Estate Agent with The Peters Company, Keller Williams Realty - Peachtree Road

Lesley and I are fortunate to go on at least two listing appointments every week.  So, we must get a lot of listings, right?  Well, we certainly are successful securing listings, but we don't want every listing.  You see, many desperate real estate agents take listings regardless of the situation because they know in their heart of hearts that even if the listing can't and won't be sold that they can use the listing to promote themself.  It's a terrible reality, but it is just that, a reality.  When we all agree to agree to take a listing, Lesley and I take it because we genuinely believe we can sell it.  We aren't desperate.  We aren't in the business of listing homes.  We are in the business of selling homes.  If we can't sell your home, it bothers us.  We don't sleep well at night.  You aren't happy.  You don't use us again.  You don't refer us to your friends and family.  We are sad, and eventually we become desperate.

So, what would cause us to not take a listing?

1 - Price - it's hard to sell a home when it's priced so high that it doesn't attract buyers.  We are very realistic on price, and we play to the percentages, not to the possibilities.  This has helped us achieve an average days on market much lower (30.4 days) than the average Atlanta real estate agent.  We tell everyone that we meet with for a listing presentation that there will definitely be another agent that will come along and price their home higher than we would.  That will always be the case.  We completely understand when someone feels like they must "try" to sell their home at a higher price with another agent.  Unfortunately, the market stats suggest we have far more "tryers" as opposed to sellers considering 67% of listings fail due to being overpriced (ChartMaster 3rd Qtr Market Stats). 

2 - Condition - in this buyers' market, you have to be competitively priced and you have to be the "prettiest."  If a buyer sees a defect in your home, they don't discount in hundreds of dollars.  They discount in thousands of dollars.  It's hard to build value to a buyer when there are glaring defects that a seller is not willing to repair.  With high inventory, it is easy for a buyer to simply move on to the next listing without batting an eye.  It's very unlikely that we will walk into the absolute perfect home that needs nothing done in order to get it ready for the market.  Part of our listing consultation includes a walk through of a home to make some clear cut recommendations on what exactly needs to be done in order to maximize your opportunity to sell in the least amount of time for the most amount of money.

3 - Financial - sometimes it is just not in the best interest of the seller to sell.  If someone is severely upside down on their home, we don't want to take that listing unless the seller absolutely has to sell.  If they have to sell and it isn't pretty, we coach people to explore short sell options with their lender to avoid foreclosure.  We tell more people not to sell than we do ask for their listing, and that's the honest to goodness truth.  The rental market is booming right now as more and more people realize that renting their property gives them an opportunity to fulfill their obligation to their lender and hold on for a better day.  We want that better day for everyone if it's in their best interest.

We know that selling a home can be a very stressful experience or a very enjoyable experience.  We are the difference maker.  We are not desperate.  We do not do desperate things.  We follow a time tested model that allows us to sleep at night.  We study real market statistics that give us important clues and direction when listing and buying property.  Continue to think like a buyer, and if you are looking for an agent that will give you the straight talk on selling in this market, look no further.

Comments (1)

Brian Belcher
RE/MAX Executive - Charlotte, NC
Charlotte Realtor

Hey, great post. It sounds like you have a couple of good reasons not to take a listing.

Nov 18, 2008 01:44 PM