listing strategies: Sixteen Ways to Keep Your Seller Happy with You
- 09/23/09 11:13 PM
What's the Number One Thing "they" say that homesellers complain about?
All together now...
Communication (or lack thereof) from their agent. And, having been on the other side of the For Sale sign a time or two, I can certainly second that emotion. But "communication" isn't just about calling every week to say "Hi, how're doin'?" No, it's also about keeping the seller informed on local market activity. On providing feedback from showings. On notifying him of new competing listings and recently closed sales. And, frankly, on making sure the seller knows exactly what his agent's been up to to … (17 comments)
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listing strategies: Even If They Don't Complain... Sellers Notice
- 09/22/09 11:17 PM
If the brochure box is empty... they notice
If their brochures still show the original price after two reductions... they notice
If their agent hasn't done in an Open House in six months (or ever)... they notice
If no feedback cometh after showings... they notice
If there haven't been any showings in a month... they notice
If their Craigslist ad hasn't been refreshed... they notice
If their agent hasn't updated them on market activity... they notice
If their online photos are from two seasons ago... they notice
If the only time they hear from their agent is when he calls to ask … (22 comments)
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listing strategies: If Your Seller Authorized You to Spend $2,000...
- 06/30/09 12:30 AM
I don't know about you, but I'm very much enjoying this debate on whether or not we listing agents can positively affect the market value of our listings. I believe we can. And frankly, I'm stunned at the amount of opposition to that notion.
Now, a disclaimer - I don't work in a distressed market, so I shall defer to those who do that they know more about selling homes in that environment. Fair enough. If you work mostly REO's and short sales, you are excused from this discussion. Although... well, I'll get to that in a sec.
For the rest of us... … (37 comments)
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listing strategies: Any Idiot Can Give Their House Away...If Price is All that Matters - What do they need us for?
- 06/28/09 11:41 PM
This is yet another follow-up to the topic of "Is Price Always the Best Answer to a Non-Selling Listing?" that I started last week. You can read more HERE and HERE.
Real estate agents are quite fond of the philosophy that "Price conquers all," meaning that if you price a listing low enough, it will sell regardless of the challenges the property presents.
Fair enough.
But I must ask. So what? Is that our job as professional real estate agents to simply recommend a price low enough that any piece of junk will sell?
Or, rather, is it to help our sellers get the … (160 comments)
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listing strategies: STOP! Before You Reduce the Price...
- 06/26/09 12:16 AM
Picking up from Wednesday's "If Your Listing Isn't Selling..."
So, if your listing isn't selling and you've agreed with me that perhaps price might not be the best solution, what else can you look at?
Well, it might be really simple. Have you checked access lately? Lockbox still there? Key still in it? Key still work in the lock (sticky locks kill showings)? Is the seller declining or restricting showings?
Have you previewed your listing lately? Does it still show well and smell good?
How's your MLS description? Is it dull ("3 bedroom/2 bath ranch in Woodbridge") or jazzy ("Mid-Century tri-level with … (23 comments)
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listing strategies: When Your Listing Isn't Selling, What's the First Thing to Fix? All Together Now...
- 06/24/09 01:31 AM
excerpted from my new book "If You're Not Having Fun Selling Real Estate, You're Not Doing it Right!"
When your listing hasn't sold, what's the first thing you look at?
PRICE!
Right?
Nope. Not always. Not even most of the time.*
Many real estate agents claim that price cures all. And in a way, they're right. If you have a listing that shows poorly or is difficult to show or smells funny, there probably IS a price that will inspire buyers to overlook the clutter, access issues or eau du Chef Boyardee.
But is price the RIGHT answer? Again, not always. Not … (23 comments)
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listing strategies: Average "Days on Market?" Who CARES?
- 01/06/09 11:40 PM
Why do we put such stock in the Average Days on Market (DOM) statistic in our MLS's? I suppose it might be meaningful if YOUR average DOM is much less than the overall DOM, but otherwise, I believe it's a totally meaningless number.
If I were to run a market analysis of all the 1920's Bungalows that have sold in my market (NW Denver) in the last three months... (okay, wait a sec, I'm going to do that right now... BRB).
Okay, I ran my analysis. Had to go back six months 'cause the last three have been kinda quiet around … (27 comments)
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listing strategies: My Dear Home Seller; What's Your Plan B?
- 07/06/08 12:15 PM
I recently had a listing expire after three months on the market. Nothing has sold in my client's neighborhood for almost a year, so it wasn't a big surprise. We gave it a shot and it didn't work out for us. No biggie. She was prepared for the possibility and has no hard feelings toward me.
But that's not an accident. I always prepare my sellers for the chance that their home won't sell, despite our best efforts (by "our," I mean mine and my seller's joint efforts to prepare and present a great product to market). I don't make a … (36 comments)
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listing strategies: "I'm the Best Listing Agent I Know." Are you?
- 07/02/08 12:00 AM
During the now-becoming-infamous Real Estate Radio USA interview earlier this week, I made the comment "I'm the Best Listing Agent I Know." Arrogant, eh?
Not really. It's not as if I said "I'm the prettiest girl I know" or "I'm the smartest girl I know." It's more along the lines of "I'm the hardest worker I know." It's a choice.
I choose to be a terrific listing agent. It's not a God-given skill or something I was lucky enough to be born with. It's a choice.
I choose to spend time (and gas money) properly pricing my properties. I choose to … (20 comments)
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listing strategies: Offering Home Sellers a Menu of Services - BAD IDEA!!! (IMHO)
- 06/24/08 06:41 AM
Have you ever heard the commission-negotiation-avoidance strategy of creating a menu of packages for a seller to choose among? For example (all figures are illustrative only), you might offer a 4% package which includes minimal services; a 5% package which has a moderate level of service and a 6% package that includes a kitchen-sink level of service.
Sounds good, doesn't it? After all, it demonstrates to the seller what you actually DO to sell a house and probably reduces the likelihood of his asking for a discount. If he wants to pay less, he gets less. HIS choice.
Sorry, but I think … (70 comments)
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listing strategies: Home Seller’s Regret – Two Types – Which Would You Prefer?
- 05/01/08 02:44 AM
Y’know, it’s tough being a listing agent. No matter how good of a job you do, the margin for error is huge. If you sell the house too fast… you blew it on the price and “cost your seller money.” If the house takes too long to sell… well, we all know what happens then. We didn’t live up to our promises and we disappointed our seller.
I’ve decided that the best time for a house to sell is about two weeks after listing. Unfortunately, I don’t know of any way to make THAT happen with any regularity, but if I … (19 comments)
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listing strategies: Real Estate Agents: Get Good... or Get Out
- 10/16/07 11:44 AM
Yep, that means exactly what you think it means. If you are not a good real estate agent, get out of the business now before you spend one more dime or dollar on your personal marketing or MLS dues. Give your overpriced listings to someone else who will price them right and market them intelligently. (That way you might actually see a few dollars from your efforts down the line when the referral fee comes due after closing.)
Gone (for now) are the days where being a good real estate agent meant you were a Good Prospector. NO ONE IS IMPRESSED … (98 comments)
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listing strategies: What Your Home Sellers May Not Know... but need to
- 09/12/07 03:22 AM
Loreena Yeo wrote a blog from her hospital bed today that, as her writing often does, inspired me to put my own two pennies on paper.
A few weeks ago, my partner and I put a Charming Denver Bungalow on the market. Our seller is one smart cookie and he's sold several homes on his own. We didn't want to insult his intelligence by boring him with all the details of having a home on the market; we figured if he had a question about the process, he'd ask. Oops.
Well, now he's asking. In a rather annoyed tone of voice, … (19 comments)
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listing strategies: Real Estate Agents, Just Say NO to Price Reductions!
- 07/11/07 07:48 AM
I don't believe in price reductions. Never have. I believe that just about any home can sell in 30 days or less, in any market, if it's priced properly on Day One. And no, by "properly" I don't mean "under" although that may very well be the case in many markets. If a home sells in the first month of marketing, it WILL sell for market value and the seller will almost certainly obtain the highest possible price. We all know that extended marketing times do nothing positive for the eventual sales price, not only due to the perceived stigma of a … (75 comments)
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listing strategies: Dear Home Seller... Trust me, I know what I'm doing!
- 04/12/07 12:52 AM
I just read Midori's great blog called "Pssst... Mr. and Mrs. Seller, Can We Talk?", which reminded me of something I used to include in my listing presentations. I don't know if my seller prospects much LIKED it, but it made me feel better for saying it... What do YOU think??
Dear Seller,
In my 10 years of experience, I have learned a thing or two about the selling of real estate. Like all real estate agents, I have experimented with various sales strategies and gimmicks, and I know what works and what is a waste of time and money.
I … (27 comments)
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listing strategies: What does a listing agent DO for all that money?
- 03/31/07 02:21 AM
I was cleaning out old files this morning and came across this little blurb I wrote years ago and used in my listing presentations. If you like it... feel free to use it!
What does a Real Estate Agent DO for all that money?Many people think that the main reason you hire a real estate agent is for MLS exposure. And, unfortunately, in some cases that may appear to be the primary service some real estate agents provide. However, a GOOD agent provides much more than simply a For Sale sign and a listing on an online database.
ConnectionsA good real … (17 comments)
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listing strategies: Being Up-Front with Our Sellers - Part II - Tenant-Occupied Properties
- 02/05/07 03:02 AM
... continued from: Being Up-Front with our Sellers, Part I ...
Tenant-Occupied PropertiesAn obstacle I run into time and again is a seller who doesn't understand the difficulties of showing, selling and closing a single-family tenant-occupied residential property. The typical situation is that my seller client has a nice little home with a nice little tenant and he wants to sell with the current lease intact. In other words, he doesn't want to kick the tenant out before marketing because he needs the monthly income from the tenant's rental payments. Fair enough.
What he needs to know from me are … (2 comments)
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