Chasing Million Dollar Deals And Forgetting Your Bread And Butter Real Estate Listings.

By
Real Estate Agent with MOOERS REALTY ME Broker License 106759

    

There is an expression in hockey about "there are no ugly goals." Real estate sales are like that.

I have never listed a property I did not want to sell. But what if a broker has an "ah ha" moment? Decides he or she is better served to only sell, go after and market the big ticket properties? Especially in a rural areas of the country where moderate priced property is what moves. Disappointment and heart break are around the next corner. Don't stop having the higher priced properties in your inventory to market and promote. But swivel your head and study the local property turf.

    Think about the high end real estate listed now. Yours or brand X's. And if the prices are so high they are not going to sell, have no hope of appraising if a bank is involved, those listings are stealing resources. Your time, money, attention. Over priced property listings of any kind with non flexible sellers with a high crank factor, a short fuse or hair trigger when the sale gets bogged down steal the thunder, plungersizzle of your passion to promote property, your area, your brand. Their expectations are too high fueled by you agreeing to the listing and suddenly what is the Allman Brothers song about "Not Your Whipping Post"?

    

Those listings plug the real estate pipeline and you have to field those calls, visits on what's wrong with you, how come my palace in a Mayberry has not sold yet punk?"

     At a radio station I worked at in Bangor Maine back in the 70's, the format was basically top forty. But it was cool to have an image as a rocker to broaden the listening market to include the 18 to 34 years olds in the accumulation stage of their lives. To play a lot of hard rock would alienate the other middle of the pack listeners. So carefully, something a little out of the top 40 stream would be slipped in to the color chart rotation. Red songs were hits rotated every 2.25 hours. Browns were losing their chart status, cooling off and in a 4 hour rotation. Greens were new promising songs weaved in one an hour. Golds were the memory makers that took you back to happy earlier times. Purples were a once in a while insert record and had a large supply to draw from. The image song was black. Usually  a Led Zeppelin, Pink Floyd record that was a trick to tone down, weave in to the rotation between ELO and Fleetwood Mac's newest hit. The tunes were played at 47 not 45 rpm so when you heard the same hit on another station cross city, it sounded slow, dragging. It was. This allowed an extra song or two to be played each hour so you could literally claim "Z-62 plays more music. All the time." We used an image song no one else was playing to distance ourselves further from the competition on the air waves.

     Does it look good to have high end real estate in your inventory if it will not sell? Isn't that like a corvettetrophy wife, or a status attitude? Or the small town car dealership in a minimal wage area with a Corvette sticker priced at $62,999 parked in the glass walled show room to ooh and ahh over? Except with the car, another city dealership down state where the money is could wisk it away. Use the wheels to move it, find someone in another area that can afford the keys.

     Real estate is not like that. It is a fixed base asset (except mobile homes and double wides!) It's not going anyway as a rule. You get a turn if it is a musical real estate brokers "image" listing but you don't kinda, sorta list them to hope to maybe sell the property right? Don't neglect the meat and potato listings in your market. The average Joe and Jane like you and I also work their way up, and there are more sales if volume is your plan. Who wants to sell one property at a time and in small areas like Northern Maine, it's a variety every week. A country ranch, a mom and pop grocery, an acreage that is begging to be subdivided with long long road frontage.

    I love to sell a Taj Mahal property as well as the next broker. But to forget the rest of the listing pack in the process is shooting yourself in the foot in rural America, a place like Maine where the local pay scale won't support the nose bleed price tags. Are you listing over priced high end for some kind of image as being well rounded, with lots of face card, ace listings for show?

Maine REALTOR Andrew Mooers

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Topic:
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New England Professionals
Small Town Rural Marketing
Maine ActiveRain
Small town Real Estate
Tags:
real estate listings
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Rainmaker
655,963
Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

That plunger is so funny and yes success is measured one family - one yard at a time.  Top dollar homes are fantastic to sell.  In our Ann ARbor Real Estate market there is over 5 years of supply of luxury homes. 

Jan 29, 2010 10:47 PM #1
Rainmaker
1,945,657
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Sales is the name of the game..the target to shoot at. Thanks Kathy!

Jan 29, 2010 10:55 PM #2
Rainmaker
4,996,230
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Andrew......I market for listings everyday.....we're listing agents and we'll take on the good, the bad and the ugly.....ugly sells well today.....I never get excited when a listing call has a $900k home attached to it.....they usually don't like the price we give them, so we don't take it anyway.

Jan 29, 2010 10:58 PM #3
Rainmaker
1,945,657
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Agree Barb. The rough around the edges, the dirty but nice, ae affordable and super projects for the DIY guy/gal. Whenever the price on a property ignores the market, it sits, molds, and other property around it one by one gets a new owner.

Jan 29, 2010 11:04 PM #4
Rainmaker
1,051,946
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Andrew...My average property sells for 200K, Last year I had two sale over 800K...they were accompanied by pushy sellers and miserable buyers...and too as much time and mental energy as 5 normal sale each. I'm happy to have completed them, but no longer make a big play for those listing...if they are meant to be so be it, but I'm not hunting them down.

Jan 29, 2010 11:29 PM #5
Rainmaker
1,945,657
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Hear you Steve. Welcome to Northern Maine..average house price $80,000 and you can buy quality for less than the median too. Land for under 500 an acre. It's not like that everywhere so in our area, being a general practioner "doctor" of real estate making house calls for the middle of the stream and starter places is where to pan for gold.  I would rather have 140 sales salt and peppered with the lower end that just list, sit on and rob time with an emphasis on just gold plated real estate in a Mayberry laid back town that does not sell, is over improved.  That said, listings on high end when the seller is ready to acknowledge the market and sell, price them fairly makes a fire sale, fall in line with the area values sale that are pretty special with four kids in college (2 out, 2 to go). I think of all those SOLD signs, the activity of P&S's making the fax machine smoke from heavy use and the repeat customers from those intial sales. You can talk all your want about how great your marketing plan is, what a super person you are inside but results are what buyers and sellers want...and lots of SOLD properties show them all along the highways without you having to open your mouth. Work hard Steve!

Jan 30, 2010 01:07 AM #6
Rainmaker
747,363
Robert Hammerstein
Keller Williams Valley Realty - Hillsdale, NJ
Bergen County NJ Real Estate

Andrew - Makes me want to buy up by you but not sure I could stand the temps...lol Our average sales can range anywhere from 300k to 800K.... And you got to work hard for them as well... Nice post...Keep warm

Jan 30, 2010 09:45 AM #7
Rainmaker
1,945,657
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Robert...after showing a Grand Lake cottage today went skiing, and tomorrow snowsledding. 19 degrees average winter temperature or higher and we don't hibernate. No dog sleds, igloos.

 

Jan 30, 2010 04:17 PM #8
Rainmaker
1,048,784
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Selling a million dollar home is great but it is the bread and butter that I want to list:)

Jan 31, 2010 04:50 AM #9
Rainmaker
1,945,657
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Bill, your know where more sweet spots are. Larger audience for any property means quicker sale. A good listings is exciting. You know if will sell and getting fired up over listings the market will gobble up is a sale in the works.

Jan 31, 2010 11:34 AM #10
Rainer
22,875
Sarah Pearce
eXp Realty LLC - Wiscasset, ME

I know how it is Andrew. has a super deal (-80,000 off original price) in a rural town, sat there for years. Then a fellow agent lists a mess at the other end of town, it is gone before they can even clean it out. Currently working on getting all my high price listings to dump their land and list under 300,000.

Feb 03, 2010 10:35 AM #11
Rainmaker
1,945,657
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The over priced ones can surprise you. Like musical chairs....the ones that just sit there like icebergs and rotate thru the local deck of brokers, suddenly find the market caught up. They will sell once you dust them off and aggressively reshoot the images/video and write copy from a different angle to make it new and different.

Feb 03, 2010 11:23 PM #12
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Rainmaker
1,945,657

Andrew Mooers | 207.532.6573

Northern Maine Real Estate-Aroostook County Broker
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