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Are You a Collector............of Listings?

By Lorraine Sayer

Real Estate Agent with Monument, Black Forest, Falcon, Fountain homes

June 21, 2010 03:23 AM

There are certain character traits shown in collectors. They are passionate about the item they collect, they love to display their collections, they love to brag about their unique finds in the collection, and they love to hang onto them....FOREVER. What are you when it comes to listings: a collector or a business owner?

selling a home

Let's state the obvious here. As Realtors we obtain our commission when the property sells and we are then rewarded for our efforts. If we don't succeed then we have invested time and money with no return. How many businesses do you know surviving today on that model?

If you are taking overpriced listings just to get a sign in the yard then you have crossed over to collector. The CMA ( market analysis) is there to help you as well as the seller. It is a guide to be used to find the range that a home is most likely to get an offer from an interested buyer in today's market. It's also a guide to let you know when it's time to walk away from purchasing another home for your collection. Yes, you are purchasing a home for your collection when you invest your $ without any hope of return.

Take a look at your listings today and see if you are really working a business or if you are hoarding a collection of homes.

For more information on home sales in the Colorado Springs area contact Lorraine Sayer

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Sonja Patterson

Keller Williams - BV - College Station, TX

Texas Monthly 5-Star Realtor Recipient for the Hou

Good point, Lorraine! I just closed a listing that I got after it had expired with another agent. The listing was priced too high with her. It was priced above my recommended list price when I first put it on the market last Sept...but they finally came down to reality and we closed last Tuesday!! I know some realtors who let people price it where they want...but they also have the seller sign an agreement stating they will come down 3% or 5% or whatever they deem necessary when the property has not sold in x amt. of days.

Jun 21, 2010 03:30 AM

Gary Pike

Better Homes and Gardens Real Estate Metro Brokers - Powder Springs, GA

Excellent way to state the buying of a listing. I am constantly losing listing opportunities because I refuse to take a listing above what the market will pay. In most cases I watch as the price comes down and then finally, after months on the market, sells right where I originally had them priced at.

Jun 21, 2010 03:51 AM

Shelley Rowton

Move To Realty - Austin, TX

ABR, RSPS - (512) 507-5779 MoveToRealty of Austin

Great point! My first year, I was a bit of a collector. When I moved and had to switch brokerages, I made a decision. I only bought 6 signs purposely. I told myself that was all I could have - so I have to make sure the listings I take are priced right and then I work to move them quickly! I need that sign back before I can take another one!

Jun 21, 2010 04:37 AM

Lorraine Sayer

Monument, Black Forest, Falcon, Fountain homes - Colorado Springs, CO

Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX

Sonja: I think it's a good idea for the agents that take overpriced listings to have a pre signed agreement to drop the price. I'm just known for being straight up with my folks and I won't use the bait and switch game of getting the listing by telling sellers that yes we can get X amount of dollars when in my gut I feel it's going to sell in a different range. I'm glad for you with your closing. It's not always a bad thing to be Realtor #2!!

Gary: Don't worry about losing the listings. Overpriced listings consume your business and pocketbook and most times disgruntled sellers will expire or cancel before you can get them to a price point that will move. And it's so easy to blame the Realtor.

Shelley: I love your idea of swapping signs. It sure is a motivator and a very practical way of running a business.

Jun 21, 2010 05:17 AM

Brigita McKelvie, Associate Broker

Cindy Stys Equestrian and Country Properties, Ltd. - Lehigh Valley, PA

The Broker with horse sense and no horsing around

Lorraine,

I personally don't know why any agent would want to collect listings. They are doing a disservice to their clients. What is even more irritating, is that some agents will take a listing, even if it is overpriced, just to get a sign in the yard, knowing that the home will not sell at listed price. Why put all that effort into a listing if you are not going to sell it??

Brigita

Jun 21, 2010 05:52 AM

Are You a Collector............of Listings?

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