Charlotte's average "Days on Market" isn't too high...Your List Price Is!!!
Finally three years into the business and I am completely fine turning down any listing I think is over-priced or a waste of my time and money. Many who are first starting in real estate want to get their signs in peoples front yards. I understand this because this is where I was a couple years ago. What I learned is that those overpriced listings do not produce quality buyer leads and do not help me build a trusting relationship with the sellers.
So far in September I have turned down one listing and did not re-list a house because both sellers were unrealistic with their list price. Every real estate agent can probably name a couple agents in their area that will take any listing at any price. These agents build a reputation for being unrealistic and they aren't doing their job as a trusted adviser if they have not told their sellers that they are overpriced.
WHAT HAPPENS TO OVERPRICED LISTINGS???
Overpriced listings tend to chase the house prices downward and if/when they finally do sale, it is at a value much lower than what the seller could have achieved if it was priced right to begin with.
Example: You list at $210,000 and your agent tells you we are in a declining market and your house should be listed around $190,000 to reflect market values. Three months later you drop the price to $200,000 but now your agent tells you that the values have dropped and you should be listed closer to $185,000. Another three months go by and you drop the price to $190,000 (where you should have been to begin with and you would have already sold the property and be in your next dream home) but now your house needs to be listed between $175K-$185K.
See how this hurts the seller? If the seller would have listened to the agent and listed at fair market value to begin with, then the house would sale much faster and at a higher price than if you keep reducing the list price trying to catch the declining market. It always makes me question the seriousness of a seller when they say... "I know the value of my home, you don't need to show me those comps."....this is when I usually walk out the door and wish them good luck. It seems that many sellers think that agents want to come in and get an under-priced listing so that we can get paid fast.
I HOPE AGENTS DON'T THINK LIKE THIS. I WANT MY SELLERS TO NET AS MUCH AS POSSIBLE BECAUSE THIS WILL STRENGTHEN MY RELATIONSHIP WITH THEM AND INCREASE MY CHANCE OF RECEIVING REFERRALS FROM THEM.
So I took a listing 12 days ago. The seller told me he would only let me list the house for 14 days but he did list the house at what I thought was fair. I put the house under contract lastnight after only 11 days and proved to myself that there is still a lot of buyer activity out there. I, like all other agents, felt my business drop after the tax credit deadline. Now I have a handful of listings that will close and a bunch of buyers.
Any agent who says there are no buyers out there has either lost their mind or their drive to network.