YOUR listing is expiring so here's what I'm going to tell the sellers

By
Real Estate Agent with The Mustafa Group

I oftentimes get calls from sellers when they are counting down the days until they expire. It's like the 12 days before Christmas for them. They are riddled with anxiety, disappointment and frustration from watching everything around them come up and go down [sold] but they still remain on the market and rightly so, they want to know WHY?

help

My first meeting with the sellers is full of compassion. They have had it with the market and want to move on with their journey in life. They are aprehensive about believing a REALTOR at this point but want to know what it's going to take to finally sell their home, get the family back together again and what is the collateral damage. Oftentimes sellers can be living in two different states and houses, tracking back and forth to keep the family together and the uncertainty of when it will all end is excruciating. At this point, it's easy....I listen....

#1. Compassion for the situation, If you're getting traffic and no offers, and you like your agent - My Advice; REDUCE YOUR PRICE and stay with your agent, they have worked hard I'm sure but can't control the buyers out there, By the way Mr. Seller, have you had any offers? If so, what were they? Oh yeah, your price, who recommended the price you were listed at?

#2. If they feel there is no going back, and they want a new strategy, I ask them what they liked and disliked about the prior listing/agent. I make sure I do what they liked (within reason) and better yet, DON'T DO...what they didn't like.

#3. I am prepared for this listing presentation and I know my market inside and out. I come with a CMA, Absorption Rates, Tax and Legal and I have memorized my potential objections. If they are interested in my 'global' marketing strategy, I have that as well.

#4. I have the answers, if I don't - I don't fake it. I tell the sellers I'll get the answer for them today and get back with them.

#5. I ask how they like to communicate and get e-mail addresses as it's the easiest way to do so.

#6. I ask how soon they would like to be sold and have a range for my list price as in, Sold next week or sit for a little while, the later I don't recommend.

#7. I have a NET PROCEEDS sheet showing what they walk away with if they accept this price today but focus on the end result of getting the family together and moving on with your journey in life.

#8. I have a staging checklist to leave with the sellers of what to do during a showing and any little repairs that may need to be done.

#9. I have a contractors list of several contractors in hundred of categories. If they need help, it's at thier finger tips.

#10. I have a listing contract and all supporting documents - YES, I ask for the listing.

#11. Lock Box, Sign and Camera are with me and I'm ready to put this listing on the market NOW.

#12. As in the 12 days of Christmas, If they decide to continue to do the same thing and expect different results, I leave ONLY my business card and kindly ask them to call me if they need help in the future.

I want your listing and I ALSO want to make a living so how can I help you?

If you can add to my list, it's welcomed and greatly appreciated!

 

 

Posted by

Cindy Mustafa, REALTOR, ABR, CDPE, E-Pro

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Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. Tre Pryor 12/27/2010 05:58 AM
  2. Peggy Lyn Speicher 12/27/2010 08:05 AM
  3. Carri Brown 12/27/2010 10:53 AM
  4. Cheryl Ritchie 12/27/2010 02:03 PM
Tags:
selling a home
cindy mustafa
homes in aurora

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Rainer
177,981
RYAN Kruithoff - TEAM K
Five Star Real Estate - Holland, MI
My family Serving Yours!

I work alot of expired listings. Thanks for the post. Great job!

Dec 28, 2010 05:53 PM #84
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

Thank Ryan, It's getting harder and harder to do because of hardship. You need a thick skin for this, for sure!

Best Wishes,

Dec 29, 2010 12:22 AM #85
Rainer
158,135
Rhonda Abbott
Howard Hanna - Wadsworth, OH
Wadsworth & Greater Akron, OH

Super post - wonderfully helpful to a newbie like myself!  Thanks for sharing!

Dec 29, 2010 12:43 AM #86
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

Ronda, Thanks for your response, I have found it very important to read everything I can about how people conduct themselves in real estate. I find it interesting the more I read and try the programs other use, the better I get at what I am doing. No one's perfect but try it and then message it for your business. You will grow!!!

Keeping up to date on Active Rain posts......PRICELESS!

Best Wishes for Great New Year!

Dec 29, 2010 01:21 AM #87
Rainer
13,482
Lane Mabray
Houston/Katy; RE/MAX Westside Realtors - Houston, TX

Reading people and how they process information helps to determine how to communicate the good, the bad and the ugly info to them. If they are information people like engineers or CPA types, then just inundate them with stats and info. If they are bottom line people, then just be honest and give them the bottom line. 1,2,3. I find most inexperienced agents talk too much and don't listen or watch for the signs the person is giving out. Study neurolinquistics and you will be able to know if you have an auditory, a visual or kinetic person. In otherwords, how do they process information. For instance, if you have a visual person put something in front of him/her to "see". If auditory, talk more to them. Hope this makes sense. I change my way of presentation once I know which way they process information best. If they are looking for a new agent, the previous agent obviously did not communicate the way they process info. Does this make sense?

Dec 29, 2010 02:10 AM #88
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

Lane Mabray - YOU should be the one featured here....this is awesome. I want to learn this so I'm looking up neurolinquistics to find out the basics of how I can tell how a person is processing information - I LOVE THIS!!!!! You Rock and Thanks for the info!!!!

Dec 29, 2010 02:34 AM #89
Anonymous
Peter Michelbach

Cindy,

thanks for sharing...good points, believe, Claudette #8 a strong point 'lower the price'... and liked Lane's #88 'reading analysis'...in addition, I prepare a

pre listing kit, send 24 hours before an appointment, plus

have a contract (Offer and Acceptance called in WA) already filled in during the listing presentation.

Best for 2011. Peter from Perth, WA

Dec 29, 2010 03:39 AM #90
Rainer
37,641
Brad Hornshaw
Brad Hornshaw Realtor Lynnwood, Bothell, Everett - Lynnwood, WA
Realtor, Listing Agent, Buyers Agent, Investments
Wow Cindy This is good info. I am new to the business And will surely use this Thanks
Dec 29, 2010 06:03 AM #91
Rainmaker
223,718
Liane Thomas -Top Listing Agent
BROKER Allison James Estates & Homes BRE 01885684 - Corona, CA
Bringing you Home!

This is a pretty good list. The only thing I would add is an open house schedule for the first weekend on the market.

Dec 29, 2010 07:24 AM #92
Rainmaker
433,450
Phil Parisi
Better Homes & Gardens Real Estate Laviano & Associates - Jensen Beach, FL
Specializing in Florida's Treasure Coast

Good Post

Dec 29, 2010 04:08 PM #93
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

#90 - Peter, I'd like to know more about your 'pre=listing' kit and what's in it? That sounds extremely useful! Thanks...

#91 - Bran, Good Luck and keep reading AR

#92, Liane, Open houses in my area are pretty dead along with Broker's, they still work for you? I read on AR that the best open is one with only 2 turns to get to it and must have a feature of delight like waterfall, atrium, lake, pond or something really special.

#93, Phillip, Thnks for the thumbs up!

Best Wishes for a Prosperous New Year to us All!!!

Dec 30, 2010 12:48 AM #94
Anonymous
Peter Michelbach

Cindy,

as a grateful and proud  ex RE/MAX trooper - over 5 successful years --- in 2002, my 1st year with RE/MAX, I achieved  EXECUTIVE CLUB MEMBERSHIP, and it is my pleasure to send you my pre listing kit.

RE/MAX had the best training, systems and culture in place at that point of time....

After my loyal and friend Broker closed down for family reasons, I completed the TRIENNIAL LICENCE  (Broker), however enjoy working since in a very smal and elite firm under the umbrela of another loyal and accountable Broker.

Will send you my pre-isting kit, on your private email. Best for 2011! List, List and Sell! Peter - W.A. 

Dec 31, 2010 12:34 AM #95
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

Peter,

You and I already have a lot in common. When Realty One Shut down in 2008, I had 42 transaction sides and a single agent without assistant but backed by a fine company.

I joined RE/MAX in 2009 [18 transaction and a painful realization], experienced the "Executive Club" but I believe my fate was skillfully crafted from prior training at Realty One. 2010 brought 34 transactions and a buyers agent or two are on the horizon.

I've conducted 'pre-listing' calls to make determinations of motivations, it works pretty well for me BUT taking a gander at a prelisting presentation is something that I would be very interested in.

At the end of the day, we are constantly evolving and growing to make a better business, for us and for our clients.

I commend you on your professionalism and leadership and wish you the best in 2011.

Warm Regards,

Dec 31, 2010 01:46 AM #96
Rainmaker
273,464
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is a pretty through list Cindy, but if you don't get it priced right, nothing else matters. Good luck in 2011.

Dec 31, 2010 01:59 PM #97
Rainer
69,054
Robert Courtney
Lihue, HI
Century 21 All Islands, RA, CDPE, MCRE, CIAS

I agree with Tigard.  Priced right to the market is the key.  Maybe getting them into the car and going to see similar properties that sold or are pending to let them see the answer's to their questions or concerns would be in order before signing a new listing agreement.  

Jan 02, 2011 04:11 AM #98
Rainer
13,482
Lane Mabray
Houston/Katy; RE/MAX Westside Realtors - Houston, TX

Hi Cindy, I love that you taught Howard the "Next" sentence. As to the Neurolinquists was developed by Dr. Richard Bandler....I can send you what I know. I use this all the time....to practice..take someone to lunch and watch how they decide what to order by the way thei look at the menu, you'll know immediately how they make decisions. If they say "the salmon looks good", you PROBABLY have a visual processor. if they say "the salmon sounds good"  you most likely have a person who communicates best via auditory. All people have back up processing system too. Sorry, I know this is not on the subject, but you asked. Email me and I'll give you the other stuff. lane@lane2houston.com.

Jan 02, 2011 06:31 AM #99
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

#97, Tigard - touche! It's all about price

#97 Bob,  Tigard is 'spot on' and oftentimes, they don't want to get in the car when we show them the print outs, they want to be the next one sold but GREAT THOUGHT! I've tried it myself. In 10 years only one was insistent about seeing that 'there must be something about that house for it to be priced so low, let's go see it!"

#99, Lane, This is GREAT info! I'll watch next time, this should be fun!, I'm sending an e-mail and hoping to connect. Thanks again!!

Jan 02, 2011 08:37 AM #100
Rainer
13,482
Lane Mabray
Houston/Katy; RE/MAX Westside Realtors - Houston, TX

I thought it funny that I observed I was # 99 and you were #100. Remember "Get Smart"? I am going to contact you via email.I love this post, your ideas and attitude and the comments by agents who obviously take their career seriously and care about their clients.

Jan 02, 2011 08:56 AM #101
Rainmaker
26,176
Cindy Mustafa
The Mustafa Group - Aurora, OH
Aurora REALTOR

#101, Lane - YEAH! 101, I thought I'd NEVER make it, YEAH again!!! Thanks, Cindy

Jan 02, 2011 10:32 AM #102
Anonymous
Peter Michelbach

Hi Cindy,

....yes, on the trenches of live, we surely have shared similar great RE/MAX experiences and insights...but the journey goes on... and to you and yours all the best!

..did you get the pre-listing kit yet?

Best Peter abc88@people.net.au

 

Jan 03, 2011 02:17 AM #103
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Cindy Mustafa

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