When I started out in this business, I was just as determined to succeed as I am today, but a lot less experienced. Over time, I have learned the difference between a good listing and a bad listing. Truth be told, the bad listings were bad because I didn't price them right, and on occasion, I made the rookie mistake of letting the seller sit in the drivers seat.
Times have changed. I learned quickly, that the key to success was to price the listing aggressively and to negotiate from a vantage point that left little wiggle room with regard to price. I learned that the first 30 days were the key to the whole listing period. Most of the traffic came in the first month. After all, the home is new to the market and I always hold one open house each of the first four weekends of the listing period. That turned out to have wonderfully positive reprecussions, as I was able to capture some of the buyers that would preview my open houses. The more aggressively the home was priced, the greater the foot traffic, and the greater the chance to sell the home or pick up buyer prospects.
Never again will I over price a listing, simply to get the listing or to make the homeowner feel good about their home. I have firmly planted myself in the drivers seat of every listing appointment and subsequent listing. I urge any new agents to do the same. Don't be afraid to let the listing go to another agent. Especially in this market, overpriced listings become expired listings. Picking those up has been an art as well, via my five touch campaign. I love coming in on the back end, brimming with confidence and spouting harsh truths that are bound to capture the sellers attention and fill them with assurances that when they list it with me, they won't have another expired listing on their hands.
I always prided myself on my conversion rate and it certainly did improve as soon as I learned to "just say no" to letting anyone else get into the drivers seat.
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