Collecting Listings Could Lead To A Period Of Collecting Coin!!!

Reblogger
Real Estate Agent with RE/MAX Executive Realty, Medway, MA 02053

Listing property today at fair market value and not at an inflated price is essential, if the homeowner is serious about selling.  If the homeowner is not serious, it should not be listed.  An overpriced listing is useless to both the agent and the seller.

Original content by Barbara Todaro 104763

 

As the business of listing property becomes more competitive, there are more overpriced listings going on the open market.  These listings have activity for the first few days, and then they sit stagnantly and wait their turn!!

Why do agents continually list ever property they enter to give a presentation?   Not all properties should be listed.  Not all sellers need to sell.  The common statement of “we don’t have to sell, but if we can get this price, we will sell” is the forerunner to disaster.  As soon as one of my team members hears that statement, the bottom line is delivered. 

The bottom line is that we are not in the business of collecting listings.  We are presenting the homeowner with a fair market value assessment, according to today’s real estate market.  Anything beyond that figure will hinder the sale. 

We do not list every property that we visit to give a presentation.  Just as Ginny Gorman described in her post today, it’s to our advantage to continue our marketing for new inventory that is priced properly and will sell in a reasonable period of time. 

A collection of overpriced listings is a precursor to the demise of a real estate team.  We continually monitor our inventory and price adjustments are made, as needed.  When the homeowner stops adjusting, we cancel the listing.  Collections of overpriced listings don’t make money.  

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Gary Berset, Realtor

RE/MAX Executive Realty

www.GaryBerset.com

gberset@verizon.net

Direct: 508-359-1038

Cell: 508-820-6622

 

 

Comments (2)

Shannon Jones
The Shannon Jones Team - Long Beach, CA
Long Beach CA Real Estate

Gary, this is so true. I'd rather have fewer, well-priced listings than tons of overpriced listings. It costs less to market, less time to manage and results in just as much income - and a better bottom-line. It also gives you great results when you compare your list-price-to-sales-price ratio and days on market to those agents who take lots of overpriced listings. When I know I'm competing with an agent who uses that strategy, I make a point of going over those statistics and suggesting that they ask other agents what theirs are.

Jul 01, 2011 04:49 AM
Gary Berset
RE/MAX Executive Realty, Medway, MA 02053 - Medway, MA

Shannon, points well taken... the list-price-to-sales-price ratio and DOM should help us to solidify the listing and more importantly, at the right price.

Jul 03, 2011 12:36 AM