In checking the hotsheets yesterday morning (12-28-07) I found two listings that really stuck out to me. The first was blogged about here, the other was this:
I'm browsing the cancelled listings. I come across one in my town and try to decipher exactly why it may have been cancelled:
*It's listed by the number one agent in town- seemingly not a bad choice.
*It had a market time of just over 5 months- not great, but not totally unexpected in the current market.
*The price didn't drop a dollar on it during that time- definitely not good strategy for a property that's been on the market since July 23rd.
Here's the biggest kicker to me:
In the remarks section it reads: Hurry, still time to get in before school starts!
Really? Starts what? Back from the holiday break? Oh oh oh, I get it....you listed the property on the 23rd of July- thought someone might want to get in before mid-late August when the school year begins and then forgot it was there.
Is that why it was cancelled? Did the seller say to his/herself, "Self, my Realtor hasn't dropped my price to adjust to the market and is still touting my home as one that can be obtained before school starts. I think she's not REALLY working her absolute hardest for me! Think I'll fire her."
Now, it is entirely possiblethat this agent has attempted to rectify the pricing problem and HAS worked diligently to sell the property....but the inability to remove or restate a line in the listing remarks doesn't give clear indication that that is indeed the case.
I don't understand this logic. One of the first things I learned in this business is that the agent remarks section of the MLS listing is the single-best-form of free-advertising I'll get. Now, technically it isn't free since I owe dues and so-on but from an aspect of this is what every agent and each of his/her clients that are sent the listing will read....this is where I want to be uber-professional and get folks interested in what I'm marketing. Errors, omissions and being 5 months tardy on the description doesn't exactly add-up to busting my butt for my client.
It's a good idea, and something I routinely practice, to stay on top of your listings and how they read. If you have too many listings to do this- maybe you need to cut back to better serve your clients. If you don't have too many listings, find a good excuse- because most will find it to be plain laziness and will surely question what you're doing to earn your commission!