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I Want to Sell Homes Not List Them

By
Real Estate Broker/Owner with Franklin Homes Realty LLC

Mr. Seller I would love to list your home. As a matter of fact, I've been wanting a listing in your neighborhood for quite some time.

I know your previous agent had the home listed $50,000 more than the price I suggested but you already told me you weren't getting showings. There have been 3 homes that have closed in the last few weeks with similar amenities and square footage.  You are insisting that I take the listing at your price but we already know it won't sell there. I want to sell homes not list them.

You say your previous agent told you to back into your listing price by adding your projected expenses and profit on top of what you owe and that's where you need to price the house. I'm sorry your previous agent is wrong. That is not the way to price a home.

You have to look at the most  recent sales, current listings and expireds to determine where to price.

sales pricesYou ask if condition matters? Yes, it does but there is nothing extraordinary about your home that would warrant the price you suggested. The opposite is true.

You have a 3 bedroom, 2.5 bath home that is surrounded by 4 bedroom, 3.5 bath homes. Your three bedroom floorplan is undesirable in this neightborhood. 

How do I know? Because the same model two blocks away has been on the market over a year and still hasn't sold. And he's priced $24,000 below your suggested price.

The comparable sales tell me in order to sell your home we need to drastically reduce the price. You say you can't do that. Then I'm sorry, I'm not the agent for you.

Now, you're upset because I won't take your listing. You've never heard of such a thing. Well, you see I want to sell homes not list them. Sometimes that means I have to turn away a seller. I want to be honest with my sellers. That's how I get referral business.

You've already bad-mouthed your previous agent to me. You've already said he didn't do a good job marketing your home. Some of what you say may be true because I see he's only sold two of his listings in a 6-month period but 15 listings have expired. Why? Because he listed at prices higher than the comparables suggested. He must be more interested in listing homes than selling them. I don't just want to list homes, I want to sell them.

The comps suggest you are over-priced. But I know you'll find another agent because lots of agents are more interested in listing homes than selling them.

I want to sell homes not list them.

If you are ready to sell your Franklin TN home, contact Tammie White at (615) 495-0752 today.

Posted by
Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.

Comments(42)

Bobbie Smith
Stroudsburg, PA
570-242-1891

Excellent post Tammie. So true, So true! You have said what needs to be said in a great way!

Jan 18, 2014 11:30 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Tammie,

I caught this post on Bobbie's re-blog. Sorry I missed it. You are right on target..the way to determine a listing price is to analyze the comparable sold properties at the time you want to list. One year it could be one price another year it could be different. The value is always determined as to what are the recent comparable sales. Excellent post!

Jan 19, 2014 12:09 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Kinda, sorta does not work if that is the luke warm attitude, no fire in your belly passion to list, market, sell (repeat).

Jan 19, 2014 12:21 AM
Jean Hedren
Gordon, WI
Northwest Wisconsin

Tammie, it's often a challenge to educate sellers on where the price needs to be, not what they need or want to make. Better to turn down an overpriced listing.

Jan 19, 2014 12:40 AM
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Great blog Tammie! I agree with you 100%. Think of listing properties as two separate strategies. Most properties you list to sell. But sometimes, you list a home to list it. In the latter situation, it brings a lot of new marketing and promotional business development benefits - an entirely different marketing strategy not related to selling it.

Jan 19, 2014 12:41 AM
Monica Hill
RE/Max Associates - Wilmington, DE
the REALTOR to help you discover Delaware

Tammie, Great post and I love how you make that simple, yet crucial, distinction. I like to sell homes, not just list homes, too. 

Jan 19, 2014 03:34 AM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Tammie, it is a good distinction you've made here. Are agents in the business to list homes or to sell them? I have walked away from "listings" because I knew I wouldn't be able to sell them under seller's demands. 

Jan 19, 2014 04:03 AM
Jill Winchel
Royal Shell Real Estate - The Koffman Group - Cape Coral, FL
We make it easy. You make it home.

Great post, Tammie. You are asking the sellers if they want to list for the sake of listing or sell because they want to move. Everyone is not going to make a profit on their sale, depending on when they bought. If that's their only motivation to sell then maybe they shouldn't list right now...no point in wasting your time.

Jan 19, 2014 04:10 AM
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Tammie, congratulations on your featured and what a great post!  I agree with you that I hear agents in my office just care about how many listings they have, not what has sold.  They brag about the listing price and two months later, reduced it dramatically!

Jan 19, 2014 04:42 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Karen - My sentiments exactly.

Kaye - I'm glad you think so.

Ronald - Especially when they agree to over-price it.

Michael - I sure hope not.

Roger - I'm not sure I'll be able to reprise my performance of last year.

Barbara - Very good point.

Debbie - That's what I would advise. If you can't get what you need, don't sell.

Jared - Right back at ya.

Sheila - You are always so complimentary with your praise.

Lenn - It should cause a seller to think but often they'll just go to the next agent.

Cheryl - No kidding.

Michael - I realize that but if I took a listing that I knew wouldn't sell, eventually that seller would be bad-mouthing me. Who needs that?

Ginny - If I could only get sellers to recognize that.

Debbie - Agreed.

Corinne - I pass on more listings than I take. If a seller doesn't want to take my professional advice, I move on.

Ed - There are brokerages that actually have agents take into consideration how many listings will expire and not sell when determining how many listings to take.

Scott - I've given up on the expired list. These sellers have worked with so many agents who take their over-priced listing they are unwilling to believe it can't actually sell at that price.

Dan - Those are pretty big numbers.

Joan - I'd rather take a $200K house that would sell, than a $600K house that will not.

Joe - I actually view this as an ethics violation but agents aren't going to report every agent who over-prices a listing and these offenders know it.

Richie - You are too funny.

Bobbie - If we could only get more agents to say it, we wouldn't have over-priced listings.

Dorie - This is so true.

Andrew - What you said.

Jean - I try to educate sellers before their home goes on the market. For example, I mentioned a listing this morning that's on the market in a friend's neighborhood. I made it clear right away that it was over-priced and wouldn't sell.

Richard - I don't use your second strategy at all. That would be using the seller for my own gain and I'm not going to do that.

Monica - We would get along great.

Pamela - I don't hesitate to walk away. It's a good business decision for me.

Jill - There have been occasions when I've advised a seller to stay put until the market changes.

Karen - I'm watching a few listings right now that I think will expire.

Jan 19, 2014 05:17 AM
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Tammy,  I refuse to take an overpriced listing and gladly pass when the owner refuses to liste

Jan 19, 2014 05:19 AM
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Tammy great point wonderful post. Mike I agree why take an over priced property ? Really how does that work list to high and no one is happy when the appraisal says what we said all along.

Jan 19, 2014 05:50 AM
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

It's just like in that old song by Kenny Rogers, "The Gambler". You gotta know when to hold 'em, know when to fold 'em. Know when to walk away. Know when to run. 

It's best to run from situations like these.  :)

Jan 19, 2014 07:33 AM
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

WOW, adding up what you owe and the cost to sell ='s price. Interesting concept, but not a real world one!

Jan 19, 2014 07:39 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Mike - I'm the one who decides, not them.

Laura - I explain that to sellers. They don't think I know what I'm talking about.

Jason - That is going to be my new favorite song.

Shannon - Unbelieveable, right?

Jan 19, 2014 08:33 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

WOW! Tammie, I am loving this post. I have lost listings too because I refused to sell at the seller's suggested prices. It's better to Sell than to List any day. It can be costly and expensive just to list anyway.

Jan 19, 2014 10:45 AM
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

Perfect Tammie,

I too had to turn down 2 this week as they would not listen and I am not into decorating the yard with a sign that never sells.

Jan 19, 2014 11:38 AM
Fred Cope
Reliant Realty in Nashville, TN - Nashville, TN
Looking For Homes With A Smile

Tammie, Now let me get this straight--You want to sell homes not list them. Right?

Think about all the time you could be "explaining why their one-of-kind home" hasn't sold.  You could be such a comfort to them...oh well, you may as well "sell houses" and let someone else "list them."  Hey, but you learned a new way to arrive at asking price, though it won't help your sales.

Do you mind if I do it your way?

Jan 19, 2014 12:03 PM
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Tammie~ Very well written post. I want to SELL homes too, and you would think that a seller would want an agent who wants to SELL homes!

Jan 20, 2014 02:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Tammie... a great topic to write about! This is a key point in my listing presentation--that I'm there to help them sell their home and not just to list it. Most homeowners don't understand the distinction. But they do when I'm finished with them!

Jan 20, 2014 07:55 PM