"Another listing that doesn't sell!"

By
Real Estate Agent

In a recent post, I mentioned the "excitement" one agent expressed over the idea of a listing contest: "Just what I need, another listing that doesn't sell." 

Please, all of you agents who like to work primarily with buyers, this is not for you. 

If it's working for you, keep doing it.

But some agents -- like me -- prefer to split my work about 75% sellers and 24% buyers.

If you prefer being a listing agent, let me tell you this:  All those agents who LIKE working with buyers would just as soon you NOT start focusing on buyers rather than sellers.

But I do need to ask this question:  In this kind of market, just how do you plan to make a living?  As I was mulling this all over, it hit me: When the "buyer agents" out there put people in their car, drive 'em around to a bunch of houses, and they BUY one, do you think the house is one that is LISTED WITH A REALTOR or do you think it's a FSBO?

Chances are, it's a listed property.  So why isn't it yours?  The buyers ARE going to buy SOMETHING, and most likely it's going to be a property listed with a Realtor, right? 

Those listing agents who aren't excited about getting more listings are probably not pricing them right, making sure they show PERFECT and are easy to show, etc.  Their listings don't sell and they get discouraged from getting any more.  

If you want to be a listing agent in a buyer's market, you need to work smarter, not harder.  You need to be strong enough to tell sellers the truth about what it will take to sell and walk away from sellers who are not motivated enough to do what it takes.  

Recently, I let a listing go after I realized the sellers believed THEY are the real estate experts and did not act on my recommendations in a timely manner.  They missed opportunity after opportunity and I realized no matter what I said, they were going to do it their way.  

Those are the kinds of sellers to let go.  

Start hitting the phones, taking floor, whatever it is you do to prospect, and get sellers who ARE motivated to sell.  Then, screw up your courage to tell them exactly what it will take to get their home SOLD.  Your lisings will start selling and you'll be eager to get more.

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Rainer
15,250
Rod Rich
Atlanta Communities Real Estate - Atlanta, GA
Atlanta- Associate Broker
Most listing agents are weak and don't get the right price or terms. A well priced listing well sell in any market. Sign and a lock-box Lister's will get beaten up in a market like this.
Mar 31, 2008 08:58 AM #1
Rainer
15,250
Rod Rich
Atlanta Communities Real Estate - Atlanta, GA
Atlanta- Associate Broker
Most listing agents are weak and don't get the right price or terms. A well priced listing well sell in any market. Sign and a lock-box Lister's will get beaten up in a market like this.
Mar 31, 2008 08:59 AM #2
Rainmaker
192,907
Cynthia Grimes
eXp Realty, LLC - Westminster, MD
"With You Every Step Home!"
True so true!  If the price is right the house will sell don't be shy about getting that price reduction and getting the house sold!
Mar 31, 2008 08:59 AM #3
Rainer
62,465
Bart Whitmore
Keller Williams- Louisville - Louisville, KY
Real Estate Agent
Very nice post you can get almost any listing if it is grossly overpriced, but to get one with the price to sell it is more important---Bart
Mar 31, 2008 09:00 AM #4
Rainmaker
720,487
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
Good question!! I am a 50/50 agent with listings and sales. Most my clients list with me and buy another. I also pick up buyers from my listings. But if a home is not priced right, business stops. Listing agents still make money with listings properly priced. No overpriced listings is my new mantra and how I plan to stay in business in this changed market.
Mar 31, 2008 09:09 AM #5
Rainer
35,176
Brian Luce
HomeStarr Realty Inc. - New Hope, PA
Associate Broker

Good points.  I do mainly commercial now but for 8 years I did residential and I'd say appx 80% or more of my work was listings.  I felt that I could better manage my time and I've never had a problem interacting with Sellers.  I guess it's just personal preference but no matter what the market.  I'd still concentrate on listings.

 

I've heard great points of view from agents that do the majority of their work with buyers.  I guess it's just the niche you choose.  As long as you are good at. 

Mar 31, 2008 09:10 AM #6
Rainer
24,579
Rob Jacobs
Short sale pathways - Brooklyn, MI
Short Sale Specialist
There are trainers and coaches across the country that try to get you to buy in to their magical marketing program. Non of these are needed because their is one constant in real estate. If market value is what somebody is willing to pay for a home and real value is dictated by the nearest and best comparable adjusting for market and home conditions, then logic dictates that the only and right path for any listing agent is to have the best home for the fairest price! In other words price the home right regardless of the economy. a good listing agent will sell 80% or more of their listings. Location is the most important factor when buying but, price is the most important in selling.
Mar 31, 2008 02:59 PM #7
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Rainer
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Don Phelan

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