When to turn down a listing.

Services for Real Estate Pros with Virtual Access Tours Monmouth and Ocean County NJ


I was reading an article in Realtor magazine a few months back, the title was something like "keeping afloat in a declining market". The author suggested that in a declined market that you need to be very choosy of the listings you take on or better yet what kind of sellers.  A few of the questions they suggested to ask : 1.) Are they able  to reduce the price if needed. 2.)Are they motivated to move and not just wait it out. 3.)How marketable is the house against all the other inventory,  4.)Is the home a white elephant or a gem. are the sellers willing to invest to fix up the home so it is marketable. They suggested that you only take the marketable gem's with sellers willing an able to do what it takes to move the home. Keep your listing inventory light and move on to the next gem.

What do you think about this ? Is this unrealistic? Can you become a Realtor that only works with high-end listings or easy to market listings? Are you already following the advice of the author and are successful ?

I wonder if this can be done and if you think its good advice.

In my line of work it gets very frustrating to deal with Realtors who worry about the cost of a virtual tour when they stand to make at minimum 5000 in commission. I'd like to work exclusively with those who understand the value of a professional virtual tour photographer and do not have a problem investing a very small fee for a very large commission.  My wish for the day!

Is this your frustration with sellers too?

Inquiring minds want to know

Have a nice day!


Comments (4)

Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO
Makes sense Cathy.  Unfortunately, I am in a somewhat rural area and there are no stagers within 50 miles, that I know of.  What kind of prices could I anticipate if I were to use you?
Apr 24, 2008 08:02 AM
Kaye Phillips
Coldwell Banker High Country, Murphy NC - Murphy, NC
#1 agent choice in Murphy NC
I begin my listing interviews explaining to the Sellers that in a "down" market it is more important than ever for the Sellers' and their chosen agent to be a great team, as it will take work from all concerned to sell their property. I give them the facts as to what our market is like and then explain all parties need to make sure each is ready to commit to whatever it takes to market their home. In addition to the listing contract (if indeed we decide we will make a good team) I draw up a marketing plan that we ALL sign.  That plan includes what I expect of the Seller's as well as their expectations for me. I have found that it works well and often catches the Seller by surprise when they learn I am interviewing them as well as the other way around.  As far as getting them to invest in a virtual tour, I explain how many leads I get specifically for individual homes straight from the Virtual Tours of my listings versus other sources and the Seller usually decides it's in their best interest.  I offer a deal where I offer to pay for a home warranty on their listing if they will pay for the virtual tour. The home warranty is more expensive but it is offered through my company and I don't have to pay for it unless the home sells, and then at closing.  It makes me look professional but gets the Seller to invest in their own marketing as well.  Good luck
Apr 24, 2008 08:04 AM
Barry Bridges
Barry Bridges Weichert Realtors Bridges & Co. - Smith Mountain Lake, VA
Lake professional
I agree with the article. Why take a listing just to take a listing? All the risk is with the REALTOR. Why take a listing that is not going to sell. Don't get to frustrated with the REALTOR he is the only one that may not get paid. Would you make a deal with the agents you want to work with that they don't have to pay you untill the home sells, and they don't have to pay if it dosen't? We pay all our bills even if the home does not sell. I am glad they worry about cost. They are running a business also. I guess what I am saying is we get frustrated when all our suppliers are raising their prices and the sellers want to lower ours. Oh did I mention gas at $3.50 a gallon? 
Apr 24, 2008 08:16 AM
Cathy Williams
Virtual Access Tours Monmouth and Ocean County NJ - Freehold, NJ


I was very impressed with your post, I admire how you take charge and are i control of your business. Bravo!

Hey Barry,

Nice hearing from you. If you know of marketing services that allow you to only pay if your listing sells, then let me know as I would like to use the new paper, printer and sign maker that lets you pay only if you sell the home! But joking aside. Virtual tours can be used to save gas, instead of driving from home to home and having the client not be interested, from your office or their home you can pre-qualify what homes they would like by using virtual tours that are posted with the listing. 

Apr 25, 2008 09:19 AM