8 Things Sellers Should Expect from You as Their Listing Agent, Plus 1

Reblogger Tony and Suzanne Marriott, Associate Brokers
Real Estate Agent with Haven Express @ Keller Williams Arizona Realty BR534744000 & BR540649000

Jeff Dowler "Sellers might not like it, but they deserve to know the truth about the market, their house, the value of their property, the condition, and related matters. They expect results, not promises to get a price that is not realistic or is just a way of snaring the listing."

Right on target - and - re-blog!

Original content by Jeff Dowler, CRS CA DRE #01490977

What Sellers Should Expect from You

as Their Listing Agent, Plus 1

 

While we may not always know all the expectations sellers may have – and there’s something to have a conversation about if they don’t share their expectations with you - there are some things that sellers deserve.

 

Shaking hands

 

Representation:

You are being hired to represent the homeowner and to act with “a fiduciary duty of utmost care, integrity, honesty and loyalty in dealings with the Seller” (from the California Agency document – yours might be different). Sound simple? Perhaps in theory but sometimes in practice it might not be, but don’t forget where your loyalty lies. And your interests? They should never come before those of the seller.

 

Reliable & Accurate Information about the Local Housing Market:

Sellers may think they know all about the local market conditions and what this means, but they don’t. We should, of course, provide detailed, reliable, and accurate information about the market as well as explain what this means for their situation so they understand the impact on potential time on the market, pricing, competition, and so on.

 

They may have read certain things about what is happening in the market but likely won’t understand the implications for their list price and the market’s possible reaction. And of course seller expectations about price gleaned from their own research, Zillow, neighbors, or well-meaning friends need to be confronted and addressed since they are commonly way off base.

 

reading market information online

 

The Truth, not Only What They Want or Hope to Hear:

Sellers might not like it, but they deserve to know the truth about the market, their house, the value of their property, the condition, and related matters. They expect results, not promises to get a price that is not realistic or is just a way of snaring the listing. And they may need honest guidance on how to best prepare the home for the market, or perhaps a staging consultation from another professional. And once the listing is live and there are no offers or feedback is not favorable, sellers may need a reality check.

 

This all goes hand in hand with representation and performing your role appropriately. It’s not always easy, since some sellers just don’t want to hear the truth, or believe it. That may impact a decision you have to make about the listing and the relationship.

 

Marketing Plan:

There are many strategies to marketing a property successfully and a reasonable expectation of a seller is to understand, in a detailed manner, what you are going to do to accomplish the goal of selling the home at the best price and in the shortest time.

 

Photos and Videos:

The bulk of home buyers are looking online at listing and their expectation is plenty of photos, inside and out. Our job is to deliver that. Top quality photos are essential these days to showcase your home and its best features, and attract the attention of buyers so they want to come see your home. If you include videos, they should, of course, be well done, too. We all know we are marketing a lifestyle, including the neighborhood, not just the seller’s house and they should be aware of all that we are doing on their behalf.

 

Communication:

It goes without saying that clear, honest and regular communication with the seller is essential. No doubt the seller has preferences about the form of communication they prefer…text, phone, voice mail, snail mail, email, skype/Facetime…just as you do and it makes sense to have a discussion around this. Lack of communication is one of the biggest complaints sellers have about listing agents and you certainly don’t want to be “one of those” agents they talk about at the dinner table or with friends as they bemoan the fact they hired you or wonder why they never hear from you!

 

Enthusiasm and Interest:

I imagine most sellers want to feel their listing is truly interested in their needs and goals, is listening carefully to them, and is excited about marketing their house.  If you come across as a ho hum agent they might interpret that to also mean ho hum marketing and lack of real interest in helping them. Thanks but we’re not interested might be their response.

 

Negotiating the Best Offer:

We all know it’s NOT just about price but terms and conditions as well; sellers may not realize that. First of all they need guidance on what to consider when evaluating an offer, with perhaps even more assistance if there are multiple offers. What should they do when the first offer comes in when they are not happy about it? Should they counter or not? Of course all this is ultimately their decision but some discussion so they understand their options, and the implications of different decisions, is in order.

 

Some negotiations may be fairly simple while others can be complicated and lengthy. The end goal is to find a win-win situation; we can hopefully help sellers not get bogged down in minuscule issues that can derail the process, keep focused on the larger goal, avoid emotional decisions if possible, and to decide when it might be time to say no.

 

And as a bonus, throughout the process there is the customer service – how we do things, when, anticipating issues, taking care of the little things, and more. Is YOUR service Gaspworthy?

 

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Rainmaker
3,268,403
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Those are certainly key elements to a successful practice for a listing agent.

Aug 26, 2016 10:17 PM #1
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Agreed Sally K. & David L. Hanson - thanks for stopping by with a comment!

Aug 26, 2016 10:25 PM #2
Rainmaker
553,233
Gwen Fowler-CRS- 864-638-3599 SC Mountains & Lakes--
Gwen Fowler Real Estate, Inc - Salem, SC
Gwen Fowler Real Estate, Inc.

You need to do all of these.  If one is missing the whole system is shot.  A building foundation to a good relationship with the seller.

Aug 26, 2016 11:45 PM #3
Rainmaker
1,549,275
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Tony and Suzanne Marriott, Associate Brokers Great choice of re-posts, but I almost became fatigued in my search filtering through all the stupid Market Reports from California.

Aug 27, 2016 04:53 AM #4
Rainmaker
2,945,199
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Tony & Suzanne.  I salute you as it looks like we are following the same people...   What's that they say great minds???  I forget the rest....

Aug 27, 2016 08:33 PM #5
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

It is a package Gwen Fowler- 864-638-3599 SC Mountains & Lakes-- - thanks for stopping by with a comment!

Aug 27, 2016 10:16 PM #6
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Thanks Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 - I feel your pain and - thanks for stopping by with a comment!

Aug 27, 2016 10:16 PM #7
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

ROFL James Dray  - thanks for stopping by with a comment!

Aug 27, 2016 10:17 PM #8
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Serving Scottsdale, Phoenix and Maricopa County AZ
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