You're Hired As The Listing Agent | What Is Your Most Important Task?

By
Services for Real Estate Pros with RE/MAX Executive Realty 104763
https://activerain.com/droplet/5gVf

 

It’s all about the price, no matter how the “state of the market” is described.  In a sellers’ market, pricing is not as challenging. If a home is underpriced, there will be a bidding war, and whatever dollars could have been left on the table will be secured plus more!

 

 

A buyers’ market is quite another scenario. Since pricing is not an exact science, because of opinion, a listing agent should always establish the price range and then, with the seller,  decide which end of that range to offer the listing.

 

 

If the home is outside of the fair market value range, the sooner the “improved price” is established on the open market, the sooner the home will be pending.

 

 

Homeowners must be “in-tuned” with the current state of their market.  This may require an additional market analysis with every similar home that closes. 

 

 

For a listing agent to allow a home to linger on the market is poor representation of that homeowner client. The function of a listing agent is to “update the client” and “make adjustments that reflect the most current updates in price.”

 

 

After two weeks of “proper exposure” there should be sufficient activity at the home. If buyer agents are not writing offers, the home needs an adjustment. It’s overpriced. Every factor one could think of for an excuse for a buyer to not buy reverts back to price. 

 

 

Locational obsolescence, functional obsolescence, cosmetics and many other factors must all be reflected in the price.

 

 

In the business of listing property, it’s “ALL ABOUT THE PRICE.”

MLS is the most powerful marketing source in existence. Listing agents should be providing every document needed by a buyer’s agent to enable that agent to provide the “full picture” of the property and help his/her client make decisions to buy.

 

To provide anything less is poor seller representation.  Period.

Just a thought for the moment….but there is more coming today!!! I’m cranked.

Posted by

       

Barbara Todaro

Marketing Agent for The Todaro Team

308 W. Central St...suite E

Franklin, MA 02038

508-918-9148

Exclusive Marketing Agent for The Todaro Team

 

             Copyright © 2009 - 2019 Barbara Todaro

                               All Rights Reserved



 

close

Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Evelina Tsigelnitskaya 01/19/2019 06:19 PM
  2. Gabe Sanders 02/02/2019 11:00 PM
Topic:
Real Estate Sales and Marketing
Groups:
The Art Of Marketing You
Bartender, Make it a Double
Old Farts Club

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,171,651
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Barbara Todaro -  Congratulations on the well deserved feature!

I agree with positioning the property as the most important factor.  But the toughest part of our job can be when a client just won't see that their home is over-priced and they don't want to re-position it.  Some have a bottom line number that they don't tell us about and can't go below. ....very non-helpful.

Jan 19, 2019 07:30 AM #49
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Sheri Sperry - MCNE® then, you have a decision to take the listing or leave it for someone else to spend time and money on.... we MUST learn to say NO..... the team members have said NO....and were glad they did....

Jan 19, 2019 07:37 AM #50
Rainmaker
5,304,605
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Congratulations, Barbara, on your feature recognition.

Thanks for sharing your experience and your advice.

Jan 19, 2019 09:23 AM #51
Rainmaker
1,277,479
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

For the buyer, it's "Location, location, location," but for the seller, it's "Price, price, price." Well said!

Jan 19, 2019 09:39 AM #52
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

thanks for commenting, Roy Kelley 

Wayne and Jean Marie Zuhl and for the buyer and seller, location will be reflected in the price.... that's why various areas of the town will demand a greater price.... and a 'tough area" will be significantly less.....

Jan 19, 2019 11:21 AM #53
Ambassador
3,801,628
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

BarbaraT- well deserved feature!!! I would imagine that one of the hardest tasks that a listing agent has is getting the seller to understand that you are working for them and working to try to get them the best price you can based on current market conditions, location and the condition of the property. 

Jan 19, 2019 12:04 PM #54
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

every seller wants that last nickel...the problem is it's not an exact science.... the clean deal is worth money... all of this must be understood by the seller... Kathy Streib 

Jan 19, 2019 12:45 PM #55
Rainmaker
1,977,916
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Barbara Todaro - Congratulations on your featured post! Your advice is always noteworthy and something to consider. 

Have a nice weekend!

Jan 19, 2019 01:46 PM #56
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

thank you, Patricia..... hope you enjoy the games tomorrow....

Jan 19, 2019 02:38 PM #57
Rainmaker
110,914
Mike Schneider
10 YRS with Active Rain ! - Lake in the Hills, IL
ABR, CDPE, SFR

Thank You, 

My task is to interview the seller , as seller is interviewing me.

It's all about "M.E."  ..///on behalf of the seller, i measure their "M.E." indicator..

Its all about seller "Motivation and Education"  (M.E.)...

How soon they want to move out of "Dodge' and how much do they understand their local market trend.

I orchestrated a "SMA"  (Seller Motivation Analysis)...I can measure within the first 15 minutes, if the seller will team up and agree to our market strategies.. If we're priced correctly, there shouldnt be too much need to modify/adjust our price positioning...

Your points are terrific and I appreciate your sharing.

with appreciation and wish you continued success in 2019.

Mike

Jan 19, 2019 04:30 PM #58
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

isn't it a blessing to focus on listings??  wishing you well with what you do, Mike Schneider 

Jan 19, 2019 04:46 PM #59
Rainer
491,583
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Barbara,

Excellent advice, as always. When you get going, the hustle is on.

Jan 19, 2019 09:07 PM #60
Rainmaker
4,038,002
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Barbara, excellent post as usual, and pricing is critical and to know what the market can bear.

Jan 20, 2019 06:26 AM #61
Rainmaker
386,649
Matthew Klinowski, PA
Downing-Frye - Naples, FL
Golf Community Real Estate Specialist

Good morning Barbara Todaro - my goal is always to sell the home for maximum dollar as quickly as possible. Set an expectation with the seller if there are little or no showings there will be no offers and a price adjustment should be made relatively quickly or the listing will become stale. Have a good Sunday!

Jan 20, 2019 07:19 AM #62
Ambassador
1,913,124
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Great post Barbara Todaro , I agree with you 100%

Jan 20, 2019 09:11 AM #63
Rainmaker
1,520,806
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

There you go again, pointing out that agents are responsible for their own success - or failure.

Jan 20, 2019 02:34 PM #64
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

thanks, everyone, for your nice comments.... they're always appreciated....

Jan 20, 2019 03:02 PM #65
Rainmaker
501,027
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Catchy headline!  It does come down to price, although sellers often don't want to admit it, esp if the house has been for sale for several weeks. Buyers must walk in and agree with the value!

Jan 21, 2019 10:44 AM #66
Rainmaker
4,904,466
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Mary Hutchison, SRES, ABR it's all about the price.... if an agent is going to walk into an expired listing and take it at the same overpriced figure, that does not make sense....and the listing agent is not doing his/her job properly.... either price it within the right price range or see some light at the next stop (not the end of the tunnel) to drop the price or don't take the listing.... those are my thoughts....

Jan 21, 2019 10:47 AM #67
Rainmaker
3,209,764
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Marketing is not always what agents do...it is the routine sign in the yard and listing on MLS and that's it....and it shows !

Feb 03, 2019 04:12 AM #68
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
4,904,466

Barbara Todaro

Marketing Agent for The Todaro Team
Ask Barbara Todaro a question...
*
*
*
*
Spam prevention