We interview for our jobs almost daily

By
Real Estate Agent with Jameson Sotheby's International Realty

We interview for our jobs almost daily, in this business.

I was interviewing for my job this week, with a potential seller.  I had sold them the property about a dozen years ago, so I already had a good rapport with them, and had stayed in touch... at least enough that they called me when they were ready to list.

They told me that I was competing for the listing.... they were interviewing at least one other agent.  Probably a good idea, in my opinion, but... "damn the other agent to heck".

When I went back with my CMA, and we went through the whole dog and pony show I asked if they'd already met with the other agents. They confessed they'd only met with one other agent, and that he was a discount agent... so they were excited about the prospect of getting a rebate from the sale... and he was going to charge them a lower listing fee than I'd quoted.

"damning him to heck, silently in my head, again".

I asked what price point the other agent had recommended... and he was very forthright with me and told me that we were almost $100,000 apart.  "Really?!" I asked "He's recommending $100K more than my suggested listing price?... I'm very careful, I use very local, very recent comps to build your price."

"No" he told me "he's $100K below your recommendation."

Well... now I know why he's discounting his prices and rebating commission... he doesn't know and doesn't understand our local market.

I told the client that I was VERY comfortable listing his property at the bottom of my price range, which was still $55,000 higher than the other agent's high range.  And at that price, I truly believe we'll end up in a multiple offer situation.

Now, of course, it comes out that the other agent is new, and not local.  He's a friend. damnit to heck!

Posted by

 ALAN MAY, Realtor®   
Specializing in Evanston Real Estate and North Shore Real Estate

Jameson Sotheby's International Realty, 2934 Central Street, Evanston, IL 60201
Office: 847.869.7300      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

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Rainmaker
1,065,067
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Went on to an interview the owners complained that the top agents charge 1% for a couple days of work. They said they are also interviewing 0.9, 0.8% commission and if I can beat their price with free staging included.  I thanked them and left quickly. 

Feb 08, 2020 11:31 AM #1
Rainmaker
3,819,910
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon Alan. This story makes me crazy. Too bad that they don't get ity and will probably lose a lot of money. Perhaps they were just working you for their friend. I am so sorry. Sometimes you can do everything right and it just doesn't matter.

Feb 08, 2020 01:39 PM #2
Rainer
193,641
Don Baker
Lane Realty - Eatonton, GA

so did you get the listing or are they going to lose money because he's a friend.

Feb 08, 2020 02:22 PM #3
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4,104,175
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Alan- those darn friends and darn discounts...they seem to blind sellers when it comes to making a reasonable and prudent decision. Can't wait to find out what happens. 

Feb 08, 2020 06:06 PM #4
Ambassador
1,703,875
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Friends and relatives can be the ban of a listing agent. With the value of their home I hope they use critical thinking to realize it is the net you get t=not the4 commission you charge, and a sale without hiccups.

Feb 08, 2020 07:05 PM #5
Rainmaker
5,273,557
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Alan May the facts always come out at some point.... and that's a huge spread in proposed list price....we interview with every listing presentation... a wise seller would hire you with every presentation....let's hope this one is smart enough to know the difference.

Feb 09, 2020 03:28 AM #6
Rainmaker
789,265
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Damn is right! Damn damn and damn!

The truth is out, though.

That 'damned agent' may need to read the COE, you know, the part of misleading a seller about their value? 

I wonder if 'clueless' is an excuse.

Feb 09, 2020 05:00 AM #7
Rainmaker
2,148,470
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Alan May - You have your work cut out for you! Good luck! We have the same challenges here too. 

I love your blog post!!!

Feb 16, 2020 05:03 AM #8
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