Are You Listening to Your Sales Gut?

By
Real Estate Agent with Dirt Road Real Estate SA676002000

Each morning I review our local MLS. This morning I noticed a new listing in our MLS that I had previously turned down. The reason was my sales gut along with my emotional intelligence told me this may not end up being a positive transaction and may possibly harm the brokerage firm as well as my own credibility.

 

I knew the following:

 

  • The seller was going to be more demanding than most
  • The seller was unrealistic in his asking price given current market values
  • The seller believed some features had appraised value
  • The seller was quite active on social media
  • The seller believed he had a little Taj Mahal

 

Fortunately, this property was occupied by a tenant. Listing occupied homes is one thing; tenant occupied properties are another.

 

Years ago, one of my coaches shared this nugget of wisdom:

 

“Given enough information,

your intuitive sense is usually right.”

 

Your intuitive sense is your “gut” brain. Once I read a definition of a brain that being a processing center. We have other processing centers including:

 

  • Head brain
  • Heart brain
  • Spine brain

 

How often do we ignore our sales gut? We intellectually override all those warning signs. Possibly we think the seller or the buyer will realize his or her expectations are unrealistic. We may also not may not pay attention to the emotional intelligence of the seller or buyer.

 

With over 5 decades of selling experience, I have listened to my gut and now listen for emotional intelligence. I will undertake the necessary research to confirm my gut, my intuitive sense. In real estate, this means doing market comparables before taking any listing as well as writing any offer.

 

Yes, this does take time up front. However, at the end of the day, this is time well invested because working with difficult clients can drain much of your marketing and selling productivity. In a busy real estate market and even a slow one, every wasted moment of productivity is one moment too many.

 

Graphics Courtesy of Pixabay

 

 

Posted by

Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
Connect with me on LinkedIn:
http://www.linkedin.com/in/leannehoaglandsmith

Comments (14)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hello Leanne... I'm all about listening to my gut... have been all of my life. And if I've learned anything in this profession it's to listen to my gut and to walk away from potential business be it with buyers or sellers if it somehow doesn't "feel right." The few times I didn't trust my first instinct I lived to regret it.

Jul 27, 2020 08:40 AM
Leanne Smith

Regret is a good teacher. Appreciate your sharing Nina Hollander 

Jul 28, 2020 06:33 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Leanne,  I agree, listening to my gut sometimes is so important.  If it does not feel right, I past

 

Jul 27, 2020 09:36 AM
Leanne Smith

Good morning to you Will Hamm and glad to read you listen to your gut as well.

Jul 28, 2020 06:32 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Leanne - whether it is sales or something(anything) else, that gut instinct comes in handy.  It can be quite effective when used in conjunction with other implements in the inventory of  our toolbox.  

Jul 27, 2020 09:50 AM
Leanne Smith

Isn't it amazing how our "gut" works with other implements our tool box Michael Jacobs?

Jul 28, 2020 06:32 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Leanne Smith - that is intuition based on facts and experience.  Well thought out gut reaction.

Jul 27, 2020 01:26 PM
Leanne Smith

Very true Grant Schneider 

Jul 28, 2020 06:31 AM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Some prospective clients simply don't fit your client profile so, it's understandable for all the reasons you listed and perhaps more that it's best for your business and also your prospect. Another opportunity will arise, so, next.

Jul 27, 2020 07:25 PM
Leanne Smith

Being selective and positive is a good "sales attitude," isn't it Kimo Jarrett 

Jul 28, 2020 06:31 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Every time I've failed to listn I've lived to regret it. Sometimes I turn something down and think it might have been foolish, but then I brush it off and forget about it. I know my gut is seldom wrong.

Jul 27, 2020 09:01 PM
Leanne Smith

Thanks Marte Cliff  for sharing your experience. My sense is the older we become the stronger our "gut" becomes.

Jul 28, 2020 06:30 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I always listen to my inner voice... and let's face it when we are selling three or four listings during the pandemic and have another 18 listings we can be choosy but when there are few and far in between of both we tend to get soft and we regret it later, Endre

Jul 27, 2020 10:07 PM
Leanne Smith

Yes Endre Barath, Jr.  desperation sometimes overcomes our inner voice

Jul 28, 2020 06:29 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I'm sure you will watch that listing...to see what happens!  I had a potential client like that...just knew it was going to be a big problem listing so glad it didn't work out

Jul 28, 2020 10:06 AM
Leanne Smith

Yes Mary Hutchison, SRES, ABR  I will be watching. If the seller secures his asking price, more power to him. I agree when you "know" something it is better to listen to that "knowing."

Jul 29, 2020 06:45 AM
Eileen Burns
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FLorida Real Estate Connector

Learning to let go fast serves us well.  It allows another door to open the match that fits our listing and selling profession. 

Jul 29, 2020 06:30 AM
Leanne Smith

So true Eileen Burns about letting go or as my father always said "water off a duck's back."

Jul 29, 2020 06:45 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Leanne,

I always listen to my inner voice as does Ron.  We often compare notes, and follow whoever has the strongest feeling.  A

Jul 29, 2020 11:39 AM
Leanne Smith

Good to read listening to your inner voice is part of who you are as well as Ron.  Thanks for sharing, Ron and Alexandra Seigel 

Jul 30, 2020 06:29 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Aug 05, 2020 01:49 AM
Leanne Smith

Thank you Richard Weeks and may you make it a great week!

Aug 06, 2020 05:56 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I have walked away from several unrealistic sellers . Usually a newer agent gets the listing ( and headaches) and eventually Expires 

Nov 08, 2020 11:15 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

Unrealistic expectations are indeed present with many sellers and buyers. This particular listing has been reduced several time and is still on the market over 100 days later.  Thank you Michael J. Perry for sharing your experience.

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