I get a lot of repeat business. I think it has something to do with trust.
When I took a recent listing, I was angry.
The house I was listing was one I had sold to the current owner years earlier. He had moved out of state and no longer wished to maintain the house. I knew the property and the neighborhood. When it came time to list, I visited the house to evaluate the condition and surmise what had changed in the neighborhood in the last few years.
I had a pretty good idea of the value and how I planned to market the property. Of course, I took the time to review the comparative homes in the area.
I even contacted another agent in my office who had a comparable property under contract just a few blocks away. I wanted to understand how her transaction was progressing and any pitfalls or problems with buyers, the HOA, or the appraiser. Her experience with her transaction reinforced my marketing plan.
So, why would I be angry you might ask?
On my pre-listing visit, I was shocked to see another comparable house on the other end of the cul-de-sac was also coming on the market. The agent was about to list the home for a lot less than the house I was about to list.
At first, I was dejected. This other listing would be going active at the same time as mine. The low price would surely affect my comps.
Except the agent who listed the other home did nothing. They discounted their commission but also discounted their service. No marketing, no pictures, no staging, no glowing write-up, only a one-line description in the MLS, at a discount price.
Concerned but undaunted, I put up my “Coming Soon” sign and went forward. I had done my homework and was confident about the value I added.
As expected, the next few days were a flurry of activity and within days I had multiple offers. Several were sight-unseen investor offers well below market value. The seller dismissed those immediately. But we also received several solid offers including one for over asking price. Choosing the one we believed had the best chance to close on time, and net the most money, we accepted the highest and best.
The property went through its standard inspections and appraisal period and closed early with both a happy seller and buyer.
What happened to the other property?
Upon seeing the listing price of my listing, the other agent raised her listing price to bring it more in line with the market. But still no pictures, no signs, no open house, no nothing. Since then, it has fallen out of escrow twice and is back on the market over 60 days.
I’m not angry anymore. Only, sorry for the seller of the other home. The agent took the listing but forgot the most important part.
She forgot to sell the house.
Joe Domino is a Realtor® serving the Phoenix/Scottsdale area. Need more information? Or to Search for your next home, visit www.Scottsdale-AZHomes.com
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