Listing 101: The 3 BIG Mistakes That Cost Me
Early in my career, I made some mistakes with listings that taught more than any coaching or mentor ever could, actual life experience. New to the industry, not knowing what to expect and wanting the business so badly that I sometimes remained quiet. Hoping for the best. To my detriment. The result? Wasted time, lost money and listings that went nowhere.
Here’s 3 examples of my early experiences:
Early in my career, a couple played me perfectly. They wanted a 30-day listing and promised I’d be their lifelong agent for multiple future deals and got me to slash my commission. Yes, I was a hungry newbie! The home was overpriced by at least $75K. I poured time and money into open houses while they remained in the house, chatting up every visitor. They rejected a fair offer. I refused to renew the contract. Avoid selling yourself short, never take on a 30-day listing or allow wishful thinking to replace market reality.
One home seller was dead set on top-dollar pricing but completely oblivious to the following problems: Mystery stains on threadbare carpets, dings and gouges in walls, grimy, unkempt, circa mid 90's appliances. I remained quiet. Went with his price. Big mistake. I should have relayed that people could turn away once inside, based on condition, that he should fix the cosmetic issues, replace appliances or price it as-is. It ended up expiring. Sellers may not like it up front but straight talk beats silence, every single time.
Some sellers will badmouth agents. It's very telling how they speak about fellow professionals at the listing appointment. They might also interview new agents while still under contract, waste your marketing dollars and attempt to trash your reputation when things don’t go their way. I admit to ignoring the flashing red, neon lights warning, “Don’t take the listing!” I sincerely thought they wouldn’t do that to me. Surprise!!! Your time, energy and resources belong with people who value the work and it’s okay to say no.
At the end of every listing appointment, I always ask, “Do you have any questions or concerns about working with me?” Their answer tells me everything I need to know, then I can decide to take the listing if offered or respectfully decline. Getting a home sold is the goal but only with realistic expectations and mutual respect.
Have any early listing experiences you'd like to share?
Pictures by Chatgpt
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