Thursday, October 11, 2007

To list...or not to list..that is the question!

My question is do you list at an unrealistic price. Sellers should determine if they want to own their home or sell their home.
There are plenty of Realtors® that just take the listing because they need inventory and do not care that they are just adding fule to this already out of control fire.
I do not know how many appointments I have recently been on regarding listings that want to hire another realtor because they just cannot figure out why their home is not getting offers after 6 months of only maybe 12 showings in that period.
So.... on one appointment I went on recently, I came across one of what I call "Those Retreads".
I am firing my current Realtor® and want to interview you and 3 others to find out what you will do different than them to sell my house.

First thing I needed to find out was what went wrong and what is their view and their objective and motivation.
So I was told they hired a customer intheir industry and they were told by that Realtor® that we have a list a mile long of qualified buyers looking to buy your home, well they claimed to have seen this list but they all of a sudden it disappeared after they listed with them "I wonder what training class they took?" do we think maybe the same one everyone is taught just to get the listing? The second thing was I asked them why they were reduced 3 times and where did they come up with the price in the first place, finally came the best part, they were only offering X% to buyers agents.

So my plan was to be honest and told them that even though they claimed to have had the best lake view and the best pool in the neighborhood, the problem was the house was in dire need of interior paint, the house was filthy and needed to be cleaned properly ,the price was about XK too high and of course the commission was too low, they wouldn't budge, so I told them at x% they were not helping matters, so i offered to take 2 and offer x-x% to the outside agent just to get it sold, they felt 4% was enough and they would not budge on the price, so i told them to call me when they felt they were more motivated and I would be willing to pay at least x% considering agents are now getting x-x% and that there market was flooded with plenty of they same.

I didn't get that one....but funny as it may seems, after they refused to paint, reduce to a realistic price and that they didn't need to sell and they could carry it as long as need be and of course the commission was too high, they ended up taking my advice and listed it for exactly what I said it should be and they even offered out 3% to the selling agent, even though I didn't get it, the husband was a jerk and it probably will sell but I am kind of glad I didn't give into their story, even though they were just full of it anyway, so my conscience is clear and it was time just to move onto someone serious enough to sell at realistic goals.
Believe me... I buy property and I am the first to want to sell high and get as much from the sale, but in this market the 25% returns are a thing of the least for now we will see many expired.
Sellers end up just taking them off the market totally until the prices rise or the market changes, well unfortunately I think it might be quiet some time before we see what we saw for the last 4 yrs again.
So when you list I think we really need to see how desperate we are to take them, the question it better to have 30 that do not sell and you waste all the advertising costs to let them expire and not list with you... or have 10 somewhat quality ones that will sell and we do not lose our shirts just for the ego trip of saying you have 30,but not telling your co-workers they all expire or hope they do not!

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