Vacations are over. The Christmas' hectic lifestyle is closing down and we are all settling in for a new work year. As I reflect on past accomplishments and mistakes, I must admit I made the same GLARING mistake 3 times last year. The consequences were insulting, but expected. Now here is the CONFESSION: I lost listings 3 times to other Realtors, as they expired. I tell you that, just to tell THIS: The truth is that sellers want one thing in a marketing plan, to SELL their house! Apparently, I am not alone in this situation. January 4, 2012, the Norman mls (aka amlsok.com) reported 74 NEW listings. The previous 5 days, less than 20 homes came on the market. I realize this is not a scientific poll but I do claim a little common sense. Many people expire out listings on December 31 and relist Jan. 1. (mawh included). I did not evaluate but I would guess at least 50% of the "new" listings were relists. Hopefully, most were retained.
So, since we all have a marketing plan, let's talk truth cause somebody has to, and here I go again with run-on sentences(did I mention I used to teach English?). When you list a property, do you "promise" to- do broker's open (after all food is the way to a broker--too bad brokers are not buying)
- set on open houses (this will always get it sold)
- make flyers(uses time that makes you feel "accomplished)
- post it in 100 places on line (here's something only you will do)
- make electronic flyers (cool)
- mail to top 100 agents (they care a lot)
- invite other broker's buyers to your open (that will will make you popular!)
- EMAIL brokers repeatedly reminding them of your mls listing number (my personal favorite:))
- use ALL technology available to market a home (here is a catch all)
- be honest
Don't tell the seller what you think he wants to hear. Tell him the truth. Three times last year, I went to listing appointments and let the sellers talk me "up" on their prices. Mistake. I should have held strong to my belief and stayed with a value where I could see the house selling. Now, MESS! Sellers have relisted house, with another agent, at the price I suggested. Really?
Whose fault is it that my marketing plan failed? I take full responsibility and resolve not to let this happen again. I am no longer a "seller pleaser."
Your thoughts?
(leave message as anonmyous but sign your name)
Guilty, Guilty, Guilty. I have decided it feels worse to try to explain to sellers why you haven't sold their inflated price house than it is to tell them the truth about price up front and let them go to someone else who will get the joy of answering the "why hasn't it sold yet?" questions. (Now I remeber why I decided I liked buyers better than sellers when I first got into this joyous business) Sharon
ReplyDeleteOh Lordy! You hit the nail on the head girl! What truth. I vow we all come together and build a strong, long chain of MB'ers and hold strong and firm to our true beliefs and values in our business. I have made the same mistakes over and over! Really!! I believe that the stronger we are in our principles of business, the stronger it will strenghten our brand as top professionals in the business. Over a period of time, it will ring true that the folks of Metro Brokers are truly the most well trained and professional Realtors of todays world and I feel that folks today are actually looking for honesty and knowledge when it comes to their most prized possession, their home. Thats where we all can play an important role in this mad mad world we all love sooo much! With that said, Let's ALL Rock it this year! Lets go above and beyond and set the Real Estate market on fire with Metro Brokers signs everywhere :-)Paula Irwin
ReplyDeleteJust listed a FSBO that was 169900.00 for 6 months and sold it at 146K in 7 days. The seller said THANK YOU at closing and hugged me. The stress of owning 3 homes was too much for her. Got an internet this month from a seller who has listed twice with other Realtors over the last 18 months at from 130-116K. Went in and showed them that there are 5 comps at 105K and they promised to list with me in January even though they may bring money to closing. After having their 3rd child in a 2 bedroom home they no longer care. Stick to your guns and SELL it, don't just LIST it! Angela.
ReplyDeleteI love you and your post Gwen! Carolyn
ReplyDeleteI'm the Seller. My house has been listed so long with Gwen that I have lost track when the listing expired. No way was I going to switch Realtors. We're on our 3rd contract, here is hoping Third One really is a Charm.
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