Several months ago our client told us that she wasn`t satisfied with our service, she felt that we weren`t doing enough to have her home sold. She wanted us to release the listing. I explained that her home was leveraged to the max. on the Internet, the real estate magazines, as well as we did 4 consecutive "Open Houses". It was my opinion that the home was "Overpriced" and antiquated for the price that she wanted. The comps were in the $350,000 range, listing a home at $425,000 would bring no buyers. We held the listing for a total of 60 days. Bought her one offer at $355,000 which she refused.We gave her back the listing and wished her well.



Last night, I received a call from our former client. She wanted me to "Take Back" her listing because the Agent that she hired promised her the world and gave her in her words "Nothing"! She told me that she didn`t realize how much advertising we actually did in comparison, nor could she even get her other agent to do one "Open House". The listings she signed with the other agent is set to expire in two weeks. I assured her that we`d take her listing again, but, this time she allow our company to do what we do, and that`s "Sell Real Estate".



In today`s market, there are too many agents looking to steal other Realtors listings by "bad mouthing, lying, over exaggerating" what they can really do, without much care. In the case of this Seller, she was swayed by a Rookie, who told her "Our Company" won`t sell a home like her national company can. You know the one which guarantees, "They`ll buy You Home"... (SIC)

What most Realtors fail to grasp is that listing a home today, isn`t just about placing it on the MLS and than forget it exists. You have to have the right amount of exposure to ensure that the home is thoroughly represented.

Many Realtors today, fail to believe that. They feel that having a sign is sufficient.

We`re happy that we over extend to our "Buyers and Seller', it`s our belief that the service we provide is at a much higher level than the competition, after hearing from this client she`s confirmed that we`re doing it right !

The market todays dictates that you have to spend money albiet "Flyers, magazines, post cards, Open Houses, Virtual Tours, to get a home noticed, without doing any or all of the above mentioned will no longer get a home sold fast on the market.

Amen! I am a firm believer in marketing. I am constantly looking for new, creative ways to put my listings in front of buyers. You simply MUST push your homes as far out in front of the field as possible, especially now that (in our area at least) it's becoming more of a buyers' market.

Doesn't it feel great that your efforts are appreciated, even at this late date? Sounds like you'll have a great source of referrals out of this one. Too bad she's had to learn the hard way.

I agree with you to a certain extent. All the advertising, Open Houses, Virtual Tours in the world won't help if the house is priced incorrectly which seems to be what happened in your case. My question to you is "Why did you take an overpriced listing to begin with?" It does a great disservice to the customer when agents take the listing knowing that it's overpriced. The seller ultimately thinks it's the agent's fault the house didn't sell. The great part is that she actually came back to you but bottom line...you still didn't get her house sold the first time around.

The other agent probably priced the house just as high but knew it was too high so wasn't going to spend money advertising it. Probably took the listing for the possibility of buyer leads.


You also need to know where the buyers come fro. 40% of buyers come from a salesperson so the fact that it is in the MLS is a major reason why houses sell. I'm not promoting the "put it in the MLS & sign in the yard & it will sell" but in a lot of markets that's really all you need. 20% of buyers come from the yard sign. I am a firm believer that we earn or *should* be earning our money negotiating the contract, getting it to closing & actually trying to "sell" the house- NOT market it

Please don't get me wrong, I advertise my agent's listings in magazines, newspaper, virtual tours, open houses too but mainly because that's what sellers want. I am probably going to get a lot of flack for saying it but I believe the magazines & newspapers don't "sell" houses. It's great advertising for the agent that probably worked hard to get the listing & hopefully get more business from it. Of course, there are the exceptions & in some markets that may be the reason homes sell.

Tanya,
Thank You for the response.
As Realtors our job is to explain to our client what a home should be listed on an open market. After we give them all the proper data, the seller inevitably tells us where to list a home.Good, Bad or indifferent, it`s their home not ours.
If a seller wants to their home listed at a higher price, I explain to them "Lets review in two weeks to see how much traffic" is coming to your home. I normally stipulate that after 3 weeks in the Listing contract that the seller agrees to drop the sales price.As an agent, "Can we really enforce that"?, the answer is no..

I believe our job is to advise, not dicate what a home should list for. I wouldn't walk away from a listing unless of course the seller is stead fast on a ridiculous sales price.

I do find that in today's market, especially in a "Downward Market" advertising works because of the exposure.