Hello All,
With prices continuing to fall, and the mortgage industry all but drying up, we had better just spend our time listing homes that will pass inspections and appraisals. Our job as Realtors is continuing to evolve into total consulting position with a well rounded understanding of the entire home buying, financing, and marketing process. Contingincy offers make you feel good for a minute, but when the property, or the buyer cannot qualify, then we have done all our best efforts for nothing. I am on a record pace for deals that have fallen apart due to a myriad of reasons, but the final outcome is a disapointed seller(and buyer) and no money for me.
We do get paid well for the amount of time we actually spend on a transaction,that closes; we should align ourself with a professsional team around us to insure our deals have a chance to go thru before we just accept contracts.
If we take this same logic and back up a few steps, we see that we should take the same care in pricing and accepting a listing in this market. Our marketing budgets get stretched thin promoting properties that are out of reality but we have an obligation to fulfill our contractual obligations.
Better that we should leave the overpriced listings out there for the competion to go broke with, and spend our resources more efficiantly on the listings that are really sellable. We owe it to ourselves (and our spouses)to earn a living during this market. If we don't stand up for ourselves and do our job, then we will look less professional when our signs just sit on yards for a long time and just expire anyway.
Help encourage your fellow Realtors to regain our collective dignity and agree to leave the overpriced listing table and find the next motivated seller. Work expireds and FSBO's that are motivated, and I will see you in this Realtor only format a year from now. For those of you who feel its thier duty to just go along with whatever the seller wants to price it at, God Bless and I hope your part time job pays enough to pay the bills.
Lets all get more professional and stick to our guns. It will work out for the strong among us.
Mike Norvell Sr
Exit Realty Tri-County
Mikenorvell.com
Lets Act Like Proffessional Realtors
5 comments • Mike Norvell Sr / Norvell Consulting Group • September 14 2007 07:34PMComments
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Mike, I too am turning down listings if they don't listen to my advice. I figure if they want a professional they need to hear professional wisdom.
Rob
Way to Go Dan,
I agree 100 percent on being kind, but firm on not taking overpriced listings. I just got a call from a listing that I turned down a while back that was over 100,000 too high by my comps. The listing went to a competitor who advertised and worked hard to sell this overpriced turkey, and is now being rewarded by the seller calling me and asking me to list the nearly expired listing for what I think it will SELL for when it does expire in a few weeks. He is now saying that he should have believed me and not wasted all this time, to say nothing of all the monthly payments into a property in a declining market!!
Thanks for the support, and keep on selling!!
Mike Norvell Sr
MikeNorvell.com