If you talk to most real estate agents you will hear that listings are the way to go to build your business, but in my experience it’s not wise to take every listing that comes your way.
The Ideal Situation?
I recently encountered a seller who had a great house, in a great location. Sounds like an ideal situation right? Let me also add that the seller was obsessed with their home…which can be good and bad. But they also knew more than me…at least they thought they did. Don’t get me wrong, I’m okay with not being the smartest one in the room, but let me give you a few more details as to why this may have been a difficult transaction to take on.
The Seller Had Lots Of Experience
These particular sellers had been involved in some aspect of real estate for over thirty years. Although they hadn’t bought or sold anything in the past decade, they thought they knew everything there was to know about selling their house. While it was indeed a lovely house, it was very unique. This two bedroom beauty was very vertical and had an “interesting” floor plan. The furniture was high end so they didn’t want any potential buyers who were viewing the property to sit on it. The master bedroom was gigantic and had a lot of wasted space and the second bedroom was an awkward shape. It was being used as an office and I kept trying to envision where a bed would actually go. The kitchen was a little dated, but nice and bathrooms were all very high end. There was a little outdoor space and no parking.
We Need Top Dollar
Throughout the listing presentation they kept telling me how I should market the house, how the house should be staged and how many open houses I should have. Plus, they didn’t want an electronic lockbox on the property. They wanted me to be there for every showing. On top of all of this, they wanted top dollar because they needed the proceeds to purchase another house. They kept trying to get me to guarantee what they could get for the house…which I couldn’t do. Oh, and l can’t forget the request for me to lower my commission because they needed every dollar to put towards this new house.
That Was It For Me
I can take a seller thinking they know more than me. I can understand wanting top dollar, but I don’t want to work with a seller, regardless of price point, who is being unreasonable and asking me to guarantee they would get a certain price and wanting me to reduce my commission. My experience has shown me that these types of clients will work you to death and each time you see their name come up on your phone you wonder, “what do they want now?” I would rather spend my energy and money working with a seller who is willing to work with me to get their house sold.
Time To Walk Away
As I tell the agents in my office…all money, isn’t good money. So I walked away. I didn’t want to work with this seller. What would you have done?
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Enjoy less stress by having smoother transactions by implementing these simple strategies today!
Sign up today for my Free Email Course, 5 Things Every New Real Estate Agent Needs to Know.
Start building your real estate business on a solid foundation. Click here to get started.
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As an active Realtor licensed in three jurisdictions, I approach real estate training from a different perspective. With over 18 years in the real estate business, I teach agents what it’s really like to be a real estate agent.