| November 24, 2004 |
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The listing is in terrible condition. It smells like a wet dog. Make that a wet, unhousebroken dog. It hasn't been updated in years. And the seller wants more per square foot than the most luxurious brand-new home. You shouldn't be tempted by a listing like this, but you need to list something. The only thing standing between you and the seller is The Awful Truth - what it will really take for the seller to do to get a quick, top-dollar sale. Part One of The Awful Truth is letting the seller know that you are responsible for marketing the home, not making it ready to sell. That's the seller's job. But many sellers unrealistically believe that you should be able to successfully market their homes without their having to do a thing. Part Two of The Awful Truth is disabusing them of such a notion. Sellers do have to prepare their homes to meet the expectations of the market, or risk letting the home sit without offers. At best, homes that are underprepared for the market will generate lower offers. But you're scared. You know the seller doesn't want to hear that the home won't sell without new carpet, paint, decluttering, an attitude and price adjustment, and a long list of other must-do's. Like many agents, you're more afraid of your sellers' wrath than you are to take an overpriced, underprepared or otherwise hard-to-sell listing. So you take the listing, hoping the seller will come to his/her senses after a month of poor showings and let you adjust the price. But this doesn't really work, and you know it. Frankly, you should be thinking that a won't-sell listing is a lot scarier than any seller, except it doesn't give you the evil eye, raise its voice, or threaten to fire you. Instead it silently ruins your reputation. Here's how a won't-sell listing can do a listing agent a lot of harm:
Why would you put yourself and your broker through that? Better to sit down with your seller and tell them The Awful Truth about their home from the beginning. Here's how:
There's no harm in pulling in a third-party like Realty Times to help you persuade your seller. Don't try to do it alone. If you aren't familiar with every home on your seller's block, you'll sputter. Better to have a few well-chosen allies who can help you. The idea is to help your seller help himself. Editor's note: Realty Times' archives of news and advice is available for you to search, email and print, but not to reprint into newsletters unless you are a paying subscriber. Click on the "search" feature and put in topics such as "pets," "landscaping," and "preparing and sale," for ideas for articles to print or email for your sellers. |
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