Of all the chores that we perform in our industry, taking a listing probably is one of the more detailed and involved processes that we do in our daily chores. It is a very involved procedure from market analysis, research, CMA and then finally our listing presentation. However, we must not get so involved in the process of winning the listing that we forget to ask ourselves if it is smart business sense to take the listing, and on what terms?

It’s often a fatal mistake for the real estate professional to lose sight of who is conducting the listing interview … the seller or the agent? I believe it is the listing agent, and because we are paid only by commission, our choices will either put money in our pockets, or sap us mentally of our time, money and spent talents. We must never lose sight of the fact that it is the real estate professional that is conducting the interview on a listing presentation, and that it is wise to take the listing only if it is on our terms. Not all listings are sellable.

Industry veterans fully understand why some agents will take a listing on any terms. They do so from a lack of experience and skill. It is a fatal and costly mistake to take all listings … no matter how good or bad. It’s more important to have listings that are sellable, and that can successfully close. A satisfied customer is our best source of advertising! So why not leave the bad listings for the competition? Let their phones ring off the hook by irate and unrealistic home sellers that are frustrated when their overpriced, personalized or messy home doesn’t sell! Poor listings in general are a waste of time and money!

If we take a listing based solely on the seller’s needs and objectives, we do so because of a total lack of self confidence. It would appear that we aren’t capable of handling objections as they arise. If you want to get a listing and close a seller on objections of price, commission or appearance you’ll first need to make a presentation with a logical and coherent dialogue. Sellers must see the market as a true real estate professional sees it. All parties must all be reading on the same page. Pricing, appearance, market conditions, and terms must be brought to the table and addressed. It is important to tell potential clients the truth.

When taking a listing, it isn’t easy to tell a seller: your $200,000 dollar homes is overpriced by $40K, or to get $200,000 his/ her home needs paint, carpet, and repairs if they hope to sell in this millennium! So why do so many agents take listings that are overpriced, and in poor condition? We must ask ourselves if a listing doesn’t sell and expires is that a good reflection on us or our brokerage? Does it make sense to list a home you cannot give away, and then call other agents for feedback? I think most will agree it does not! It is counterproductive and not only makes us look bad to the sellers and local community, but will be deemed unprofessional by other agents.

Here are a few questions we should ask ourselves when taking a listing:

1. Is the listing a home you would not object to buying yourself?

2. Does the home show well? If not what can be done to improve the salability?

3. Are the seller’s expectations reasonable? Their timeframe?

4. Are the sellers motivated? Is there a sense of urgency or need to sell?

5. What are the positives of the home? The negatives?

6. Are there any structural items that need to be addressed?

7. Will identified negatives be addressed by the seller prior to listing the home?

8. Will the pricing the seller will agree to be in-line with the neighborhood comps?

9. Will the seller list with you, at your commission rate and terms?

If the answers to the above questions are mostly “No,” then why bother taking the listing?

To do so will ensure an unhappy relationship with unreasonable demands until the term of the listing expires. An unreasonable seller’s comments about your inability to sell the home can ruin your local reputation in your marketplace! The expired listing can negate any local marketing or farming efforts that you were building over a period of years. This is adding insult to injury considering all the services and marketing dollars that you spent.

It is truly time to ask yourself how the seller did on your listing presentation!

Published: September 8, 2003

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Jim Crawford, ABR, e-PRO 500 is currently licensed as a Broker Associate with RE/MAX Greater Atlanta in Atlanta Georgia, and as Broker Associate with Distinctive Realty Inc. in McLean Virginia. Jim and his wife Ellen work as a husband and wife team in the northern Atlanta suburbs. As the team's rainmaker, Jim is a self-taught webmaster and designer, and he relies exclusively on the Internet for marketing. He is considered an expert on marketing, nationwide relocation, cutting edge technology, Search Engine Optimization (SEO) for real estate, and Internet marketing. Jim's seminars, online contributions, and technology ideas assist real estate agents to maximize their business results, and raise the industry's professional service level skills. His common sense marketing ideas have been published and quoted regularly in trade publications. He has also consulted and advised NAR offices regarding Internet issues, and Internet ethics for Realtors. In between sales, Jim is a popular speaker at national and regional real estate seminars, and retreats. He is also an online real estate coach, with a self-tutorial coaching site for real estate professionals. Jim was a featured speaker at the November 2004 National Association of REALTORS® convention in Orlando, and has spoken at the several REALTORS® conventions both in the United States and Canada. Visit his website at RealEstateTechCoach.com, or e-mail him at .