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| February 10, 2012 |
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Train Yourself To See The Possibilities In Every Listing
by Blanche Evans
If you think that passing criticism to your buyer about a listing makes you closer to your prospect in a conspiratorial, chummy, I'm-only-saying-this-to-you-because-you're-special sort of way, think again. Negativity can backfire, eroding buyer confidence, which, in turn, can cause your buyer to quietly slip away and get another agent. You have no idea of the harm you may do or the opportunities you and your buyer can miss when you turn up your nose at a certain home or avoid showing homes on certain streets and in certain neighborhoods. Your buyer wants you to show her the possibilities, not to make decisions about which or what kind of home she should buy. And if your buyer happens not to agree with you, she'll lose confidence in you. The real estate industry is powerful enough in its army of independent agents like you to make whole areas prosper or decline. You've seen it happen, and you may be contributing to it right now. The effect trickles down. One neighborhood will suddenly become "hot," while another identical neighborhood languishes. What's the reason? The first area has caught fire with Realtors, and they build more sales by fanning buyer interest. But the hottest neighborhoods may not be the right fit for your buyer due to the costs, sizes or types of home and other reasons. That leaves you showing other homes with flagging enthusiasm that could infect your buyer. If your buyer can't seem to make a decision, it could be your carefully hidden disapproval is leaching out in ways you don't know. So train yourself to see the possibilities in every home. After all, price, condition and location can all be factors in selling a home to the right buyer. Also consider the sellers who happen to be in the area that is suddenly out of favor with local brokers and agents. While Realtors are busy building one neighborhood up and fighting for listings and panicking their buyers into paying top dollar, sellers with similar homes that languish wonder what's happening. If sellers can't get Realtors to show their homes, the only choice is to come down in price until a buyer is found. Then, of course, the house sells and resentment smolders, because the seller believes Realtors did nothing to get the home sold and that it was the firesale price that moved the property. The big picture Keep in mind that sellers put their homes in the MLS because they want Realtors' help. They believe participating agents will bring clients to their homes. These sellers are offering you inventory to show, and you are getting paid to sell, not to steer people away from their homes. If homes were easy to sell, more sellers would attempt to sell their homes themselves, and the real estate industry would be even more competitive than it already is. Sellers know selling their home will be a challenge. That's why they start with the most money and the best terms, because they know they'll have to compromise somewhere. It's the nature of MLS homes that many are overpriced, undermaintained, in a poor location, or otherwise buyer-unfriendly. So don't expect homes in the MLS to be move-in ready, and teach your buyers not to expect perfection either. Be practical But here's what most agents forget - all homes will eventually sell for the right price to the right buyer. Trying to fit all your buyers into a perfect, easy-to-sell home is simply unrealistic. For that reason alone, it is not a Realtor's place to refuse to show an "overpriced" listing, or a listing on a busy street, or one that hasn't been updated because your buyer may actually be the right buyer for one of those homes. It all comes down to price, location, and condition. You can't predict which home will make your buyer fall in love. A buyer in a certain price range may find that he can buy more house if he compromises on location or condition. A buyer who wants a home in perfect condition may have to compromise on location or price. You have to ask the buyer's preferences to get a starting point, but don't assume that's where your buyer will end up. You may find that the house you thought he would never buy reminds him of where he grew up. Suddenly, it doesn't matter that the house needs a ton of work. That's the house for him, he says. So the real take away is to be more flexible, but not to the point where you are feigning enthusiasm. That can be just as deadly to a buyer, if she picks up on it. Just remember that most negatives in any home can be changed and it is up to the buyer to make the decision to take on the job or not. It's not your job to judge the housing inventory, but to show it and sell it. Let the market, the buyers, do the judging. Published: September 30, 2004 Use of this article without permission is a violation of federal copyright laws. Related Articles: |
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