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Posted: Wednesday, December 9, 2009 - 1 comment(s) [ Comment ] - 0 trackback(s) [ Trackback ]

Tis’ the Season to Cancel Listings

The chill of winter is in the air. Santa’s sleigh is being loaded with presents for good boys and girls. It’s a great time for real estate agents to set goals, form business plans and cancel listings.
 
If the past few months have shown that a seller is not ‘serious about selling’, and willing to put their price where the market is, it’s time to give them the gift of a cancellation form. A stubborn seller is a gift that keeps on giving marketing costs, unrealistic expectations, and unwanted aggravation.
 
Last week I cancelled a listing that had been on the market with me for 60 days. Of course, it was listed with another agent in the past and failed to sell. This time though, the seller said they would, “Do what it takes”. They got an appraisal for 250k. But, they refused to lower their price below 265k. I wished them happy holidays with another agent. Even Santa Clause doesn’t bring contracts to overpriced properties.
 
A few days ago another seller told the appraiser what he “Needed to have” as a value on the appraisal. The appraiser declined to complete the report. Congratulation to Mr. Appraiser for his honesty and courage. This same seller complained about an agent on tour talking on his cell phone rather than giving his 40 year old property that needs updating his undivided attention. This seller was also ‘released to industry’.
 
The holidays are a wonderful time to spend with family, friends, and sellers who appreciate your services. They are a great time to count your blessings. Some of your clients may be stubborn grinches who are unwilling to listen to the listing agent, buyer feedback forms, and the market in general. It would be better to spend the New Year without these folks.
Posted: Friday, November 6, 2009 - 0 comment(s) [ Comment ] - 0 trackback(s) [ Trackback ]

The ‘Godfather’ close

 

What’s your favorite close on a listing appointment? I’m not talking about a ‘come list me’ from Uncle Guido. I’m talking about a seller who is interviewing 5 agents and you’re not the last agent giving a presentation. In my opinion, few closes are better than the “Godfather’ close.

 

Let’s set the stage. You’ve given a listing presentation to the seller who you determine is ‘serious about selling’. They are prepared to be realistic on pricing, and the house shows great and needs no further staging. You want this listing and have reminded the seller you are ready, willing, and able to proceed with a few signatures.

 

The seller replies that they believe you can get the job done. They are impressed with your professionalism, red power tie, and cologne that reminds them of their favorite aerobic instructor. But, they promised several other agents an interview and “Their word is their bond”. Now what do you do? It’s time to introduce them to your ‘Godfather’ close.

 

The sellers are smiling and leaning forward in their kitchen chairs. You begin to smile and lean forward also. The sellers speak slowly and deliberately. You speak slowly and deliberately because of your neurolinguistic training class that says matching and mirroring enhances receptivity. Now the ‘Godfather’ close begins.

 

“M/M Seller, if I were to make you an offer you couldn’t refuse; would you list your property with me right now”? The sellers look at each other amazed because they said they wanted an assertive agent this time, and this feels assertive to them. Of course, they ask, “What’s the offer”?

 

You repeat the ‘if – then’ proposition to make sure they are interested. They reply out of intense curiosity, “Yes, with the right offer we’ll sign now, and cancel the other appointments. What’s the deal?”

 

You could play ‘let’s make a deal’, but you don’t. You simply say, “M/M Seller, you tell me. What would I need to do, or promise to obtain your commitment right now”?They look in each other’s eyes and say, “All the other agents wanted a one year listing and that’s too long. Would you take a listing for 120 days”? You are tempted to wipe the saliva from the corner of your mouth, and you do.

 

The Godfather in you now says, “If I would take the listing for 120 days, will you list with me right now?” The seller replies, “Yes”. You consummate the paperwork, as you and the Godfather smile and live happily ever after.

 


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