Top 15 Things A Listing Agent Won’t Tell Sellers … (But REALLY Should …)
We’ve all been there: something happens and you feel like you just HAVE to say something. However, common sense and the manners your mother pounded into you during your childhood keep your lips planted together and those thoughts remain inside your head.
As I talk to a lot of REALTORS, they share with me things they’ve often wanted to say to sellers but never had the guts to do so. But deep inside they felt they really SHOULD have said something. And so … since they won’t say those things out loud, I will!
Here are the top 15 things listing agents want to say to sellers, but won’t …
And I didn’t make ANY of this up. I also know that one or two of these things may offend someone, so please accept my apologies right up front!
1. “I know it’s hard to believe, but as professional Realtors, we actually do know more about selling your house than you do.”
You might be an engineer, doctor, lawyer or tribal chieftain … but as a licensed, highly trained full-time REALTOR, we do this all day long every day. And just like we’d never presume to tell you how to do your job, we REALLY don’t like it when you presume to know more about selling houses than we do.
2. “You have a nice house, but it’s not anything really special.”
We know you live there and have your emotions tied to your home, but as Realtors, we see hundreds and hundreds of homes every year and trust me, yours is … ok. There is absolutely no reason it should be priced higher than other comparable homes in the area. None. Zip. Nadda. In fact, if you want it to sell in the current market, it should actually be priced a bit LESS …
3. “Your upgrades don’t deserve the extra amount you want added to the price.”
We’re glad you’ve added crown molding everywhere. And paid for Ralph Lauren suede paint. And new carpet. Your new toilet seats are great. And we’re really glad you sanded out the dog pee stains in the hardwood floors and refinished them. However, none of your upgrades add a single penny’s value to your home. In the new economy, new windows, nice flooring and a newish roof should be considered standard. Buyers today demand a whole lot more before they are willing to start paying premium prices. They expect designer kitchens with custom cherry cabinets, recessed halogen lighting, new upscale appliances, solid granite counters and more. They want totally upgraded baths with Jacuzzi tubs, tumbled marble, frameless glass doors. And so on …
4. “I know what you think your house is worth.”
Now get real! The seller doesn’t set the price, the market does. And the simple truth is that lower priced homes sell while higher prices homes sit and sit and sit. Sorry. And I truly AM empathetic that you bought your home in 2005 or 2006. At the top of the market. Please remember that I own a house too and my property value has also gone into the toilet …
5. “I’m glad you collect things. We’re selling your house, not your stuff.”
You’re moving anyway, pack all your collections away. Now. And the talking fish needs to be the first thing off the wall and in a box …
6. “Agents are willing to do open houses because they get prospective buyers – who want to buy somebody else’s house, not yours.”
Open houses REALLY are not an effective way to sell your home. Even though they sometimes work, they are the least effective way of getting the job done. Trust us. See point #1 above.
7. “We have some issues with your decorating …”
The CalTrans orange room has to be repainted. And the lime green one. While you are at it, get the midnight blue room as well. Whatever were you thinking? Did you scrounge through the “ooops” bin at Home Depot? It’s nice that you have wallpaper from 1978. Please remove it and repaint the wall. And whatever you do, DON’T paint over it …
8. “I really don’t want to get intimate with your dog.”
I especially don’t like what he’s doing to my leg. And the smell in here is really bad. Please keep Fido in the garage during the time you are selling your home. And the doggy bombs in the back yard gotta go as well.
9. “I will not be responsible for your cat.”
If you are concerned it will bolt out the door when prospective buyers arrive, then please keep Fluffy in a Kitty Krate while you are gone.
10. “Don’t put up ANY roadblocks that may keep sellers out.”
Don’t even THINK about showing your home by “appointment only.” Don’t want a lock box? Trust me, your stuff isn’t that valuable. Don’t want buyers after 5:00 p.m. at night? You’re kidding, right? If a buyer can't get in when it works for them, they are gone.
11. “Prospective Buyers DO NOT want you to give them a tour of your home.”
They actually want you out of the house … so resist the urge to be a tour guide and go for a walk around the block. They’ll find out on their own that you’ve carefully lined the cupboards with new floral shelf liners and put a new TP holder in the master bath.
12. “STOP SMOKING IN YOUR HOUSE!!”
Especially the pot …
13. When a Realtor calls to let you know they’re coming at 11:00 a.m., rings your door bell, knocks VERY loudly, opens your front door and yells, “HELLO, REALTOR,” …
Please get out of bed BEFORE we get to your bedroom … and put some clothes on when you do …
14. What is that smell???
Whatever it is… it’s gotta go … and please don’t cook with curry until you are in your new home … or fry fish right before people come to see your home …
15. “We’re worth our commission.”
Every penny of it. Selling a house is actually hard work. And, for those of us who market extensively, it costs a lot of money that we pay out of pocket up front. You really do get what you pay for. In the same way you’re not going to be able to buy a Honda at a Daewoo or Suzuki dealership, you are not going to get full support, service and top-notch professional representation at bargain basement prices. There’s a very good reason many discount brokerages are going out of business in the current economy. Anyone who is willing to take a cut-rate commission structure is simply not going to be able to make enough off your listing to do the types of advertising necessary to get you top dollar. And since you are competing against REOs and Short Sales, if you go cheap, you will lose every time.
Well … there they are – I've probably managed to offend everyone! I know you will have some of your own to add ... please, be my guest!
Fair Housing and Equal Opportunity
Comments
sellers being emotional attached to the house... they need to get real, once the property is for sale that is already a commodity and it is for the public to see if they wanted to buy it
What more can you add?
One of my all time favorites is the "Winchester Mystery House addition". You know...as long as we keep building, the ghosts will stay away. No rhyme, no reason, no plan and (obviously) no architect. Just a really ugly addition.
I was cracking up! I think its the basis comedy routine at Tommy T's.
The above applies perfectly to the two listings you helped me with.
Snoopy would say Arrrr..... to the smell, to the stuff, to the decorations and to the “seller's belief” of their home value or is it self worth?
As realtors we might tread lightly as whatever we really want to say will offend. We might want to preface every listing agreement with:
“In order to sell your home, I will tell you the truth and the ugly realities of the current housing market which will most definitely offend you!”
As I read your blog, I was struck by the concept of "seller's belief." In working with seniors, research has found that cohort share a similar belief system. Those now in their 80's grew up during the depression and though they might now have millions of dollars in their trust funds, they remain frugal. They believe they are broke.
Similarly, I think the generations of people selling their homes these days have a belief and mindset based on the decades of growth and prosperity regardless of the ups and downs, the value has been somewhat stable. Anything that opposes their belief system about their worth and value that developed over many years is outside of their realm of understanding or comprehension.
Our message cannot get much clearer than the statics we present, yet sellers still resist and want to “do it their way.” They still believe that some day that one buyer will crawl out of the woodwork like a knight in shinning armor and buy their house! Just like before! I guess it is our job to try to re-educate sellers that times are really changing, if they wait and resist a realtors expertise which speaks to today’s reality, the buyer will be the bank. The bank is no Knight in Shinning Armor.
The bank also does not care about the cat, the dog, the stuff, smell, seller’s feelings or seller’s perception of value. The bank, however, will kick your ass out and tarnish your credit. This is our new cohort history. Get used to it.
Before you get too big of a head, please acknowledge that the behavior of some realtors would lead to a similar post from the other side. for example, In the book Freakonomics, it was found that realtors kept their homes for sale longer and generally received a higher price than the homes they sold for others. Conflicts of interest are the realtor's burden to bear, and ours to be ever vigilent.
SALESPERSON WANTED! Pay is great!
I totally understand your frustrations. Anyone who has sold a home before will readily see the difference between the way homes are marketed today and in yesteryear. It’s not the Realtors who have changed, it is our society. In fact, many Realtors who’ve not understood and adapted to the new societal changes have been left in the cold – the sales techniques that worked “back in the day” are no longer effective. Realtors who insist on doing “business as usually” typically end up with little or no sales. It’s the sad truth.
Here are a couple of factors you need to consider:
It is a LOT more work to sell a home now that 20 years ago and to do an effective job of marketing is SUBSTANTIALLY more expensive. Used to be that Realtors listed a house, had their local MLS take a single picture of the home for them, put a sign on the front lawn and made up a very simple brochure. They walked the neighborhoods, put ads in the local newspaper, did a few open houses and waited.
Neighborhoods have changed. The days of sandlot baseball are gone. Children no longer play together in the streets. Neighbors no longer talk over their fences, walk their neighborhoods in the evening, sit on the porch and talk to passersby or get together for anything. Social circles are no longer defined geographically. The Internet, along with Facebook and other such sites has drastically changed the way people relate. People come home to their homes, lock their doors and relate from inside their homes through the phone and Internet. If they visit, they meet in places such as Starbucks or social venues. They leave their neighborhoods and drive, sometimes great distances, to go to church, work and meet with friends. People hardly even invite others over for dinner anymore, and the idea of families eating together at dinner has disappeared with the Cleavers leaving primetime. As another example, they are now entertained INSIDE their homes instead of needing to go to local theaters.
People no longer welcome a Realtor at the front door. In fact, with the advent of so many gated communities, people come home, drive through their gates, pull into their homes and figuratively “pull up the drawbridge.” They DON’T want people from the outside to access them.
Seller’s expectations have changed along with the evolution of the Internet. They want to sell their homes without open houses, with no lockbox, by appointment only to those who can demonstrate ahead of time that they are prequalified. They realize that a Realtor might get 10 people through their home on a weekend with an Open House (and they are inconvenienced by being out of their home during the event), however, they know that the Virtual Open House their Realtor has constructed on the Internet will get thousands of visits per week. And that those who visit AFTER they’ve seen the home on the Internet will be the ones who are truly interested in the home.
An example would be http://www.35937Blair.com.
I know many Realtors who are working harder than ever before at their craft. 70 hour work weeks are common for scores of, and many don’t even own a set of golf clubs. They drive Hondas and Toyotas, and, even though they do a large number of transactions, are still having difficulties making ends meet because of the new economic factors. Truth is, most people don’t understand what Realtors really do. And they further do not understand the costs involved with effectively marketing homes. They look at the commission structures and assume Realtors are getting rich off of their sale. Nothing could be further from the truth. It’s no surprise that so many cut-rate commission companies are going out of business – they simply cannot survive.
Mary Ellen, you state, “SALESPERSON WANTED! Pay is great!”
Pay is great? Really? Not so much anymore. As for taking people’s lives’ lightly, I beg to differ. This is a sacred trust and I personally regard it as such. And the dozens and dozens of testimonials we have would certainly attest to that fact.
You are most certainly correct in one thing – we owe the best to our clients. And that is exactly what OUR clients get.
foreclosed properties. Most sellers don't want to pay attention to Realtos suggestions and advice. It is
a hard pill to swallow as WS Homeowner states. A home that smells good, has no clutter etc, etc, sells
a lot quicker than some that are in need of work. They also sell faster.
I do sympathize with the home owner above, and, I know what she feels is true, but, if she doesn't think that Realtors are working hard these days, then, she's got the wrong Realtor.
But, I do disagree with one thing you said, and, with most Realtors. I disagree about open houses. Not the premise that they don't sell that house, for the most part, I would say that less than 20% of sales come from people who heard of a home first at the open house. BUT, I do believe that, particularly in 'walking', densely occupied urban neighborhoods, open houses do assist. Particularly on those 'by appointment only' homes.
But not just public opens, I think that 'broker' opens and 'neighbor' opens can build up a network of people aware of the home, who will, peripherally, promote the property.
And, of course, you DO get all those buyers. ;)
Cheers,
Aaron Smith, REALTOR
The Smith Team
Actually, I've found that sellers are usually eager to learn how to improve their odds of selling and do the majority of what we advise. It takes a lot of time and effort to delicately handle some of these issues, but the statistics are phenomenal when a house is well prepared - even in this market!
"No I just told you... you can't get a loan on a condo conversion in Florida right now. No one cares what a fab credit score you think you have, or how much money you make, or how much you can put down. It's not about you, it's about the credibility of the community. So stop arguing with me. I know what I'm doing. Right now, it's cash, FHA or nothing. (See also #1)
Thanks for saying all these things. It is great therapy to know others have these experiences. Not that I doubted it. But you do not alway get the chance to talk openly when meeting other brokers and because of all the rules and regulations, ethics, etc. that we must abide by, don't always feel comfortable in revealing these frustrations.
I can even add a couple that might add to the "what?" factor.
How about pet snakes ? In a room painted midnight blue with little night lights only. AHHHHHH !
Or a life size "dummy" that is used for karate training but is left "lurking" in the corner of the living room. I thought it was a burglar ! In both instances my heart skipped a couple of beats. Fortunately the seller removed them all.
I wish I had all the money I have spent on room air fresheners, Fabreze, candles, etc. when holding Open Houses in "smelly" properties. Opening in the windows in 40 degree weather is not always desirable.
Thanks again. I feel better !
Whatever price homes are selling for in your area, it is the buyer or market that sets the price, not the seller. This point is extremely difficult to get across and has been throughout the years.
If only all sellers would listen to their professionals that they hire to market their property!
Alice L. Feldman
I do have to comment that I sold my house from to a visitor from one of my Open Houses. Go figure-
I’m afraid I have to disagree with the comment from cherylleescott. Unfortunately, the inability to get into a home doesn’t install courtesy - it breeds annoyance.
In my experience, the majority of sellers who show by “appointment only” are doing so out of fear and a lack of trust for the Realtors showing the homes. They are typically afraid that their belongings might be broken or stolen or their space might be violated in some way. They want to be there to “watch” the showing to make sure nothing goes wrong. As an example, they want to ensure that we take our shoes off.
Bottom line: they want to be in control of the process. Unfortunately, their insistence on control can make the process VERY aggravating for all parties concerned. I understand if there is a genuine medical issue or something similar. Unfortunately, this is seldom the case.
Because of the hectic pace of life here in the Bay Area, most couples looking for homes have precious little to spend on their searches. They need to be able to get into homes on THEIR schedule, not the schedule of a particular homeowner.
We’ve seen a direct relationship between accessibility to a home, the time it takes to sell and the price obtained in the end. Most of my buyers, informed that they cannot access a house when THEY are able to do so, simply cross the property off their list and move on. They are not going to take time out of their schedules to stop what they are doing drive across town and meet a Realtor simply to see one home they could see when it was convenient for them.
It’s not my job to educate buyers in the finer points of commitment, courtesy or manners – it’s my job to facilitate the purchase of a home. In the performance of that job, I try to remove as many obstacles as possible to keep everything moving along smoothly. Homes that are shown by “appointment only” are huge speed bumps in the process and are distained by buyers and Realtors alike.
Maybe we can help Mary Ellen too?
I do agree that the seller needs to be flexible, and let the Realtor do his/her job. Either set an appointment with plenty of notice so the seller can plan ahead, or call at least a half hour before you need to see the house (at a time when someone can actually be at home such as an evening or weekend) so that the seller can quickly straighten up and wipe down (after all, the seller is still living there, with dogs and kid...both of which are inherently messy!) before loading the whole family into the car and heading out for an hour or so to leave the house free for your showing.
Darren McShane
Rebecca, most who has not sold or worked for an agent have the mind set agents are all over paid for what they do. This is because there is a lot of work done behind the scenes that you do not see. If we've done a great job we make it look effortless.
* Education (think attorney and marketing). We must be up to the minute on everything and it changes.
* Disclosures, here in the Bay area that is 1-6 inches of paper compliance. We read this stuff and explain it.
* Nework meetings
* The pro bono work, all those buyers and sellers who use our time and services and end up not buying or selling. What other profession do you know where you work for free, pay for everything out of your own pocket and only get reinbursed after splitting the commission with the Broker and other Agent (they don't share in the expenses). Expenses are not reinbursed by the seller or buyer. Taxes - Uncle Sam get's a chunk of it, we do not have paid health insurance, do not have a car allowance, gas and auto insurance we pay that too, cell phone bills, license fees, dues, MLS membership, lock box membership, internet fees, desk and printing fees, etc. Figure that what ever commission you negotiate you keep 1/3 - the rest goes to, the broker, taxes and expenses.
* You are one client and we are one realtor - if you were to spend a week in the shoes/car of an agent you may change your mind. My typical day starts at 6:00 a.m and ends around 10:00 p.m., between adding flyers to listing boxes, creating the marketing material, follow up with showings, buyer meetings, buyer tour preparation, screening homes, comparative market studies for listing appts., touring properties, continued education, coordinating inspections, title/escrow, reviewing documents and transmitting those documents, open houses, fielding calls and talking with vendors, clients, and sales people, time sitting during inspections, whew, I'm tired and this list goes on.
What people need to know is that we do this FULL time, which is greater than 40 hours per week, and most weekends. It is our knowledge which earns us the income, not opening a door or being a house tour guide.
And... I love it!
Now I know why I prefer buyers over sellers. Please realize there is not a dollar value on every memory or event ever celebrated in this home, now its just a house and your memories are moot points to the buyer. One would think you'd not show during dinner, or while theres a good TV program on with the family gathered. The fewer people, or none, present the better. I have told sellers some of your suggestions, as I am outspoken, and if they show little or no concern, I suggest they find another agent. We work too hard at this to be sabotaged by an unco-operative seller. I am going to print this list for future reference Thank you so much for saying it so succinctly. In todays market, if you really want to sell your home, you need to bend over backward to make it happen. If it sits too long, don't blame us.
SELLERS: proceed with caution with those who tell you that your house is fabulous, don't change a thing (now or in the future), I can get it sold for x $$$ in x amount of time and no lockbox and restricted showing times are A.O.K. In this market.
The largest part of the realtor network though are highly experienced, hard working people who often work their tails off only to realize that the transaction may never come through at all, losing a significant investment of time, energy and of course their own money in the process.
You have been a friend for a while and I know the time you invest with every (and I do mean every) client, your attention to specifics in the contract and your strength in negotiations that benefits each of them. The fact that your service never ends - but often continues to other family members (I consider family recommendations as the highest of compliments) is a tribute to you and your commitment to the industry as well as your clients. Integrity, Hurculean effort, Attention to Detail and Service - hey, do I sense a theme here?
It has been a tremendous pleasure to know you and work with you my friend. You are the best. John
I can tell that you are a wise and seasoned sales professional-you have a matter of fact style that never goes out of style.
Writing a post on Trulia that generates this much buzz is pretty nifty, but doing what you and I do everyday is even niftier.
To the few haters who commented - look, you punks and pretenders are only as good as your NEXT sale - sellers and agents included. Every one of the 15 "things" is mega-valid.
There are nuances and there are subtleties to each and every one, but Carl put them out there in such an easy to digest and easy to comprehend way, and for that he is light years ahead of most agents.
Here's my worldview - most agents in Atlanta suck.
Furthermore, most Atlanta sellers are grossly deceived.
Probably close to the same status everywhere else, but here's Atlanta's recent statistic to back up this "suction" - 70 out of 100 Atlanta listings fail to sell during their listing period. The number should come down a little this year and once we get the second quarter stats we will know for sure, but a large portion of that 70 is guilty of appointment only, pet odor, no lockbox, no virtual tour, etc. foolishness.
Price is of course the primary problem, and the primary reason that most listing agents suck.
It's the agents who can't even keep their signs erect who are usually my first clue that a house won't sell...
Carl's 15 statements are 15 ways to reduce agent suction!
As for the frustrated seller or two who longs for something other than the cold, hard reality of the real estate agency business today, just remember that hope is not a strategy.
Carl is a strategist and his long, hard work days are loaded with proactive and diligent client-focused sales tactics.
At the same time, he needs to generate and convert sales leads everyday-anyone who is in the agency business to stay must be a salesperson first and foremost.
Carl- you rock. I will remember you for Fremont referrals. Thanks for writing up the list!
Wow, I would never EVER say those things to a client (but have thought about a few)!
Sorry to say, but it's all true!
Now how to tactfully get this blog out to all potential sellers?
Thanks for writing on this topic! I disagree with some of your points. I am a Producing Associate Broker at Weichert Realtors in Brooklyn, NY. There are many ways to skin a cat! Being honest with your seller, will gain you the respect in the industry! You don't have to be blunt as you wrote but could cautiously get your point accross and still get the listing! You've to show them why you are the BEST!http://yourrealestateking.blogspot.com and visit http://www.kandhHomes.com
emai:yourrealestateking@gmail.com
There are always buyers and sellers in any given market. You house has not sold yet because it is overpriced and you are chasing the market downwards. If you want to sell your home, please clean up the mess, leave the dog at a neighbors house, and let's start over with a realisitic price.
Being honest with sellers is difficult, but my job is to be honest and truthful. And that includes the good, the bad, and the ugly.
I always believe in honesty...I will tell my sellers that I base my life and my business on honesty...and then we go from there! I would hate to not tell my sellers something that could potentially hurt a sell...now I don't believe in being rude. There is a right and wrong way to handle every situation and I believe that my customers respect honesty and do not want to be led astray by false truths.
Most Sellers are emotionally attached and it is up to us to remain unattached and truthful as to what buyers are looking for.
As far as not letting cat out - I have a better one for you from my early days as an agent. I arrived at a property for listing presentation and discovered a pig running loose around a house - and it was not a small piglet. I commented on this to the owners and was explained that this is not a pig but family pet and that this breed is legally recognized as a pet? I needed that commission badly so I did a splendid job convincing owners to keep that pet outside for a few days. But I got number of interesting comments from a few prospective buyers.
George from Tucson
PS - house did not sale.
This is one of the main reasons our software MyListingFeedback.com (http://mylistingfeedback.com) has been well received by many listing agents. The showing feedback helps reaffirm the professional advice the listing agent provides to the seller and they don't have to the bearer of bad news for the more personal issues. Buyers and showing agents provide this feedback and sellers seem to take corrective action at a much higher rate!
MyListingFeedback Team
http://mylistingfeedback.com
I Do have a Question. Am I reading 1.) Do have a lockbox or Do not have a lockbox.
2.) Do have Appointment Only or Do Not.
3.) A Qualified Letter before a showing or Not
I understand that an Open House creates greater opportunities for the Realtor than the Seller.
2. DO NOT show by appointment only (unless the seller is bedridden and the day nurse can only open the door at certain times) ... let them in when they need to get in. As in, when it works for them, not you.
3. Let any warm body in the front door that comes with a Realtor (unless it's an open house - then let them ALL in)! Even if they are not pre-approved, their cousin Billy Bob just might be ...
Is it that hard to sell houses in a seller market or is it that hard to set a low price in a buyer market (and say your $10,000 hot tube is a nice to have)?
I think that today, realtors contribute to price decline because they want houses to sell in order to get their commission. Not a big loss for the realtor, significant loss for the seller.
We (agents) tell sellers these things for one reason and one reason only - we want to help sellers acheive their goal of getting the house SOLD! Each is an obstacle in that process and must be removed in order to sell the house as quickly as possible, for the highest price possible with the least disruption to one's lifestyle as possible.
If a seller refuses to heed the advice, he does so to his own detriment. No need to shoot the messenger just because you don't like the message.
I've been looking for two years and trudged through so many overpriced houses that I'm exhausted. I've made 4 offers to be beaten out by cash offers below mine. The 2 buyers agents I worked with made me feel like they were put out by having to make it to the appointment and then they all but stood their tapping their foot waiting for me to finish so they could move on to the hot REIT or LLC package deal they had brewing. I no longer want to go through the hassle of calling the agent, any agent, to arrange a viewing.
If the house looks like it might work for me, I will make it a point to go to the open house and if it looks like it will work, I'll make the offer right there. But you won't get me to pick up the phone or my enthusiasm anytime soon.
I guess I am fortunate. My clients are great people. Sometimes they need a bit of help seeing their homes the way buyers see them, but helping home sellers figure out the marketplace is my job and I love every minute of it!
I am an Accredited Buyer Representative. When I received my designation for ABR, I was one of 41,000 Agents world-wide. I'm now one of 35,000 world wide. I called the REBAC council in Chicage for that last statistic. I endeavor to give my buyer clients as much information as possible, and I really was sorry to read some of the posts from both buyers & sellers. I'm sorry you have had bad experiences.
The market is changing. But gee whiz buyers, you have the most available houses for sale in decades & you have low interest rates. if you're a first time home buyer, you have many programs to assist you with this first purchase. There were 61,000 houses on the market in Southeastern PA in June 2009. What a selection! Sellers had 60,999 houses to compete with, so... I think I've made my point.
EVERYONE MUST DO THEIR PART to get through this market!!!
THere are GOOD and there are BAD realtor's. Out of the many realtor's I have met only about 5 would qualify for GOOD. I am talking about someone who is willing to "help" you find a place. I do not expect the realtor to do all the work--i do as much as i can by internet (due to the fact that I am wanting to buy in another state). I get frustrated as all get out when there is only one picture of a property -then you have to call to find out more---come on --i dont care how messy -junk'd up or dirty a place is---you realtor's really want to sell -----POST PICTURES!!!! 99% of the houses I go to look at don't look NOTHING like the ONE picture the realtor took!! i know you want to show the best of a property but SAVE THE BUYER"S TIME--Dont be afraid to take photo's of the place. AND PLEASE whatever you do --KNOW A LITTLE OF THE PLACE we called you about!!! It is done right aggrivating when the realtor is left in "the dark" about sizes of rooms, windows, flooring.
I just had to put my two cents in!! JUST DONT say ALL realtor's are working hard----THAT just is not so!! Realtor.com and other like websites do MAJORITY of your selling---but you are needed--and when we the buyers NEED you --PLEASE be there to answer the questions.
LOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If I may be so bold as to offer one additional suggestion, I would recommend that sellers clean up their yards. My wife and I are stationed overseas right now, but we will be moving back to the States in the not-too-distant future and have begun to scout out potential homes to buy. One of the best tools we have to work with are the aerial photographs and street views that we find on Trulia as well as the aerial photographs that county appraiser sites often provide. Some of the houses we've been looking at look great when we read the listing, but when we see a few junk cars in the yard and big dry spot where the above-ground pool used to be we tend to put those house at the bottom of our list. The amount of information available for potential buyers is so much greater than it was just a few years ago, and believe me, we're using it.
Realtors homes stay on the market longer because we don't have time to show our own homes because we are too busy showing the homes of our Sellers. Our homes sell for more because, as Realtors we have the clear advantage in knowing exactly what renovations, decor, paint colors, etc. buyers are attracted too. And we've remodeled, and maintained our homes in that way. If you ever went into a Realtors home you would see that 9 times out of 10 the house is in perfect, or near-perfect condition while it is on the market. We take all our knowledge and experience and apply it to every renovation, remodeling project, and decorating choice we make. As a Realtor, everytime I do something to my home I think about whether or not what I am doing will add value. Sometimes, my husband gets frustrated with me because I won't let him create his video game room, and I won't let him paint the garage the colors of his favorite sports team. I am also ultra-diligent about keeping up on all home maintenance, i.e., I have the gutters cleaned 2x per year, chimney swept, house and deck powerwashed every spring, Windows washed interior and exterior 4x per year, all my landscaping is in perfect order, I don't have leaky faucets, a noisy heating system, etc. That diligence translates into a higher selling price. The average homeowner does not practice this kind of maintenance. Even more importantly, the average homeowner doesn't remodel with resale in mind. They remodel with their tastes in mind - which doesn't always equal what a buyer wants.
These were points that freakonomics didn't touch upon. In my opinion it is kind of like accussing a nutritionist for being in better shape, or healthier than their clients. Or, like saying that a personal trainer has such great abs, but his clients don't. We can only lead the horse to water, but we can't make them drink. Nor is it feasible for a seller to completely remodel their home when they put it on the market.
Also, Freakonomics didn't discuss that as Realtors we also have the advantage of being able to more wisely select a home to buy in the first place. And, when we select a home we are less emotional about it, because after all - this is our profession, and we put more weight into thoughts of re-sale during the purchase process in general.
While the home used to compare to a Realtors may have been a Comp in Size, year built, etc. I can guarantee that very few of the "comps" used in the Freakonomics article were comps when it came to condition and staging while on the market. (I see enough cluttered, dirty, smelly homes on a daily basis to know this to be the truth).
At the end of the day houses that are un-cluttered, clean, and in great shape sell for more money than similar homes that aren't.
I just want to say that you expressed concern that Realtors now a days just use the internet to sell and do little work for their commissions. First lets talk about the internet. The listings don't just appear on all these sites, we pay for them, and pay well out of our own pockets. Next we have to list each home by hand on each site unless there is syndication which still requires us to upload by hand several other smaller sites. I spend at least 15 hours a week check, uploading and responding to the online listings. Because we are online we get tire kickers and lots of them. We answer more e mail and telephone questions that ever before just because the information is there are people would like to know more. Yes, this does give us more exposure for our sellers but it is a lot more work than when a buyer would walk into the office, look at a book and purchase a home. We have to weed through those that are just curious which was not a problem before the internet.
Second, commissions. Say your home is listed for $300,000. The commission is 6% which is average. $18,000. is the commission. The home was sold through another agency at a 50/50 split. Now you have $9,000.00 The listing was referred to you by a co-worker in another state and you are paying 25% for the referral. You are now at $6750.00 The broker takes half if you are not a seasoned agent. You may or may not have a better split depending on the brokerage. You are now at $3375.00. We pay 8% to the national company if you we are affiliated. We are now at around $3105.00 Minus the expenses to keep your listing online and in front of all the potential buyers which most spend at least $40.00 a month. Now take from that the 10 months that your home has been on the market. We are now at $2705.00 Don't forget the fees to use the MLS which in RI is $30.00 a month and the fees to call ourselves a Realtor. We are now at $1905.00 This is not including the gas to take potential buyers to view your home. Would you work for $1905 not including gas for ten full months? Please, before thinking that someone is making a killing do the math. You would be surprised.
I do my best to make transactions effortless for my clients...researching the market, contracts, inspections, title work, meeting with repair persons, utility companies, appraisers, whatever it takes because I know my clients' time is valuable too. Most consumers don't know what truly goes on behind the scenes.
I don't believe that all agents are created equal. It's like any job, some are better than others. I also don't believe that everyone needs a Realtor. It's like any other task in life, if you can do it yourself I think you absolutely should. There truly are some great internet sites for FSBO's to sell their homes. I would encourage FSBO's to also consider working with agents that are representing prospective buyers. Approximately 90% of buyers today are working with an agent. It's an option that still allows you to sell your home with fewer expenses, keeps you in touch with a large pool of buyers and your contracts, title work, etc are still overseen by a professional.
I hope this provides a little better understanding of the financial responsibilities of agents and hope that you continue to have great success as a FSBO.
I understand the desire to be able to post a for-sale-by-owner listing on the MLS, and there are services that will do that for you for a fee. However, you have to remember what the MLS actually is:
It’s the Multiple Listing Service: a list of listings BY REALTORS FOR REALTORS.
It’s set up by Realtors, run by Realtors and paid for … by Realtors. We pay monthly and yearly dues and are governed by very strict guidelines.
In addition, if we want showcase listings on other sites like Realtor.com and Trulia, we pay for them. In the case of Realtor.com, we pay a lot.
thanks for the smile..I mean, laugh! I laughed out loud!!!
I wish you the best with the balance of the transaction and hope that you truly enjoy your new home.
Buyers can visit those homes at any time witohout disturbing home sellers. What a convenience to Sellers, they don't have to leave the house, they can show it when they are sleeping.............(by the way, this house got sold already!)
Can you do one on Buyer's now?
Real estate agents, pre-2006: "Now's the best time to buy! Your home will only go up in value! Real estate is an investment!"
Real estate agents, circa 2006: "Ohmigod you'd better buy now! Real estate prices double every 10 years! You can leverage your way to a fortune! A home is a magic money machine! Buy now or you'll be priced out forever!"
Real estate agents, now: "Man, what's with these idiot sellers? Who told these morons that the value of their home would keep going up?"
I couldn't have said it better myself. You bring an important subject matter to the front of agents minds in a most delightful way. I will pass this on to my agents and hope it sparks the interest and excitement that is seems to have created on this Trulia forum. I suggest that other brokers do the same.
Best of Luck.
John
PLEASE, worth your commission? All you do is take pictures of the house and post them on the internet. When I bought my house I found it not the realtor. All they wanted to show me was junk that they could make a double commission on the seller and the buyer. What you think your smarter than everyone else? Because you spent $300 on a month long course at the junior college to get a Real estate license. Your profession and real estate appraiser are the reason the banks and the economy are in trouble. OVER INFLATING THE PRICES OF HOMES. Just because one house in the neighborhood sold for X amount doesn't mean all the others are worth the same amount. All realtors do is look at comps. THIS WEB SITE DOES YOUR JOB FOR YOU!!!
ALMOST everything? Right. Almost everything.
The one thing I do disagree with is right at the beginning: "As I talk to a lot of REALTORS, they share with me things they’ve often wanted to say to sellers but never had the guts to do so. But deep inside they felt they really SHOULD have said something." As a Realtor, I'm not bashful about telling my clients any of those things. Otherwise I'm wasting my time when I don't have to. Speak up early, or spend hours, days, weeks, or more trying to overcome some of those barriers. Or working with clients who don't value the Realtor's time and efforts.
• Have the home staged by a licensed professional
• Pay for a professional photographer to go out and do an entire shoot, with over 200 pictures, virtual tours and so on.
• Hire a production crew to put together websites, virtual tours and the actual print materials we still use and that the client expects.
• Pay for the printed materials we use.
• Finally, we pay for premium exposure on the Internet. Sites such as Realtor.com and Trulia charge us to post featured listings … and it is NOT cheap, especially if you have a number of listings.
All in all, our advertising budget has gone UP, not down …
Here is an example:
http://www.4490glidden.com/
Cindy Keil
Realtor, CDPE
In this industry... we need real partners and a reputation that can back up backed up with integrity throughout all stages.
Cindy - I like you - I am a fan!!!
In this industry... we need real partners and a reputation that can back up backed up with integrity throughout all stages.
Cindy - I like you - I am a fan!!!
Dianne Stromfeld, New York, Past President, MLSLI.
http://www.homesaleschinohills.com/