Agents, would you take this listing?

Asked by Sally Grenier, Boulder, CO Sat Apr 30, 2011

I have a great opportunity for you! I received a floor call today from a man wanting to sell his house. It's a 3 bed, 2.5 bath, 2-story, 1580 SF home in beautiful Platteville, CO. Owner bought it 18 months ago at $150K, w/ 100% VA financing. A quick CMA shows he would be really lucky to get $125K. He wants me to list it for $165-170K. He knows he's underwater, but still wants to list it, and he knows it can only be a cash buyer. No hardship involved, so no short sale. Any takers?

P.S. Oh, and by the way...when he called my office, he only wanted to speak to a man. I only got him because all the guys in my office didn't answer their phones and our receptionist knows I answer mine.

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Answers

18
Phil Rotondo, Agent, Melbourne, FL
Sun May 1, 2011
Not every listing that you take can be 25% under market value and in excellent move-in condition. If your current listing inventory consists of all overpriced listings, then, yes you are shoveling doo-doo against the tide. But every now and then, it's not going to ruin your financial career if you take an overpriced listing. I've taken a few; and yes I had to get a reduction, but I eventually closed it and made something.....not much, but something.
Web Reference:  http://www.321property.com
2 votes
Mack McCoy, Agent, Seattle, WA
Sun May 1, 2011
Sean, we are in the customer service business, but we are also independent contractors, and we have an agreement with the Brokerage that floor calls come to us.

Also, I think we have to have caution, whether up-callers act strangely or not. I don't want to do a training for freaks trying to outsmart us, but Realtor.com has some excellent advice on agent safety.
1 vote
Melina Tomson, Agent, Salem, OR
Sun May 1, 2011
I wouldn't take it and actually walked away from a listing just like that last week. I don't have time for things I can't sell.
Web Reference:  http://www.tomsonburnham.com
1 vote
NextGEN Real…, Agent, Sherman Oaks, CA
Sun May 1, 2011
The caller surely doesn't value your time or market opinion and worst of all, only wants to deal with a man. I wouldn't waste one more minute with that potential client. It's hard enough to obtain short sale approval with a ready and willing seller, but having a client that clearly doesn't understand the process involved in obtaining a short pay approval and a complete lack of market knowledge, isn't worth committing any time to list their property.
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Sat Apr 30, 2011
uhmmm, let me think about this for a minute....
ok, done.........nope - wouldn't take it (but there ae agents who would0
1 vote
Sally Grenier, Agent, Boulder, CO
Sat Apr 30, 2011
Yes Bill...I was mostly asking just for fun. I'm continually amazed at what people want agents to do. I have politely declined taking the listing. Yes Mack, I'm annoyed by that too. In her defense...the receptionist was just doing as the client was asking (and probably didn't know any better). Thanks guys!
1 vote
Scott Hulen, , 64068
Fri Aug 19, 2011
NO! It damages my marketing plans for myself, and the brokerage I represent. This is along the same lines as doing short sales, no long term upside for my business plan. I'll let others handle this one.
0 votes
Melia and Ol…, Agent, Rancho Santa Fe, CA
Fri Aug 19, 2011
No, I doesn't make sense for the buyer or agent to put it on the market.
0 votes
Tom and Joan…, Agent, Boston, MA
Fri Aug 19, 2011
Sally:

I would not take that listing in a million years. If there is no equity and not bank how do you expect to get PAID? We want to help people, but we are not in the charity business. Protect your reputation and walk away. Best
0 votes
Annette Law…, Agent, Palm Harbor, FL
Fri Aug 19, 2011
The issue is not the price. What is lacking is MOTIVATION! If there is no need to sell, well, you know the rest of the story. Without a need based motivator, there is no pain that will compel change.

Yes, sexism is alive and well, but mostly to the detriment of our male counterparts. Over 50 to 1 citizens prefer female agents. However, who they choose to actually do business with reflects quite a different story.

Again, it's a business not a hobby.
0 votes
Kris Mager, Agent, Middletown, NJ
Thu Aug 18, 2011
Most cash buyers are looking for a deal, not to overpay on a property! It's a no win situation, and will be more stressful than profitable. I would spend the time that you would have to devote taking this listing trying to find someone that is realistic about selling their home!
0 votes
Shirley Kappa, Agent, Williamsburg, VA
Thu Aug 18, 2011
ABSOLUTELY NOT! I tell sellers like this that I'm too busy to market their overpriced property and wish them luck!
0 votes
Catherine "C…, Agent, Metuchen, NJ
Sun May 1, 2011
If the listing is located in an area that you do strongly specialize in then yes there could be some value to take the listing. There might be other reasons one would take an overpriced listing.
0 votes
Suz A, Agent, Longmont, CO
Sun May 1, 2011
Hello Sally,
No. This is a red flag client. If you can tell in the first seconds of talking with someone that respect is an issue, what chance is there for a business relationship?

No thanks.
Web Reference:  http://www.suzrealestate.com
0 votes
Sean Dougher…, Agent, Fort Collins, CO
Sat Apr 30, 2011
Sally, good call. I'm so tired of folks who don't understand what they can and cannot do. Worse, when they claim they know that they won't get what they want, but want to list anyway, it's always disconcerting when I say no, and then see another agent list it within a day or two. You'll see it listed soon.
As for Mack, I do have to say that we're in the customer service business. If the caller wants a specific type of Realtor, the receptionist should honor that request.
0 votes
allan erps,A…, Agent, Pearl River, NY
Sat Apr 30, 2011
I recently answered a Blog that only wanted a woman as her Realtor®. She politely emailed me her reasoning with a "no offense" scenario. As far as the Listing, you are correct in declining as your time is more valuable and no $$$ buyer is going to overpay for this home!
0 votes
Mack McCoy, Agent, Seattle, WA
Sat Apr 30, 2011
No, but I'd be a little peeved if reception was routing floor calls away from the up desk simply because the caller wanted to speak to a non-specific agent of particular gender.
0 votes
Bill Eckler, Agent, Venice, FL
Sat Apr 30, 2011
Sally,

The answer is obvious....if you have a bushel of one hundred dollar bills you want to dispose of taking this listing might be a good idea. On the other hand if common sense prevails, you stand little chance of meeting success and would be wasting time and money.

NEXT......

Bill
0 votes
It would be good practice for a new agent that would like hands on experience with listing a home.
Flag Sat Nov 9, 2013
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