http://sellingyourlistings.com/ For Sale signs are cute, but they don't pay the bills. That's what SOLD signs are for. In today's market, it takes far more than the 3P's to sell a home, but if we all commit to doing what it takes to sell our listings, we might just be able to turn this mess around! en-us http://sellingyourlistings.com/post/2716257/the-proper-care-feeding-of-sellers-from-contract-to-closing-the-favorit-est-tips- <p><img title="Favorite" src="http://activerain.com/image_store/uploads/2/9/4/7/9/ar132647444897492.jpg" height="307" alt="Favorite" width="300"></p> <p>In keeping with our tradition of posting the Favorit-est Tips after our How-To shows in the <a href="http://www.sellwithsoul.com/about/calendar">SWS Virtual Studio</a>, below are the Favorit-est Tips from yesterday's show: <em>The Proper Care &amp; Feeding of Sellers from Contract to Closing</em>.</p> <p>The show was about&nbsp;a listing agent's duties and responsibilities&nbsp;during the critical Contract-to-Closing period to keep everything on track and heading toward the closing table. We used my Listing-Under-Contract checklist (which you can find in <a href="http://sellwithsoul.com/lounges-a-forums/vip-lounge.html">my VIP Lounge</a>) to refer to, although interestingly, a few of the most favorite tips weren't even ON my checklist! (Thank you SWS Coach Deb Stephenson for adding your brilliance!)</p> <p>So, without further adoooooooo.... Here are the Favorit-est Tips as voted on by the live studio audience, in reverse order of Favorite-ness!</p> <p><strong>Fifth Most Favorit-est Tip</strong><br>Prepare the seller for the inspection by 1) asking them to vacate the home during the inspection so the buyers can begin emotionally moving into the home and 2) setting the expectation that the inspection may go badly so that if it does, they aren't shocked, and if it doesn't, they are pleasantly surprised.</p> <p><strong>Fourth Most Favorit-est Tip</strong><br>Put up your SALE PENDING sign fairly quickly after contract. This is great marketing for YOU and for the local real estate market. SOLD signs always breed more SOLD signs and that's a very good thing.</p> <p><strong>Third Most Favorit-est Tip</strong><br>Do a walk-thru with your seller before the buyer does his or her walk-thru. This gives you the opportunity to make sure the buyer won't find anything amiss and create a ruckus right before closing. Wish I could take credit for this one, but it was Coach Deb's.</p> <p><strong>Second Most Favorit-est Tip (seriously)</strong><br>When you pick up your sign and lockbox, take some toilet paper rolls with you to make sure there's TP in the bathrooms.&nbsp;Many sellers inexplicably take their half-used TP rolls with them and it's a drag for the buyer when they arrive with their&nbsp;moving truck... and there's no TP to be found. The buyer may never know it was you, but it's just good karma ;-] - Thanks, Deb, for this visual.</p> <p><em>And...</em></p> <p><strong>The MOST Favorit-est Tip...!</strong><br>Prepare for and attend the appraisal. Have good comps with you that support the price, as well as any&nbsp;that don't and be able to explain the lower ones. Also bring an itemized list of any repairs, improvements or features the home offers, with approximate costs. Don't annoy the appraiser with random chatter or get in his way, but do be there, be charming, and offer to help measure.</p> <p>So, there you have it! If you'd like to listen to the entire show, you can find it at Club SWS (<a href="http://www.clubsws.info">www.clubsws.info</a>) or at the SWS Bookstore (<a href="http://www.SWSStore.com">www.SWSStore.com</a>).</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Fri, 13 Jan 2012 12:12:16 -0800 http://sellingyourlistings.com/post/2716257/the-proper-care-feeding-of-sellers-from-contract-to-closing-the-favorit-est-tips- http://sellingyourlistings.com/post/2709138/the-proper-care-feeding-of-sellers-from-contract-to-closing-a-free-sws-teleseminar <p><img title="Free Teleseminar" src="http://activerain.com/image_store/uploads/8/2/8/0/5/ar132628429950828.jpg" height="525" alt="Free Teleseminar" width="350">Especially for Rookie Agents (but everyone is welcome), this teleseminar show is about what happens (or SHOULD happen) between the time you get your listing under contract (woo hoo!) through the day of closing (an even bigger WOO HOOOO!).&nbsp;</p> <p>The thing is... getting a listing under contract is nice, but it's sometimes the easiest part of the whole process. Today, buyers are nervous, lenders are fussy and your seller might not be tickled with his selling price, so holding the transaction together will require you to be on top of the dates and deadlines, and prepared to ward off problems before they become deal-breakers.</p> <p>On Thursday, January 12th, we'll discuss all these things a listing agent should be doing during the contract-to-closing phase, based off of the SWS Listing-Under-Contract Checklist.</p> <p>During the show we'll cover topics such as:</p> <ul> <li>What you need to do immediately following contract execution</li> <li>What you need to make sure your seller does immediately following contract execution</li> <li>How, why, when and with whom to follow up throughout the process</li> <li>Your role during the inspection period</li> <li>Proactive steps to take to head off problems before they arise</li> <li>What your responsibilities are prior to, during and after the closing</li> <li>And... whatever else we think of to tell you about!</li> </ul> <p>Sound like fun? If so, please mark your calendar and join us on January 12th!</p> <p><br>--------------------------------------------------------------------------------</p> <p><strong>THE DETAILS</strong><br>Date: Thursday, January 12th, 2012<br>Time: 8:00am Pacific / 9:00am Mountain / 10:00am Central / 11:00am Eastern&nbsp;&nbsp; <br>Duration: 60 - 75 minutes<br>Equipment Needed: A computer with a high-speed connection and speakers or a telephone.<br>Cost: Free, but you must register, below.&nbsp;</p> <p class="MsoNormal"><span><a href="http://www.sellwithsoul.com/seller-c2c">REGISTER FOR THE SHOW HERE</a></span></p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Wed, 11 Jan 2012 07:23:05 -0800 http://sellingyourlistings.com/post/2709138/the-proper-care-feeding-of-sellers-from-contract-to-closing-a-free-sws-teleseminar http://sellingyourlistings.com/post/575443/-i-m-the-best-listing-agent-i-know-are-you- <p>During the <a href="http://www.realestateradiousa.com/blog/2008/06/30/real-estate-radio-usa-episode-147/#more-11651">now-becoming-infamous Real Estate Radio USA interview</a> earlier this week, I made the comment "<strong><em>I'm the Best Listing Agent I Know</em></strong>." Arrogant, eh?<img title="proud" src="http://activerain.com/image_store/uploads/1/4/5/0/5/ar121499995750541.jpg" height="194" alt="proud" width="221"></p> <p>Not really. It's not as if I said "I'm the prettiest girl I know" or "I'm the smartest girl I know." It's more along the lines of "I'm the hardest worker I know." It's a choice.</p> <p>I choose to be a terrific listing agent. It's not a God-given skill or something I was lucky enough to be born with. It's a choice.</p> <p>I choose to spend time (and gas money) properly pricing my properties. I choose to have relationships with exceptional home stagers and responsive home improvement contractors. I choose to be respectfully upfront with my sellers as to what they need to do to help me get their homes sold. I choose to own a great camera with a wide-angle lens. I choose to write killer MLS descriptions and ensure that they are accurate. I choose to work for a company who offers a 7 day/week showing service and to pursue feedback from all showing agents. I choose to frequently update my seller on the competing market activity. I choose to build and maintain rapport with my sellers so that they trust me when I offer advice and recommendations. I choose to keep my brochure boxes full. I choose to be prepared for and attend my appraisals. I CHOOSE TO CARE MORE ABOUT THE CLIENTS I HAVE TODAY THAN THE CLIENTS I HOPE TO HAVE TOMORROW.</p> <p><strong>I'm a heckova listing agent. Are you?</strong>&nbsp;&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Wed, 02 Jul 2008 07:00:16 -0700 http://sellingyourlistings.com/post/575443/-i-m-the-best-listing-agent-i-know-are-you- http://sellingyourlistings.com/post/2641339/my-sign-is-prettier-than-your-sign- <p>I just got off the phone with one of my consulting clients. Poor guy. I nearly took his head off with my impassioned rant about the priorities of the real estate industry. He handled it well, I must say, although I could tell his patience with his trusted mentor (that would be me) was wearing thin. But I just couldn&rsquo;t help myself&hellip;<img title="For Sale Sign" src="http://activerain.com/image_store/uploads/3/7/3/2/7/ar132347400672373.jpg" height="288" alt="For Sale Sign" width="288"></p> <p>Nothing like a good rant to re-energize your day!</p> <p>We were talking about the pursuit of expired listings. My client has all sorts of&nbsp;ideas on how to approach expireds (I really hate that label, but shall use it here in the interest of clarity) with promises of doing a better job than the last guy, and getting the house SOLD.</p> <p>I innocently asked how he planned to do that. &ldquo;<em>Do what</em>?&rdquo; he asked. &ldquo;<em>Do a better job and get the house SOLD</em>,&rdquo; I answered.</p> <p>He seemed a little stumped by the question. Perhaps even confused as to why I asked it. So, I attempted to clarify.</p> <p>&ldquo;<em>What, specifically, are you going to do differently from the last guy to assure a different outcome? If you&rsquo;re going to tell a seller you can do better, what ARE you going to do better? I mean, you don&rsquo;t want to go in just saying &lsquo;My sign is prettier than HIS sign,&rsquo; do you?&rdquo;</em></p> <p>My client thought a moment and came back with &ldquo;<em>Well, I don&rsquo;t want to criticize the other agent and say that I&rsquo;m a better listing agent than he was &ndash; that would be rude</em>.&rdquo;</p> <p>And I agreed. It might be rude, even unprofessional.</p> <p>BUT&hellip; I disagree with all my heart that he shouldn&rsquo;t be able to say, with all sincerity, that &ldquo;<em>I am the best listing agent I know</em>.&rdquo; That&rsquo;s not arrogance and it should be the truth. Anyone who pursues the business of homeowners who want to sell their properties should feel, no, <strong>KNOW</strong> in their hearts and souls that they are the best thing that could ever happen to that homeowner. If they don&rsquo;t feel that way, they should not pursue his business.</p> <p>So, if you&rsquo;re pursuing expired listings &ndash; or any listings, really &ndash; what IS your differentiating factor? What makes you &ldquo;better&rdquo; than the agent who didn&rsquo;t sell the house, or anyone else the seller might be talking to?</p> <p>That&rsquo;s not a trick question! It&rsquo;s a question every agent should ask him or herself before venturing out the door to pursue business.</p> <p>So... HOW are you special? WHY should a seller hire you over the other guy or gal?</p> <p>(This is the subject of the final SWS Teleseminar show of the 2011 Season... "Are YOU the Best Real Estate Agent You Know?" Details and registration here: <a href="http://www.sellwithsoul.com/best-agent">www.sellwithsoul.com/best-agent</a>)</p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Mon, 12 Dec 2011 07:28:47 -0800 http://sellingyourlistings.com/post/2641339/my-sign-is-prettier-than-your-sign- http://sellingyourlistings.com/post/2564235/read-this-before-your-next-price-reduction-recommendation- <p><img title="Why?" src="http://activerain.com/image_store/uploads/5/0/9/9/0/ar131911880009905.jpg" height="413" alt="Why?" width="350"></p> <p>I have a friend who listed her house with one of the top agents in her area. They went on the market about two months ago, at the exact price the agent recommended and supported with his market analysis. Showings were brisk at first, then trickled off, as typically happens. Feedback has been generally positive, although the home is rather unique and simply not practical for many buyers,&nbsp;and the feedback has reflected that.</p> <p>A few weeks ago, out of the blue, the agent recommended a $50,000 price reduction. This caught my seller friend by surprise since the feedback she'd received never mentioned that pricing was an issue; most of the negative feedback centered on the unique features of the home that made it "not work" for the buyer. But no one, to her knowledge, had mentioned price as an obstacle. My friend asked the agent for an explanation of his recommendation, but no explanation cometh, the agent simply reiterated his recommendation that she reduce her price.</p> <p>My friend came to me for advice. I suggested&nbsp;she ask him&nbsp;the following questions as to the WHY of his recommendation:</p> <ol> <li>Has there been consistent feedback that we are overpriced? (If so, it has not been shared with us.)&nbsp;</li> <li>How is the overall market right now? Is <strong>anything</strong> in our price range selling? Is the market typically slower this time of year?</li> <li>If the market is not interested in our home at the current price,&nbsp;would your recommended&nbsp;price reduction&nbsp;change that?&nbsp;</li> <li>Will reducing the price by $50,000 overcome buyer's objections to the&nbsp;unique character of the home, or will&nbsp;buyers still expect a more traditional home?</li> <li>Are&nbsp;homes in your recommended price range getting more activity than&nbsp;homes in our current range?</li> </ol> <p><em>and the kicker...</em></p> <p>6.<strong> Has the market changed significantly since you recommended the price we listed at?&nbsp; </strong></p> <p>My friend is not categorically opposed to reducing her price if that's the right answer, or to withdraw the home from the market and wait for a better time to sell. But she wants (and deserves) information. A coherent explanation. Some evidence that her agent (who is supposed to be looking out for her best interests) put a little effort and thought into her situation -- and his recommendation.</p> <p>Contrary to what we like to believe, our sellers are not stupid and they aren't unreasonably stubborn. But when we recommend a list price, back it up with data, and then, like clockwork, push for&nbsp;a reduction to that price six weeks later without explanation or exploration of other solutions, home-sellers have every right to be frustrated with us and to question our credibility.&nbsp;To doubt our&nbsp;commitment to their best interests. Or perhaps, to reach the conclusion that&nbsp;we're just lazy.</p> <p>(My friend is thinking all these things about her agent and I can't blame her).</p> <p>The moral of the story... before you recommend a price reduction, make sure&nbsp;you have answers&nbsp;to all the questions YOU would ask&nbsp;if it were YOUR home on the market and your agent advised you to give up a chunk of your equity. DO your homework, not just to pacify the seller, but also to determine if, indeed, a price reduction is the right solution. Maybe it is, maybe it's not. But be a PROFESSIONAL real estate agent and find out.</p> <p>Oh, and it wouldn't hurt to price it right in the first place.</p> <p><strong>RELATED BLOGS<br></strong><a href="http://activerain.com/blogsview/1127487/when-your-listing-isn-t-selling-what-s-the-first-thing-to-fix-all-together-now-">When Your Listing Isn't Selling, What's the First Thing to Fix - All together now...</a><br><a href="http://activerain.com/blogsview/1130193/stop-before-you-reduce-the-price-">STOP! Before&nbsp;You Reduce the Price!</a><br><a href="http://realtytimes.com/rtpages/20091130_price.htm">If Price is All That Matters, What Do They Need Us For?</a></p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Fri, 21 Oct 2011 08:22:39 -0700 http://sellingyourlistings.com/post/2564235/read-this-before-your-next-price-reduction-recommendation- http://sellingyourlistings.com/post/2592832/the-proper-care-feeding-of-sellers-from-listing-to-contract-a-free-sws-teleseminar <p><img title="Free Teleseminar" src="http://activerain.com/image_store/uploads/8/0/1/3/0/ar132070395003108.jpg" height="525" alt="Free Teleseminar" width="350">Especially for Rookie Agents (but everyone is welcome), this teleseminar show is about what happens (or SHOULD happen) between the time you get your new seller client's signature on the listing agreement and that glorious day you go under contract.</p> <p>Contrary to what some seem to believe, there are a LOT of things that a listing agent can (and should) do once the sign goes in the yard, way above and beyond the 3P's (Put a sign in the yard, Put it in the MLS, Pray). Things like communicating with the seller every day during the first week and on a regular basis thereafter. Making sure the seller approves your MLS listing. Keeping up with market activity in the area and ensuring the seller knows you are. Checking in on your listing in person every week or so. Verifying with the HOA what the seller told you about it. Soliciting and communicating showing feedback. Updating your photos when the season changes. And so much more.</p> <p>You do these things not only because they make your seller happy (which is certainly not an insignificant reason!) but also because the more in touch with your listings you are, the more likely they're going to sell, and when your listings sell, everyone wins.&nbsp;</p> <p>So, on November 10th, we'll discuss all these things a listing agent should be doing during the listing-to-contract phase, based off of Jennifer's New-Listing Checklist which you can review&nbsp;at the SWS VIP Lounge here: <a href="http://www.SellwithSoul.com/vip_lounge.html">www.SellwithSoul.com/vip_lounge.html</a>. &nbsp;</p> <p>During the show we'll cover topics such as:</p> <ul> <li>What you need to do right away once you have a signed listing agreement</li> <li>What you need to make sure your seller does prior to going on the market</li> <li>What you need to do one week, two weeks, three weeks (and beyond) after the list date</li> <li>What sorts of things (and when) to communicate to your seller throughout the process</li> <li>How to communicate feedback</li> <li>Proactive steps to take to head off problems before they arise</li> <li>And... whatever else we think of to tell you about!</li> </ul> <p>Sound like fun? If so, please mark your calendar and join us on November 10th!</p> <p><br>--------------------------------------------------------------------------------</p> <p><strong>THE DETAILS</strong><br>Date: Thursday, November 10th, 2011<br>Time: 8:00am Pacific / 9:00am Mountain / 10:00am Central / 11:00am Eastern <br>Duration: 60 - 75 minutes<br>Equipment Needed: A computer with a high-speed connection and speakers or a telephone.<br>Cost: Free, but you must register, below.&nbsp;</p> <p><a href="http://www.sellwithsoul.com/seller-l2c"><strong>REGISTER FOR THE SHOW HERE!</strong><br></a></p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Wed, 09 Nov 2011 07:28:05 -0800 http://sellingyourlistings.com/post/2592832/the-proper-care-feeding-of-sellers-from-listing-to-contract-a-free-sws-teleseminar http://sellingyourlistings.com/post/2568348/how-to-recommend-a-price-reduction-without-risking-your-credibility-or-upsetting-your-seller <p><img title="Price Reduction" src="http://activerain.com/image_store/uploads/9/9/8/7/6/ar132009071067899.jpg" height="311" alt="Price Reduction" width="350"></p> <p>Related to a recent&nbsp;blog&nbsp;entitled "<a href="http://activerain.com/blogsview/2564235/read-this-before-your-next-price-reduction-recommendation-">READ THIS Before Your Next Price Reduction Recommendation</a>, today's post is about HOW to recommend a price reduction if it comes to that without blowing your credibility, or, frankly, ticking off your seller.</p> <p>In a perfect world (and why not strive for that?), a price reduction is rarely necessary. In this perfect world, real estate agents price, prepare,&nbsp;and&nbsp;present&nbsp;their properties properly (I love alliteration) and therefore homes sell in a reasonable amount of time without the need for a&nbsp;price adjustment. Agents don't capitulate to the demands of sellers to overprice a home, nor do they "buy" listings with inflated estimates of market value, planning&nbsp;to push for a price reduction six weeks later.</p> <p>Okay, so it's not a perfect world and L'il Miss Smarty-Pantz JAH didn't always score a 10 on the beam either when it came to pricing her listings&nbsp;for sale. Pricing is an art, not a science; the "right price" is a constantly moving target, and can be affected by many factors outside our control. So, it happens. Sometimes a price adjustment is the right thing to do.</p> <p>So, what might be some ways to approach the price reduction conversation with your seller without jeopardizing your credibility (hey, YOU suggested or agreed to the price in the first place!) or otherwise creating unnecessary drama and angst between the two of you?</p> <p>I have a few suggestions, but would like to hear yours!</p> <p>1. Prepare the seller ahead of time that a price adjustment may be required if the market doesn't respond as favorably to the home as we hope it will. But do this carefully, not with a pre-printed price adjustment form or with a snotty attitude of "<em>Well, we'll TRY it your way if you insist, but BE PREPARED to reduce the price</em>," but rather as if you have just as much to lose as the seller does. In other words, "as if" you're on the seller's team... which you are, right!?</p> <p>2.&nbsp;If you recommended (or agreed to) a price believing with all your heart that you were in the ballpark, but discover that, um, you weren't, <strong>take the blame</strong>. Admit that you were wrong and that you're very sorry you got the seller's hopes up. Perhaps something like:&nbsp; "<em>Bob and Sue, I blew it. I really thought your house was nice enough to overcome XXX, but I was wrong. I'm glad we gave it a try, but I do think we're going to have to reduce the price significantly. Let me tell you what I'm thinking</em>..."</p> <p>3. As pontificated about&nbsp;in the <a href="http://activerain.com/blogsview/2564235/read-this-before-your-next-price-reduction-recommendation-">original blog</a>, it's&nbsp;best NOT to lead with a price reduction as your primary solution, for several reasons. One of those reasons is that&nbsp;if you are able to suggest&nbsp;alternatives to a price adjustment&nbsp;and the seller rejects your suggestions (e.g. stage the home, replace the carpet, mow the lawn, etc.), then you can feel much better about recommending a price reduction because it's actually the seller making the choice to <strong>reduce</strong> instead of <strong>fix or improve.</strong></p> <p>4. Related to #1, when a seller wants to push the price beyond your comfort level and if he's not too&nbsp;far removed from reality,&nbsp;agree to try his price for a week to ten days, no more. Don't&nbsp;get snotty about it because the fact is,&nbsp;you don't have a crystal ball; maybe the market will respond more positively than you expect! Say something like this:&nbsp;"<em>Okay, let's try it for a week or so. It's a bit higher than I'd like, but I don't want to give away your money if I'm wrong. If we aren't getting the activity we need or if the feedback indicates the price is high, we'll reduce it to $XXX,XXX, deal?</em>"</p> <p>So... there are some suggestions that worked for me... any you'd like to share with the class?</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Tue, 01 Nov 2011 07:51:59 -0700 http://sellingyourlistings.com/post/2568348/how-to-recommend-a-price-reduction-without-risking-your-credibility-or-upsetting-your-seller http://sellingyourlistings.com/post/1138914/okay-miss-smarty-pants-how-do-you-get-your-sellers-on-board-to-get-their-home-ready-for-market- <p>...and fun was had by all in this week's debate over pricing versus condition versus pricing AND condition. Did you miss it? It's good stuff - check it out at: <a href="http://activerain.com/blogsview/1132322/any-idiot-can-give-their-house-away-if-price-is-all-that-matters-what-do-they-need-us-for-">Any Idiot Can Give Their House Away</a>...</p> <p><img title="living room" src="http://activerain.com/image_store/uploads/1/0/5/1/6/ar124662287461501.jpg" height="225" alt="living room" width="300">In the 150+ comments, the question was raised - "<em>So, how do you convince a seller to put some effort into getting his or her house ready for market</em>?" I'd made the claim that at least 90% of my sellers hire my stager and my handyman and almost all spend at least $1000 (of their own money!) prior to going on the market.</p> <p>Am I just lucky to have intelligent and motivated sellers? Maybe. But I'll give myself more credit than that, although I have to say that every single seller prospect I've spoken with in the last 18 months has brought up the topic of "<em>What do I need to do to the house to get top dollar?"</em> They bring it up first! I spoke with a potential seller just yesterday who doesn't want to sell til next spring, but wants to get started now on home improvement projects! Maybe I am lucky - is this NOT typical of sellers in other markets?</p> <p>That said, here are a few ways to help a seller see the light, and then do something about it.</p> <p>First, go in with the assumption that the seller wants to know what it's going to take to get top dollar. Don't pussy-foot around the topic, although it's best if you're polite about it, of course! Like I said, ALL my sellers ask me first, so maybe there's some vibe I send out that inspires them to do so, I don't know. But I will say that if a seller didn't seem interested in preparing his home for market, I probably wouldn't be interested in listing his home. I don't say that to be snotty or arrogant - it's just a fact. I don't want a listing I'm not proud of.</p> <p><img title="handy" src="http://activerain.com/image_store/uploads/8/4/8/9/8/ar124662304789848.jpg" height="192" alt="handy" width="200">By far the best way to get your sellers to clean up, fix-up and decorate-up is to help them do it. No, you don't have to do it yourself, although I've certainly rolled up my sleeves once or twice or a dozen times. By "help" I mean that you have the human resources on call to Get the Jobs Done. Contractors you know and trust... who know, trust and love you. How anyone sells real estate without a good handyman, stager and cleaning person on board is a mystery to me. When you can walk into a seller's home and confidently say "<em>Yes, that needs to be fixed - we'll put it on the Bob-List</em>," or "<em>Yep, let's get Bob over here to give us an estimate on that</em>," or "<em>No big deal, Bob can fix that</em>," you're golden. Not only are you the hero, but you'll also get yourself a sellable listing.</p> <p>What I see most agents doing (if they do anything at all) is to give the seller a list of things that need to be done, smile sweetly and leave them to it. Well, that's a recipe for failure. Our sellers are busy people and probably don't know a good handyman, painter, stager or cleaning crew. They'll open up the yellow pages, make a few calls and throw up their hands in despair. I'd do the same thing; in fact, I have when I was selling an out-of-state property and didn't know who to call myself. My Realtor didn't help; I didn't get the work done... and guess what? The house didn't sell. Bummer for us both.</p> <p>Here's how I handle it.</p> <p><strong>Seller:</strong> "<em>Tell me what I need to do to get ready for market</em>."</p> <p><strong>Smarty Pants JA:</strong> "<em>I see a lot of maintenance and repair issues that really should be dealt with before we go on the market. Let's get Bob over here to give us an estimate. Are you around this Saturday</em>?"</p> <p>I use the same approach when discussing Staging. Frankly, I suck at decorating and furniture arrangement, but I know bad d&eacute;cor and awkward rooms when I see them. So, I just say "<em>I'm a terrible decorator, but my stager, Geri, is the most wonderful woman you'll ever meet. Give her a call and set up a time to meet. I think she charges $250 for a 3-hour consultation. I promise you - it'll be the best $250 you ever spent</em>." (<a href="http://cbs4denver.com/recession/home.staging.sales.2.932147.html">Here's a news clip of me &amp; Geri in action on one of my listings</a>)</p> <p>And I believe that. With all my heart. And that's another part of the story - YOU must believe that the first impression and condition and d&eacute;cor matter... and you must trust your resources. If you don't, you'll never be able to sell the concept. I can "sell" staging all day long because I have a great stager and I know it works. I can whole-heartedly bring Bob into my clients' lives because I know, beyond a shadow of a doubt, that he'll make me proud.</p> <p>If you don't have a Bob or a Geri, make it among your top priorities to find them. Finding contractor resources is a topic for a different day, but for this day, just know how important it is to your business. I credit Bob and Geri for at least half of my paychecks thru the years. Seriously.</p> <p>Hope this helps.</p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Fri, 03 Jul 2009 07:18:57 -0700 http://sellingyourlistings.com/post/1138914/okay-miss-smarty-pants-how-do-you-get-your-sellers-on-board-to-get-their-home-ready-for-market- http://sellingyourlistings.com/post/1329777/pricing-historic-homes-in-urban-neighborhoods-step-four-analyzing-the-solds-dealing-with-the-outliers <p><img title="Denver Bungalow" src="http://activerain.com/image_store/uploads/6/6/6/3/8/ar125786186283666.JPG" height="225" alt="Denver Bungalow" width="300"></p> <p>Thanks to those who are sticking thru this series with me! While I think that the process of properly pricing homes is fascinating stuff,&nbsp;I know it's not nearly as sexy as other topics! (Although SELLING your properly priced listing is very sexy, indeed.)</p> <p>In the previous installments...</p> <p><a href="http://activerain.com/blogsview/1311063/pricing-historic-homes-in-urban-markets-step-one-make-like-a-boy-scout-" title="2nd Blog in the Series">Introduction<br>Step One</a>&nbsp;- Before you price, prepare!<br><a href="http://activerain.com/blogsview/1319058/pricing-historic-homes-in-urban-market-step-two-preview-preview-preview-">Step Two</a>&nbsp;- Preview, preview, preview<br><a href="http://activerain.com/blogsview/1324834/playing-detective-pricing-historic-homes-in-urban-neighborhoods-step-3">Step Three</a> - Play detective</p> <p>...we talked about how to effectively <strong>preview the competition</strong> to figure out where your potential listing falls into the scheme of things.&nbsp; So, what about the <strong>SOLDs</strong>?</p> <p>The problem with using <strong>SOLDs</strong> in your market analysis is, unless you've been a previewing mad(wo)man over the last eight months, you probably haven't seen the inside of the properties, and now it's too late. So you have to go off the MLS description - a very risky proposition!</p> <p>But we'll do our best.</p> <p>Print off all the <strong>SOLDs</strong> that seem to be comparable, even if they're much higher or lower than your assumption of the market value of "your" listing. Drive by all of them! <strong>Pay special attention to the outliers</strong> - the ones that seem to have sold way out of whack to the rest of the market, or whose Days on Market statistic is unusually low or high.</p> <p>There's a good chance your drive-by will reveal the reason for the out-of-line price or DOM. Perhaps there's a commercial building next door, behind&nbsp;or across the street. Or, common in Denver, a corner lot that doesn't have a private back yard, or any back yard at all. Maybe it's a pop-top done wrong and doesn't fit in with the neighborhood. Busy street with a bus stop in the front yard? &nbsp;</p> <p>Or conversely, you might see that it has a stellar location with an extra-large lot, a mountain view, or around the corner (at a suitable distance) from a popular coffee shop.</p> <p>If the reason for the outlying price and/or DOM isn't obvious from your drive-by,&nbsp;go line-by line through the MLS listing.&nbsp;Is it missing a garage in a market that expects garages? No basement? One bathroom? Obviously, if the interior photos show that it needs work, that's relevant. Check the showing instructions to see if there are any obvious limitations on access.</p> <p>If all else fails, and you really feel a particular house is a good comparable, call the listing agent. Hopefully they'll be helpful in helping you understand why the house sold at the price it did. Or, maybe not. But give it a try.</p> <p>It really is the outliers that give you the most grief when looking at the <strong>SOLDs</strong>. There probably are some sold listings that fall right in line with what you're thinking the price of your listing ought to be, but the ones that don't give you fits. The more research you do on these outliers will not only make your CMA stronger, but will give you an air of confidence when going through your CMA with a seller.</p> <p><strong></strong>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Tue, 10 Nov 2009 08:06:00 -0800 http://sellingyourlistings.com/post/1329777/pricing-historic-homes-in-urban-neighborhoods-step-four-analyzing-the-solds-dealing-with-the-outliers http://sellingyourlistings.com/post/1311063/pricing-historic-homes-in-urban-markets-step-one-make-like-a-boy-scout- <p>Earlier this week (or maybe last week?) I promised to do a little series with tips on how to properly price historic homes in urban markets. <a href="http://activerain.com/blogsview/1302033/adventures-in-pricing-historic-homes-in-urban-neighborhoods" title="Pricing Historic Homes">Here's where I promised that</a> - you might want to read it first.</p> <p>Got distracted by conversations &lsquo;bout <a href="http://activerain.com/blogsview/1307192/-real-estate-is-a-relationship-business-not-exactly-a-rant-">Real Estate Reality Shows</a>, but here I am again, back to the more mundane issues of our daily grind... pricing homes to sell. <em><strong>Yawn</strong></em>. (I say that a little sarcastically; I totally love this <img title="Jennifer's Old House" src="http://activerain.com/image_store/uploads/9/6/1/7/4/ar125690127547169.jpg" height="242" alt="Jennifer's Old House" width="400">stuff).</p> <p>Pricing historic homes in urban markets is a bit (a lot?) more time-consuming than pricing newer homes in planned developments. But, at least to my way of thinking, it's a whole lot more fun! Hope you think so, too...</p> <p><strong>Step One is to Drive by the Home</strong>. Never, ever, ever begin the pricing process until you've at least driven by the subject property. You need to have an accurate mental picture of the home and its general location on the planet in order to take the next step. When you drive by, be sure to look for any locational challenges such as nearby railroad tracks, overhead high-tension power lines, undesirable neighbors (either commercial or residential) or obvious parking issues. If the home has an alley, drive through it to see what the back of the house overlooks.</p> <p>Very few older urban homes are in a perfect location; almost all have some locational "amenity" that buyers will object to. You need to be aware of any such objections upfront. On the other hand, if the subject property IS in a perfect location, that's something you need to know as well, because most of the comparables you'll be using won't be.</p> <p>While we're on the topic, it's far better if you can get inside the house before you prepare your CMA. I usually handle this by doing a 2-step listing presentation - the first being an information-gathering/rapport-building meeting and the second focusing on the current market - i.e. pricing. (Actually, I do a three-step listing presentation, but I'll talk about that later).</p> <p>That said, whether you do a one-step, two-step or even three-step listing presentation, never meet face2face with a seller without first, driving by the house, and second, perusing the relevant market data online. You need to be at least conversational about the local market, even if you haven't done your detailed research yet. Remember, the general public thinks all we do all day is drive around and look at houses, so if you stutter, stammer and hedge when the seller asks you about his neighborhood's market activity during your first meeting, he'll certainly doubt your professionalism and expertise. &nbsp;Being able to casually toss out a few neighborhood statistics or hyper-local market factoids will do wonders for your confidence and credibility.</p> <p>If there are any homes for sale or any that have recently sold within one block of the seller's home, know the details of the listings or sales, even if they aren't comparable. Your seller knows all about them and he'll&nbsp;expect you to as well. &nbsp;</p> <p>Homeowners in urban markets tend to be pretty enamored with their neighborhood and will expect their real estate agent to be, too. So, be as prepared as you can, as early as you can.</p> <p><strong><a href="http://activerain.com/blogsview/1319058/pricing-historic-homes-in-urban-market-step-two-preview-preview-preview-">Next Time - Step Two - Gentlemen (and ladies), Start Your Research!</a></strong></p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Fri, 30 Oct 2009 06:22:17 -0700 http://sellingyourlistings.com/post/1311063/pricing-historic-homes-in-urban-markets-step-one-make-like-a-boy-scout- http://sellingyourlistings.com/post/1302033/adventures-in-pricing-historic-homes-in-urban-neighborhoods <p>A few months ago (sheesh, almost six months already!) I stopped actively selling real estate. Oh, not to worry, I still keep my fingers in the pie and my toes in the water of the Denver real estate market, but I don't actually list or sell properties in my own name. However, being the control freak that I am, anyone who gets a referral from me can count on lots of - <em>ahem</em> - help from me, especially if they're working with someone from my precious Sphere of Influence. I'm sure my - <em>ahem</em> - help is very much appreciated.</p> <p>Anyway, I recently referred a sweeeeet Charming Old Denver listing to a fellow SWS'er - Mary Beth Bonacci. It's in one of Denver's many historic neighborhoods and was built in 1908. If you're fortunate enough to work in charming old neighborhoods, you know how challenging it can be to accurately price these homes. After 100 years (give or take a dozen) of renovations - not only of the subject property, but also of the surrounding neighbors, the influx of infill development, changes to perceived trendiness "boundaries," the comings and goings of neighborhood amenities, not to mention school district nuances and zoning codes... you can pretty much bet that there ain't another house just like the one you're trying to <img title="Denver Tudors" src="http://activerain.com/image_store/uploads/1/3/0/8/3/ar125647196238031.JPG" height="225" alt="Denver Tudors" width="300">price.</p> <p>Oh, sure, on paper, there are probably dozens. After all, builders weren't much more creative back then than they are today. Drive down a street in Denver's Washington Park and you'll see Bungalow after Bungalow built in 1927 - the tract homes of the 20's. On the next block, you might see Tudor after Tudor built in 1935 - the tract home of the 30's. Similar square footages, similar lot sizes, the same existence of or lack of a basement...</p> <p>And of course, all the MLS descriptions of your comparables proclaim the homes to be <em>Renovated with Pottery Barn Flair</em>! Or to have a <em>Gourmet Custom Kitchen with Stainless Appliances &amp; Granite Counters</em>! Oh, and in a <em>Perfect Location</em>, too.</p> <p>But I digress.</p> <p>I decided Mary Beth needed my help pricing the sweeeet listing I referred to her. And she graciously agreed to let me - <em>ahem</em> - help.</p> <p>Actually, we had a great time. &lsquo;Specially me - since I'd been out of the loop a few months, it was a bit of a novelty to get out there in the trenches and exercise my pricing expertise again.</p> <p>But, as it usually does, it amazed me that many agents price simply from what the seller tells them about their home and what the MLS data tells them about the market. In other words, they have a telephone conversation with the seller; spend an hour in front of the computer and voila! They create a "professional" CMA and proudly present it to their seller prospect as gospel.</p> <p>And proceed to the market with an improperly priced home...</p> <p>Perhaps this strategy works just fine in a newer tract home development. But in a historic neighborhood? No way.</p> <p><a href="http://activerain.com/blogsview/1311063/pricing-historic-homes-in-urban-markets-step-one-don-t-wing-it-">Stay tuned for some hints &amp; tips</a> on pricing urban homes in historic neighborhoods.... I freakin' love this stuff...</p> <p>&nbsp;</p> <p><strong></strong>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Sun, 25 Oct 2009 07:03:52 -0700 http://sellingyourlistings.com/post/1302033/adventures-in-pricing-historic-homes-in-urban-neighborhoods http://sellingyourlistings.com/post/1299289/ten-ways-to-show-your-seller-you-don-t-care <p>Now that the listing agreement is signed and your FOR SALE sign is in the yard, you're done, right? Onto the next <span>victim</span> prospect to WOW with your fancy listing presentation and 132-point marketing plan! Of course, most of those 132 points are pretty much fluff &amp; nonsense, but by the time you've overwhelmed the seller with your promises of Exceptional Service and Total Commitment, he probably won't notice.</p> <p><img title="Salesman" src="http://activerain.com/image_store/uploads/4/4/8/5/0/ar125629877105844.jpg" height="323" alt="Salesman" width="100">No, he probably WON'T notice at the time, but&nbsp;<a href="http://activerain.com/blogsview/1251650/even-if-they-don-t-complain-sellers-notice">he'll certainly notice later</a>. The good news is that by&nbsp;then it's too late! He's committed to <span>stuck with</span> you! And you'll be damned if you'll let him out of your listing agreement after you've spent ALL THAT MONEY and ALL THAT TIME on his listing! Besides, he probably won't have the guts to even ask (whew!).</p> <p><strong>Want to Show Your Seller How Much You (Don't) Care?</strong></p> <p>It's easy! Just follow these simple steps...</p> <p>1.&nbsp; Don't send your seller a copy of the MLS listing entry to get his feedback.</p> <p>2.&nbsp; Don't&nbsp;let him know&nbsp;when his house officially goes&nbsp;"on the market."</p> <p>3.&nbsp; Don't offer to do an open house, and <a href="http://activerain.com/blogsview/469380/no-open-houses-are-not-a-waste-of-time-">be sure to argue with him if he asks you to.</a></p> <p>4.&nbsp; Don't call the seller after your open house with feedback.</p> <p>5.&nbsp; Don't call the seller after you show his house with feedback.</p> <p>6.&nbsp; Don't call after the first few showings just to check in.</p> <p>7.&nbsp; Don't monitor showings, but the next time you talk,&nbsp;ask "Have you had any showings lately?"</p> <p>8.&nbsp; Put up a brochure box, but never fill it (or let it stay empty after the first batch is gone).</p> <p>9.&nbsp; Don't send the seller copies of your advertising.</p> <p>10.&nbsp; Don't contact the seller at all until it's time to ask for price reduction or to extend the listing.</p> <p>If you follow these simple instructions for each and every one of your listings, you will be assured a long, glorious career of <a href="http://activerain.com/blogsview/1018263/which-is-more-important-to-you-serving-your-current-clients-or-pursuing-your-future-ones-">prospecting, prospecting, prospecting</a> to keep that pipeline filled! You'll never have to worry about repeat or referral business distracting you from your&nbsp;all-important&nbsp;prospecting schedule...</p> <p><strong>RELATED BLOGS<br></strong><a href="http://activerain.com/blogsview/1251687/sixteen-ways-to-keep-your-seller-happy-with-you">Sixteen Ways to Keep Your Seller Happy with You</a><br><a href="http://activerain.com/blogsview/575443/-i-m-the-best-listing-agent-i-know-are-you-">I'm the Best Listing Agent I Know</a><br><a href="http://activerain.com/blogsview/593914/y-think-your-current-clients-are-talking-about-their-real-estate-agent-uh-yeah-">Y'think Your Clients Are Talking About Their Real Estate Agent</a>?</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Fri, 23 Oct 2009 06:54:42 -0700 http://sellingyourlistings.com/post/1299289/ten-ways-to-show-your-seller-you-don-t-care http://sellingyourlistings.com/post/1132322/any-idiot-can-give-their-house-away-if-price-is-all-that-matters-what-do-they-need-us-for- <p>This is yet another follow-up to the topic of "<strong><em>Is Price Always the Best Answer to a Non-Selling Listing</em></strong>?" that I started last week. You can read more <a href="http://activerain.com/blogsview/1127487/when-your-listing-isn-t-selling-what-s-the-first-thing-to-fix-all-together-now-">HERE</a> and <a href="http://activerain.com/blogsview/1130193/stop-before-you-reduce-the-price-">HERE.</a></p> <p>Real estate agents are quite fond of the philosophy that&nbsp;"Price conquers all,"&nbsp;meaning that if you price a listing low enough, it will sell regardless of the&nbsp;challenges the property presents.</p> <p>Fair enough.</p> <p>But I must ask. <strong>So what</strong>? Is that our job as professional real estate agents to simply recommend a price low enough that any piece of junk will sell?</p> <p>Or, rather, is it to help our sellers get the highest possible price in the shortest possible time, whatever a realistic&nbsp;price and time may be? If our job is to&nbsp;simply&nbsp;sell it fast, at any price, well, shoot, just about any idiot can give their property away! Isn't that why&nbsp;homesellers hire us in the first place, to do a better job for them than they can do for themselves?</p> <p>Real estate agents are always bragging about their listing expertise and defending their commissions by claiming they MORE THAN EARN THEIR FEE. Uh, well, I have to disagree if the only solution we offer our sellers is to price aggressively. There ARE other things a seller can do to maximize his sales price, and it's our job to 1) know what those things are, and 2) be willing to share those secrets with a seller and 3) help the seller accomplish those things. (and those were the topics of the previous blogs linked to above)</p> <p>What if you went to your doctor with a pain in your leg and the only solution he offered was to cut the offending appendage&nbsp;off? Yes, that would cure the pain in your leg, but maybe there's a better way that involves a little more effort on his part (and yours). Or if your plumber simply removed the toilet that wasn't flushing instead of figuring out how to repair it?</p> <p>Of course, if I request that the doctor amputate my leg, or that the plumber tear out my toilet, or that my Realtor simply give my house away, well, then, they have my blessing. But in most cases, <strong>c'mon</strong>, our clients deserve a little more effort and expertise than that, don't they?</p> <p>I'm not sayin' that price isn't important - of course it is. But if we keep preaching that "Price is the ANSWER!" to the exclusion of any other effort on our part, we may end up preaching ourselves out of a job...deservedly so, I might add.</p> <p>&nbsp;</p> <p><a href="http://www.sellwithsoul.com/sws-referral-network.html" title="Refer with Confidence!"><img title="refer" src="http://farm3.static.flickr.com/2460/3670864841_7027cca15a_m.jpg" height="80" alt="refer" width="240"></a>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Mon, 29 Jun 2009 06:41:42 -0700 http://sellingyourlistings.com/post/1132322/any-idiot-can-give-their-house-away-if-price-is-all-that-matters-what-do-they-need-us-for- http://sellingyourlistings.com/post/2462956/negotiating-with-soul-the-favorit-est-tips- <p><img title="Negotiate" src="http://activerain.com/image_store/uploads/6/8/2/5/6/ar131375624265286.JPG" height="491" alt="Negotiate" width="350"></p> <p>Yesterday, we did a teleseminar show in the <a href="http://www.sellwithsoul.com/about/calendar">SWS Virtual Studio</a> about negotiating - specifically, negotiating on behalf of our buyers and sellers (as opposed to any sort of fee or commission negotiation). I was joined in the studio by <a href="http://www.realliving.com/Blake-Farley-Real-Estate-Agent/default.aspx">Blake Farley</a>, from Silver City, New Mexico and from the positive feedback I received on her presentation and brilliance, I'm guessing you'll be seeing her on future shows - <strong>GREAT JOB, Blake</strong>!</p> <p>The format of the show was that Blake and I took turns sharing our top ten favorite tips and strategies for keeping negotiations on track and civil... and, oh yeah, maximizing the likelihood that our client gets what he wants without any unnecessary drama, chaos or angst. At the end of the show, I asked the audience to tell me what their favorite tip(s) of the day was/were, and here were the results:</p> <p><strong>Favorit-est Tip #1</strong>: When negotiations get hot and heavy, withdraw. Dead silence from your side. Don't tell the other agent you're "thinking about it" or going to "sleep on it," just stop all communication until the next day. Very unsettling to the other side, and keeps your client from getting carried away by the emotion of the negotiation.</p> <p><strong>Favorite-est Tip #2</strong>: Never believe anyone when they say "This is our best offer" or "This is our bottom line," and related, never let the deal die on your side. No one knows what their best offer or bottom line is until they've either signed an agreement, or rejected one. When the other agent presents a counter-offer to you and tells you "this is the best we can do," pay no attention. If your client still wants the house (or still wants to sell), counter back. More often than not, the negotiation will continue beyond the previously stated "best" or "bottom."</p> <p><strong>Favorit-est Tip #3:</strong>&nbsp;Related to 2, never ask your buyer or seller for their bottom line or highest-and-best. If you do, you&nbsp;force them to commit to a figure and they might be uncomfortable&nbsp;down the road if they're willing&nbsp;to go higher or lower.&nbsp;A side benefit to this strategy is that you won't be accused of spilling the beans to the other side if, by chance, the offer or counter comes in at the exact figure they shared with you. If a buyer or seller&nbsp;tells you what their highest-and-best or bottom line is, act as if you didn't hear them ;-]</p> <p><strong>Favorit-est Tip #4</strong>: Get everything in writing - no oral negotiating. When agreements are reached over the phone,&nbsp;something always comes up when it's time to put the agreement on paper, creating unnecessary drama. It's easy enough today to just "write it up," and keeps everyone on the same page, so to speak.</p> <p>(Tied for)<strong> Favorit-est Tips #5, 6 &amp; 7</strong>: (Almost) always counter an offer, even on technicalities to keep the buyer from feeling he could have/should have offered less; as the listing agent, don't remind the buyer's agent&nbsp;of contingency deadlines (to protect your seller's right to retain earnest money); and always remember whom you represent, which helps you be a stronger negotiator and not make an idiot out of yourself with your own client!</p> <p>Other tips from the show:</p> <ul> <li>Make the offer price/counter price "attractive" to the other side by rounding up or down (e.g. $279,900 versus $280,000)</li> <li>When countering, use positive statements when possible - e.g. instead of "No termite inspection," say "Buyer to pay for termite inspection."</li> <li>Realize that you can say NO - and that the other side sometimes fully expects you to.</li> <li>Set expectations with your clients BEFORE you get to the offer stage (e.g. market conditions, communication, etc.)</li> <li>Negotiate delayed possession for staged and owner-occupied properties, in case the loan falls apart at the last minute</li> <li>Try to give the other side an opportunity to save face when negotiating - don't reject a counterproposal outright - give a little bit, even a token amount or concession.</li> </ul> <p>If you missed the show, you can purchase a recording of it in the <a href="http://swsstore.com/index.php?l=product_list&amp;c=11">SWS Bookstore</a> for $3.99, or join <a href="http://www.clubsws.info">Club SWS</a> for $10/month and get access to recordings of all past, present and future SWS shows!</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Fri, 19 Aug 2011 08:19:11 -0700 http://sellingyourlistings.com/post/2462956/negotiating-with-soul-the-favorit-est-tips- http://sellingyourlistings.com/post/2469210/do-you-remind-the-other-side-of-contingency-deadlines- <p><img title="deadline" src="http://activerain.com/image_store/uploads/6/0/7/1/4/ar131410453841706.jpg" height="354" alt="deadline" width="350"></p> <p>During a recent <a href="http://www.sellwithsoul.com/about/calendar">SWS Teleseminar</a> show (<a href="http://swsstore.com/index.php?l=product_detail&amp;p=94">Negotiate with Soul</a>) a discussion arose as to whether or not&nbsp;a listing agent should "remind" the buyer agent of the buyer's contingency deadlines. We didn't exactly call it "reminding," but rather "checking in" or "following up," but to my ear, it's the same thing as "reminding."</p> <p>For example, in Colorado, there is a loan approval deadline which somewhat functions as the Drop Dead date in a transaction. If the buyer does not have loan approval by that deadline (typically a few days to a week prior to closing), he can do one of three things. He can:</p> <p>1. Terminate the contract and receive a refund of his earnest money, no questions asked, or</p> <p>2. Ask for an extension of the loan approval deadline (which the seller has the option to grant or not), or</p> <p>3. Do nothing.</p> <p>Please note - the onus is on the BUYER to notify the other party if there is a problem with the loan. If the buyer does nothing, it is assumed that the loan is fine, and&nbsp;the earnest money goes "hard" - that is - if the transaction does not close on time, the seller has the option to keep the buyer's earnest money. But NOT HAVING LOAN APPROVAL DOES NOT TERMINATE THE CONTRACT and if it still somehow can close on time, great!</p> <p>So, back to the question, (<em>assuming an agency relationship exists</em>) should a listing agent remind the buyer agent about the loan approval deadline?</p> <p>You can probably tell by my tone what my opinion is... but first, what's yours?</p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="agent_signature"> <p>&nbsp;</p> <p><span><strong>The New ACRE</strong><strong><span>&reg;</span><span> is HERE!</span></strong></span><span><strong><span><span>&nbsp;</span><span><span><span>&nbsp;</span></span></span>&nbsp;</span></strong></span></p> <p><img title="ACRE" src="http://activerain.com/image_store/uploads/8/3/6/9/6/ar132948795069638.jpg" height="113" alt="ACRE" width="350">&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><a href="http://www.theconsultingprofessional.com">http://www.theconsultingprofessional.com</a></p> <p>&nbsp;</p> </div> Jennifer Allan-Hagedorn, Author of Sell with Soul (Sell with Soul) Wed, 24 Aug 2011 08:01:52 -0700 http://sellingyourlistings.com/post/2469210/do-you-remind-the-other-side-of-contingency-deadlines-