Today I Turned Down a Listing...

I'm hoping that many of you reading this clicked on it because you think I've gone off the deep end. You might be right. In this day and age of agents fighting for customers, why on earth would I willingly turn down a listing? I hope the reason will be clear after a little explanation.

I had a condo listed for five months, with minimal activity. The sellers set the price based on what they wanted out of the home - it was about $15,000 over what market analysis suggested. I took the listing reluctantly, fearing that it wouldn't sell due to its high price. I was correct. About a month ago, the sellers asked to pull the listing because they were refinancing their primary home and the bank didn't allow the refi with their second home (the condo) for sale. The condo listing was removed the next day, and the sellers agreed to re-list within a month or two.

The sellers called last Friday, ready to re-list. I researched the current market and found another identically-designed condo for sale in their neighborhood.  This condo was in better shape and on the market for $8,500 less than what my sellers were originally asking for their condo. I did what I considered to be my duty as their agent, and informed them about this new competing property. Their response was not necessarily what I was anticipating. The sellers decided to re-list their home at the original asking price, even with the given information.

After much thought, I've decided not to accept their listing if this is the path they wish to take. I'm not doing it to be mean. I'm actually doing what I think is best for them. I don't want to devalue their home by listing it too high and letting it get stale on the market for a full year. This will only invite low bids and probably cause their home to sell for a lot less than what it's actually worth. It's also not a good use of my time and marketing dollars, as I feel it will only help justify a sale for the other less expensive condo.

It's not a move I wanted to make, but in the end I think it'll work out the best for both parties.

--
~Matt

Oh, by the way…if you know of someone who would appreciate the level of service I provide, please
call me with their name and business number, and I'll be happy to follow up and take great care of them.


Matthew Barens-REALTOR
RE/MAX Universal - Sheboygan
Cell - (920) 917-0781
http://www.sheboyganareahomes.com

My Sales Contract is about to Expire...Now What?

Your home has been on the market for several months now, and the listing contract is up soon. Your current agent wants you to re-sign for another six months but should you?

At this point, I tell my clients to treat the situation as though they were listing their home for the first time. Review all services the current agent provided – what worked and what didn't? Did the agent meet all expectations? Did they follow through with potential buyers? Did the house not sell because of an over-inflated price, or was the market not responding for other reasons?

Ask the current agent what they will continue to do, and what things they will do differently, if you renew your listing. Your agent should be able to provide buyer feedback, which can be reviewed for validity and used to make positive changes, which may include additional repairs or the possibility of staging the home for a fresh look.

As you move through the process of re-listing your home, take the time just as you did when you originally listed the property to select the proper agent. If you feel the need to interview other agents about their services and to ask what they'd do differently, now is the time.

--
~Matt

Oh, by the way…if you know of someone who would appreciate the level of service I provide, please
call me with their name and business number, and I'll be happy to follow up and take great care of them.


Matthew Barens-REALTOR
RE/MAX Universal - Sheboygan
Cell - (920) 917-0781
http://www.sheboyganareahomes.com