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Communication is the key. I have always thought keeping the seller informed of market conditions was just one of my responsibilities when I take a listing. Here are ten, I’m sure there are many more.
First responsibility: Do a walk through of the house. I like to do the walk through before taking the actual listing. I can make notes and comments about the house. This also gives me a chance to speak with the owners and ask why they’re selling, how much they still owe on the mortgage, what they think their house is worth and how much they would like to walk away with after the sale. Listen to what they are saying.
Second responsibility: Work up a complete market analysis on the home. Does the market analysis support the price the homeowner hopes to receive? If not, ask myself, do I really want to take an overpriced listing in this market. That answer is NO!
Third responsibility: When finished, report the CMA findings to the seller. At that time, I work out a “seller net sheet” with the homeowner. I like to sit down at the table with them and with pencil, paper and calculator in hand work backward to the price the home would have to sell at in order to achieve the “net” dollars they want. Sometimes, this alone will help them understand if the listing price would need to be too high to achieve their desired results.
Fourth responsibility: If we agree on a price that fits the home and list the property, it’s time to fill out the listing contract and explain the process. I heard one time it is a good idea to let the home seller know we are partners in this venture, they must do their part and I mine in order to be successful. Make sure their questions are answered, or you will get the answers for them. Leave them a detailed checklist of their responsibilities and things that need to be kept up daily.
Fifth responsibility: Enter the information into MLS and check it for errors. With all the information needing to be entered, it’s easy to make an error. While mistakes do happen, we owe it to our clients to check and double check for anything that might not let your listing pull up in another agents search.
Sixth responsibility: Take plenty of “good” photos and keep them updated. Here again, once you have uploaded photos to MLS, check them. Are they clear? Are they to small? Make sure they make the home, inside and out, stand out. If the home is still listed when seasons change, please change the photo. Nothing dates a home for sale more than a photo with snow on the ground and we are now in the month of July.
Seventh responsibility: Once showings start, provide feedback as quickly as you can. If the showing agents make suggestions, let the home sellers know. Especially if they are all making the same suggestion on the same thing. Sometimes you may need to be a little more tactful than how it was told to you.
Eighth responsibility: Drive by your listing once in awhile. You don’t even need to get out of the car. Check to make sure the curb appeal is still there. Is the grass cut? Are things picked up in the yard? Is your sign still standing or laying over in the yard? If you have a flyer box, are flyers in there?
Ninth responsibility: I am not big on calling the home sellers every week if we have no showings. I sometimes will email them, but I don’t usually call to chat. It’s ok to set your hours for accepting and returning phone calls, but let them know that when you list their house. If they call you, always try to call them back.
Tenth responsibility: Markets change and listings like old shoes don’t get better with age. Past sales do not mean homes will continue to sell in a given price range in the future. If your listing is still on the market in two months, do another CMA. I think it is a good idea to continue doing a market analysis every couple of months until the property is sold. Always bring it to the attention of the seller. If prices are decreasing, they may not like it, but it is still our responsibility to keep them informed.
Communication is very important in this business. Communication with your clients, potential buyers and other agents. Just because you have a new listing on the board does not mean you have money in the bank. It still has to sell.
First responsibility: Do a walk through of the house. I like to do the walk through before taking the actual listing. I can make notes and comments about the house. This also gives me a chance to speak with the owners and ask why they’re selling, how much they still owe on the mortgage, what they think their house is worth and how much they would like to walk away with after the sale. Listen to what they are saying.
Second responsibility: Work up a complete market analysis on the home. Does the market analysis support the price the homeowner hopes to receive? If not, ask myself, do I really want to take an overpriced listing in this market. That answer is NO!
Third responsibility: When finished, report the CMA findings to the seller. At that time, I work out a “seller net sheet” with the homeowner. I like to sit down at the table with them and with pencil, paper and calculator in hand work backward to the price the home would have to sell at in order to achieve the “net” dollars they want. Sometimes, this alone will help them understand if the listing price would need to be too high to achieve their desired results.
Fourth responsibility: If we agree on a price that fits the home and list the property, it’s time to fill out the listing contract and explain the process. I heard one time it is a good idea to let the home seller know we are partners in this venture, they must do their part and I mine in order to be successful. Make sure their questions are answered, or you will get the answers for them. Leave them a detailed checklist of their responsibilities and things that need to be kept up daily.
Fifth responsibility: Enter the information into MLS and check it for errors. With all the information needing to be entered, it’s easy to make an error. While mistakes do happen, we owe it to our clients to check and double check for anything that might not let your listing pull up in another agents search.
Sixth responsibility: Take plenty of “good” photos and keep them updated. Here again, once you have uploaded photos to MLS, check them. Are they clear? Are they to small? Make sure they make the home, inside and out, stand out. If the home is still listed when seasons change, please change the photo. Nothing dates a home for sale more than a photo with snow on the ground and we are now in the month of July.
Seventh responsibility: Once showings start, provide feedback as quickly as you can. If the showing agents make suggestions, let the home sellers know. Especially if they are all making the same suggestion on the same thing. Sometimes you may need to be a little more tactful than how it was told to you.
Eighth responsibility: Drive by your listing once in awhile. You don’t even need to get out of the car. Check to make sure the curb appeal is still there. Is the grass cut? Are things picked up in the yard? Is your sign still standing or laying over in the yard? If you have a flyer box, are flyers in there?
Ninth responsibility: I am not big on calling the home sellers every week if we have no showings. I sometimes will email them, but I don’t usually call to chat. It’s ok to set your hours for accepting and returning phone calls, but let them know that when you list their house. If they call you, always try to call them back.
Tenth responsibility: Markets change and listings like old shoes don’t get better with age. Past sales do not mean homes will continue to sell in a given price range in the future. If your listing is still on the market in two months, do another CMA. I think it is a good idea to continue doing a market analysis every couple of months until the property is sold. Always bring it to the attention of the seller. If prices are decreasing, they may not like it, but it is still our responsibility to keep them informed.
Communication is very important in this business. Communication with your clients, potential buyers and other agents. Just because you have a new listing on the board does not mean you have money in the bank. It still has to sell.
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