1. I am newly licensed.
Everyone has to start somewhere. The super star agents of today were, at some point, brand spanking new. Often, however, sellers never ask nor are told the experience level of the associate who shows up at their door with contracts, for-sale signs and a nervous smile. Honesty and full disclosure from the Realtor® are essential when looking out for the best interests of the seller. Disclosing to the seller at the onset that this is the agents first, or one of their first, transactions does not have to result in a, “no thank you, we are looking for someone with more experience”, from the seller. A future top producer should be able to alleviate the fears a seller might have in allowing a greenhorn to handle this important transaction. Sellers that are made aware that their agent is new would have the opportunity to ask several important questions that could offset their concerns including but not limited to the following:
Does the agent work as a full time sales associate?How long has the agents company been in business in the area?What is the company’s success rate in selling the company’s listings?Does the agent’s company have a written marketing plan that has proven results?Does the office phone ring with buyers searching for homes similar to the seller’s home?Is the agent’s Broker or manager readily available for the seller to speak to directly if needed?Does the agent have an office mentor to work with during this deal?Does the agent have specific training or have life experience- an educational background in marketing, contract law, negotiation skills and similar business skills that will benefit the seller?A new agent, freshly licensed, can prove to be a great choice for sellers. Their enthusiasm level is extremely high. At this stage in their careers they are constantly consulting with their manger or trainer, receiving pointers and help that ultimately benefit the seller. Tell the seller. The seller has the right to know and will appreciate your forthcoming. It can be a win-win situation if it starts off right.
2. I work part-time as a Realtor®.
This should be a mandatory disclosure that every licensed real estate agent must provide a seller. How many sellers would entrust the handling of their possibly single largest financial transaction in to the hands of an agent who is only working part-time at real estate and full time at another job? Could you imagine a physician, attorney, dentist or accountant working part-time in their profession? Would you feel confident and assured in their services? Realtor® s hold themselves as the professionals of home sales. Sellers are willing to pay substantial commissions for successful closings handled by those who they believe are educated, on top of market trends and are full time sales agents. A seller has the right to know that the agent they are interviewing is only doing real estate sales as a part-time job. Contract negotiations, home showings, inspection appointments, appraisals, contract time contingencies, a professional marketing plan and other elements of a successful home sale important to a seller, requires the real estate licensee to be available and ready on a FULL TIME basis. A seller expects nothing less.
3. I have no marketing plan for your home.Everything seems to be in order. The agent presents page after page of numbers and statistics that indicate pricing for the home. The seller is pleased with the price, the estimated proceeds the seller will receive at closing and the friendly and charming personality of the Realtor® who is making the presentation. The listing contract is signed, measurements of the home’s rooms are taken and a shiny, new for-sale sign is planted on the front lawn. After the seller and Realtor® exchange their goodbyes, the seller closes the front door confident of an offer the next day. After 2 weeks have passed the seller, still with guarded optimism, makes a call to the listing agent looking for an update. The agent first apologizes for not calling the seller sooner. The agent explains to the seller that the home has been entered in the local multiple listing service, information about the seller’s home was printed last week in the local paper’s classified section and if there is no activity in a few weeks, a Sunday open house will be scheduled. Just before hanging up the agent reminds the seller that this is a buyer’s market, patience is the key.
So what happened? The seller reviews the price to confirm that it is in the range suggested by the agent to be competitive with similar style homes in the market area. The seller has made sure to clean the clutter, turn on all the lights, bake the cookies and has a lockbox on the door so the home can be seen at a moments notice. Shouldn’t there have been some activity in the past two weeks? Shouldn’t the home be under contract by now? The hard reality is, besides entering the data into the multiple listing service, a sign in the yard and the occasional classified ad, the seller cannot recall their agent mentioning any other type of marketing. Bottom line is that if a home is priced correctly, it now competes with other correctly priced homes similar in size and style. The seller would benefit greatly from a proven, unique, marketing plan directed to capturing the attention of the limited group of buyers searching for such a home. Sellers could have been made to feel more confident if early on their agent had explained in detail the marketing plan for their home. Such marketing plans might include:
Office caravan of new listings. An old school method of insuring that associates from the listing agent’s office get an opportunity to view the seller’s home. This is extremely important for companies that have open floor or opportunity time. A five minute visit by the office’s sales staff may be all it takes to match a buyer currently working with an associate to the seller’s home.Informative marketing flyers in and out of the home. Colorful brochures or flyers placed at the for-sale sign, kept freshly supplied by the agent, act as a silent salesman for a home. More detailed flyers in the home for those buyers who have scheduled a viewing can provide information about items such as utility costs, school information, nearest shopping, recent updates and warranties for the home. Other not readily seen or positives of the home, mentioned in these flyers, often can be the final element a buyer needs to know about to choose the home.Direct mail marketing campaign. Several surveys indicate that a majority of home buyers move within a few miles of their current home. Agents with a solid marketing plan are aware of this and should have a direct mail system in place to send descriptive post cards or letters describing the home to those potential buyers in and around the seller’s home.The Internet. Statistics show that over 75% of potential buyers begin looking for a home online. A successful marketing plan must include a substantial online exposure. A visible company website, an agent website that actually attracts visitors, a professional virtual tour of the home and posting of the home information on these sites or on secondary home listing web platforms (such as Craig’s list.com) are more important now in meeting the seller’s goal of a quick sale at a top price.Creative in and out of the box market thinking. Effective marketing to Realtor® s from other companies, to consumers who have their homes currently on the market who may be in a position “move up” and to those consumers who are most likely be looking to move into the area for work or social related reasons require thought, preparation and planning that every seller should hope their Realtor® has the ability to implement.
4. I am afraid of you.
Maybe one of the most overlooked reasons a home does not sell. The agent, either real or implied by inaction, fears the seller. This Realtor® is the one who will not tell the seller that Spot and/or Fluffy have left a non-pleasant odor in the home that is deterring the potential home buyer from buying. No suggestion is given to the seller about the simple act of cleaning out Fibber McGee’s closet, making the home more inviting for those who are space conscious. The seller will most likely never hear that the skeleton-head wallpaper in the master bedroom could be a discouraging factor harming the potential sale. Most likely this fear manifested itself early on when the agent agreed to take the listing at a price 25% higher than the agent, and the data for the area, suggested. The fact is this agent is probably the one in the office stressing over having to hold the 15th open house in a row because, “The seller has requested it”, when the agent knows good and well that no amount of open houses are going to procure a buyer for a home that has a roof caving in, termites packing lunches due to no more solid wood to eat and grass so high a person is only guessing the route to the front door. A seller should want and seek the advice of their Realtor® and Realtor® s should be prepared to deliver this constructive helpful advice regardless of the content. In fact, this information ought to be a part of the marketing plan that the Realtor® has shared with the seller.
5. NoSometimes a seller just needs to hear no. If the Realtor® does not feel like they can market the home under the terms and conditions desired by the seller, no should be what the seller hears. A seller who really wants to sell will ultimately understand and appreciate why an agent might walk away from a listing when it just does not make sense. Sellers really do not want agents who just take the listing to have their name on a sign or to gain office recognition. These agents are rarely in the business long. I would suggest that if more Sellers heard no and more Realtor® s just said no, the stress level of both Sellers and Realtor® s would diminish greatly. (sometimes, no will allow the seller to rethink their own ideas about how to sell their home and accept the professional suggestions of a person who works, every day, in the home buying and selling business)
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