quote:

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>
> On 4-Jul-2005, "V" <krazygirl@yahoo.com> wrote:
>
>
> I find it hard to believe you walk away from overpriced listings. It's
> their
> home, they have the right to at least try to sell it at the price they
> want.
> They may need to sell it at that price or they won't have the money to
> accomplish their goals or pay off the liens on the property. If you did a
> Net Sheet you might discover that they have no choice but to over-price
> the
> home. Do you do a Net Sheet? Do you know how to get a lender to take a
> Short
> Sale?
>
> Realtors, as part of their sales pitch, often use the rationalization that
> if the owner initially puts the price too high, "they miss out on the
> initial "buzz" that's created among the Butyer's Agents. That's true if
> you
> don't have any skill beyond what the average Realtor has. At any time you
> can cancel that listing and republish it with a new price, pictures and
> MLS
> Number. This causes a whole new set of emails to be sent out as well. Not
> to
> mention you should send out emails to all the Agents in your area. When I
> do
> that I get 20-30 responses that I would ordinarily not have had. Do you
> have
> a method for bulk emailing fellow agents? My list is 50,000 and growing.
> When your client's home gets shown do you follow up with the Agent to see
> why they didn't put in an offer? Do you offer them ways to try to compel
> their client to buy? Do you try to get the seller to sweeten the terms
> rather that lowering the price.
>
> They also rationalize that if it's too high price the house won't appraise
> and buyer won't get the loan. This may be true if you don't know how to
> market the home properly. It's a number's game. The more potential buyers
> you have, the greater your chance of finding someone who has no problem
> putting 20-30% + as a down payment. If you're not skilled at influencing
> an
> appraiser. If you don't have a good mortgage broker. If you have a
> scarcity
> of buyers. Then yes, you need to compensate by lowering the or the price
> the
> listing.
>
> Like I said in previous posts. I would routinely put the home in the MLS
> and
> in the For Sale By Owner system. At least 3% higher in the MLS. The MLS
> consistently out performed the FSBO advertising. To not put them on the
> MLS,
> you're simply getting their business by appealing to their innate greed.
> As
> a Realtor you should know by now the MLS is the best way to go. If you
> have
> a FSBO advertising system set up then use that too and price it lower in
> that system. But to not put them on the MLS when you have it at your
> disposal is pure negligence.
>
> I started out at a company like yours. I too rationalized away the truth
> that was staring me in the face. But if you have any sort of conscience
> you're eventually going to become disillusioned.
>
> In sales "the drop" is a method used by sales people who have no other
> negotiating or sales skills. Drop the price. Drop your commission. Appeal
> to
> the sellers greed. It's the easy way out. That's the only thing an unaided
> FSBO has going for them. As a Realtor you have a lot more tools at your
> disposal. You are not acting in the best interest of your client if not
> use
> everything you have at your disposal.