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Old 03-18-2014, 01:40 AM
 
Location: los angeles county
1,763 posts, read 2,041,042 times
Reputation: 1877

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What's your opinion?
It seems no matter how "different" agents say they are, they always seem to end up sitting on their ass after taking a listing. They're really not so different after all.

Is it normal to find yourself twiddling your thumbs, waiting, and hoping for a buyer to come along?
I mean after putting the house on the MLS and having it syndicated, making a virtual tour website with professional photos and video, maybe sending out a postcard, holding brokers open, sending flyers to other brokers, newspaper ad.....
what else does a truly badass agent do?

I know Mike Ferry's style is to play the cold call lottery and tell people you have a listing. Is that what you do when 2 months have passed on your listing?

The only thing that matters in the end is price, and waiting for one person to bite, no? All that "different" "special" magical mumbo jumbo doesn't matter?
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Old 03-18-2014, 08:18 AM
 
Location: El Dorado Hills, CA
3,720 posts, read 9,976,768 times
Reputation: 3927
The special magical mumbo jumbo is mostly up front. Helping you understand how to get your home in the most sellable condition possible. Showing you good comps and how your house compares so YOU can pick a price at which the home will sell. Taking professional photography and making a good quality virtual tour. Advertising your home on the internet and direct mail. Setting up brokers tours and open houses if you want to have them.

If your house is on the market 2 months, especially if it's a sellers market like we have, and your agent has done a great job at all the other things, then yes, it's probably overpriced. If you are in a price range or area where homes are on the market much longer, than you just have to wait.

In this age, almost everyone is looking at listings on line if they are remotely interested in buying. Not sure why cold calling would help if you have a good presence on line.
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Old 03-18-2014, 02:24 PM
 
Location: Columbia, SC
10,940 posts, read 21,914,344 times
Reputation: 10571
Quote:
Originally Posted by NinaN View Post
The special magical mumbo jumbo is mostly up front. Helping you understand how to get your home in the most sellable condition possible. Showing you good comps and how your house compares so YOU can pick a price at which the home will sell. Taking professional photography and making a good quality virtual tour. Advertising your home on the internet and direct mail. Setting up brokers tours and open houses if you want to have them.

If your house is on the market 2 months, especially if it's a sellers market like we have, and your agent has done a great job at all the other things, then yes, it's probably overpriced. If you are in a price range or area where homes are on the market much longer, than you just have to wait.

In this age, almost everyone is looking at listings on line if they are remotely interested in buying. Not sure why cold calling would help if you have a good presence on line.
Nina nailed it. Most of the work is done in the first week or 2 and then you have to wait for the results. If it's been 2 months the magic bullet is a price reduction. Part of selling is reducing the price if it's sitting there. The truly awesome agents position a home well up front and get price reductions when needed. Mike Ferry's cold calling is designed to get new clients, not sell the home.
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Old 03-18-2014, 02:48 PM
 
1,835 posts, read 3,254,845 times
Reputation: 3788
Quote:
Originally Posted by Brandon Hoffman View Post
Nina nailed it. Most of the work is done in the first week or 2 and then you have to wait for the results. If it's been 2 months the magic bullet is a price reduction. Part of selling is reducing the price if it's sitting there. The truly awesome agents position a home well up front and get price reductions when needed. Mike Ferry's cold calling is designed to get new clients, not sell the home.
Agreed. The hard work is upfront. Get the client to spend some money freshening up and decluttering, painting, etc and then let the dividends for this work roll in.

Honestly I do not think anything but getting it on the MLS matters now. All the rest of the gibberish is for the benefit of the agent, and helping the agent get new clients. I do not know anyone who does not use the internet exclusively for their home searches. When properties they are interested in pop up on the MLS, they call their agent and go see them. The other marketing stuff is just fluff agents say they do to differentiate themselves from one another. The MLS sells the house.

I seldom see properties that are listed for long periods of time get anywhere near their asking prices...it happens, but its not often. You get one bite at the new listing apple, I always say don't waste it with bad pictures, or an obscene price.
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Old 03-20-2014, 06:16 PM
 
Location: Riverside Ca
22,146 posts, read 33,381,488 times
Reputation: 35433
Houses sit when they are overpriced. If you can afford to wait for the buyer to meet your price then wait. Problem is most people can't wait that long. If it's been sitting with NO showings then you're priced too high. If you are having showings but no sale interest bites it's something in the house people don't like. Could be price is too high for what it is once they see it in person or the layout is not what they want.
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Old 03-21-2014, 08:31 PM
 
Location: Georgia
4,578 posts, read 5,643,202 times
Reputation: 15968
Price, price, price. If EVERYTHING else has been done, and there's still no bites, you are overpriced. And by everything, I mean that the house is clean as a whistle, staged nicely, de-junked, nice curb appeal, good marketing, decent school district and not under power lines or something that is out of your control, then the only thing left is price.

There aren't too many agents who can sell a house to a buyer who thinks it is not worth the price.
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Old 03-22-2014, 01:48 PM
 
Location: Salem, OR
15,539 posts, read 40,308,808 times
Reputation: 17422
I do biweekly neighborhood market activity reports for my clients where I show them new listings, what went under contract etc. I do a new CMA every 30 days for them so we can see what inventory and such is doing. I have some other marketing boosts that I will do, but a lot depends on when the house was listed and such.

While I generally don't do open houses I will use it as a boost marketing tool if someone listed in early December. I'll often do one in March as real estate season starts to heat up, if I need to. I have other things I will do too, but it depends on the house and the market.
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