Selling Your Home Can Be A Burden.
So you are going to put your home in the market. Talk about adding a burden to your life, come and see it folks, any time you wish. Welcome to the interrupted life process. Even when you say no showings after 5PM, an agent with the right buyer is going to knock on your door at 5:15 and want to show the home with the client sitting in the car. It’s just not fun anymore is it?
Why prolong the pain? You are putting yourself in for that if you just pick an agent based on friendship or fees.
The message in this article could be called, sales prevention program#80. Not only that, if you make a decision that results in your home being on the market for weeks and weeks, even months and months, you are going to be pressured to lower the asking price or be tempted to take a low ball offer. The longer it is on the market the less you are likely to get for your home. If you doubt, that let me show you the actual, factual numbers.
To illustrate my point here is an actual situation. A home is on the market, well sort of. Sorry, it is on the market I am sure in the sellers mind. The home is vacant. The listing agent is a co agent with a non MLS agent who is the owner of the home. It appears that the sharing of the listing is only to get the home in the MLS. In Utah not all legally licensed agents are members of the MLS. They should be but some are not (very few). Their clients should demand that for the own protection. The MLS has important data every agent should have access to and it implements stricter ethics rules, even requires an arbitration process to settle disputes.
The sales prevention program is this. There is no way an agent can show the home without contacting two agents. First the MLS agent who then refers you to the non MLS agent. So if you wanted to show the home you have two hurdles to go over.
Personally, as a buyers agent, I generally want no part of introducing my client to another agent. I prefer not to have to make an appointment, although that isn’t always a practical choice. My response when this situation arises is to just move on.
What is in it for the second agent? One can only guess. One guess might be to discourage a sale unless he, the second agent makes the sale. That way he gets two sides of the deal. He does hold an open house each week. He does sell some units this way.
Is this the reason? If not, what else could it be? The agent knows me, if you read this my friend I welcome you to change my thoughts. Please do. But if I am right, you have a fiduciary responsibility to your seller. My assumption, if correct, puts that role in question.
My approach, the right approach, is to do everything possible to shorten the time my clients homes is for sale. This way they are most likely to get top dollar and to end the seemingly long and arduous journey. Good agents do that by eliminating all hurdles preventing every possible prospect from seeing the home.
Continuing Kathleen and mine favorite topic: Sales prevention issues, or things we notice when looking at properties, Sales Prevention Program #82: They Can’t Get In is a sales prevention program.
If an agent can’t get in to show the home or condo, how in the world can it be sold? The process that works is to have a Supra Lock Box, or key box easily accessed in front of the residence. This key box should provide all agents the necessary to enter the home. The Supra key box records what agent entered the home, and at what time. A notice is sent to the listing agent with the ability to copy the notice to the home owner.
Recently I have seen these sales prevention instances.
One doesn’t want to confuse an agent. So how about putting clear identification on the lock box, which condominium the lock box belongs to. It’s bad at Canyon Road Towers, it’s a horrible situation at Parc Gateway. Its unbelievably bad there, so bad it isn’t worth showing the units where figuring out the lock box is a waste of time.
I had an occasion at the Metro Condominiums where no key matched the house. Some careless agent had put back the wrong key in the box. There were five units for sale there, what a mess. That could be alleviated to a great degree by going to the effort of adding a simple identification ring with a number on it. They cost about .35 cents at Glens Keys.
I have gone to listings where there was a key box, but where it was empty. Figure that one out.
Recently I had to call an agent, fortunately he answered his phone, to inquire where the key box was. The answer, “Oh, its out in back, attached to the gas meter”. Great, the gas meter was covered by a large plant.
Whatever your situation is, it might be wise to see if your agent, for some silly reason, has joined the Sales Prevention Item #82 club.
Larry Cragun Windermere Real Estate
Salt Lake City Residential & Condominium Professional
If They Can’t See It Will They Buy It? Sales Prevention Program #31 I make two important points here: 1- from the photo, get rid of the clutter. For most buyers it’s in the way, all they see is the clutter. If all they see is clutter they are likely to move on to the next home. Oh, and if the clutter includes a tank with a boa constrictor in it, (like in one showing I had) count on it, they are gone to the next property. Can’t See Will Buy Think ahead if your property is going to be rented.
2- Think ahead if your property is going to be rented. You and your renter most likely have opposite goals. They may not want you to sell. They most likely won’t care about how it looks. They aren’t likely to be a cooperative asset in showing your home. It would be nice if there was a “keep it neat and tidy clause” but throw that hope out the window.
Sometimes it is best to vacate the home. Here is a real example of why. I had seen the interior of a home in the high 600 price range. The agent did a great job of photos. A buyer I am working with loves what she sees, including the location and the building as she saw it from the drive by. There is a second one we have been in and it is a possibility. But the client wants to consider both of them. The problem is, we can’t show the second home. The renter won’t cooperate. We gave 72 hour notice, but the answer is no.
Of course it’s no. The renter doesn’t want to have to move from these cherry digs.
Another tip, don’t under price the rent. Not only cherry digs but sweet rental price. There is a lot of motivation by the renter to be a sales prevention participant.
If our buyer is impatient it’s probable she will by the other option she has it down to and the renter wins by not having to move for awhile longer. The seller might be screwed financially too. The longer it sits on the market the more likely the price will drop. Also, the first buyer in being the best buyer philosophy may just apply here.
NEXT DAY UPDATE: It’s worse than I have ever seen. The tenant has just threatened a lawsuit against the agent, if the agent shows us the unit again. He say’s the only way it can be entered by the listing agent is if he has a signed purchase and sale agreement. What’s the chances of that without the client seeing it? It probably isn’t irrelevant that the renter tried to buy it at a much lower price a few months ago. I also found out today that the seller really needs the money from a sale. This is not a good situation.
Sales Prevention Program issues are usually quite different than this one. This one is a doozy one might say. There are lots of reasons to stop viewings, which of course is the key to finding the right buyer. Please notice that you have to get past the snake to get to the Supra lock box. Oh dear, he’s not real. It’s a prank.
As a listing agent we are responsible to create home shopper traffic to see the home. The more people that see the home the more likely just the right buyer is likely to walk in.
This photo was put in our Facebook Group by an agent that turned around and ran. He didn’t bother to find out and went on to another property. The photo was taken with his special lens.
Maybe this was all for fun but in fact it caused a potential buyer, maybe the right buyer to move on to see other properties.
Now you may not be doing the rattlesnake thing but what do you do to get your home in tip top shape to sell? Is it free of clutter? Is there too much furniture in the home? Is it clean? I learned a hard lesson on a home purchase when I was a young guy. Every time we went to preview the property the sinks counters were piled high with dishes. It was impossible to see the counter tops. It didn’t dawn on us that the dishes were hiding something. They were, they were hiding a kitchen counter that had rotted out. The entire counter top needed replacing. Was it a big deal, not really, but had we know the situation we would have required them to replace it or compensate us for having to do it ourselves.
Sales Prevention Program #1,
I am looking for a home for a buyer that has just sold their home and feel an urgency to get their next purchase arranged. They want to really understand their options.
With those factors I am preparing to take them out in a couple of days. There are 13 on the market that meet their criteria: price range, location, size, and neighborhood.
As I am routing this busy day I discover that one of the possible options requires me to schedule an appointment which is somewhat difficult to schedule as it is near the end of our tour.
Usually this isn’t a serious problem but I just took the home off of our tour. The reason is in the rules of showing:
- I have to call the owner. (OK, this I don’t prefer)
- I get a requirement to wait for a text. (Oh brother)
- I get a text that requires me to go to a website to schedule the appt. (Really?)
- They require I provide the name of my buyer. (NO!)
I have had enough experience to know that dealing directly with the owner is not always wise. I would do that and do that begrudgingly. But this list I won’t do unless the client insists. They won’t they have lots of options.
So in this situation with a real buyer, they the sellers are missing the opportunity to sell to this real buyer.
There are a lot of articles coming on what I call “sales prevention programs”. I recommend that you take these issues seriously. As I am transferring and updating from my other website: http://ItsGreatInSaleLake.com/ you can find what has been over 100 articles by me there.