When I do a listing presentation, I tell potential clients about all of the marketing methods that I will employ to get their real estate in front of as many buyers as possible.
Using all of my Internet savvy combined with conventional strategies does indeed present the property to a plethora of possible purchasers.
But I NEVER guarantee that I will sell the house. Because at the end of the day, the property has to stand on its own!
There is a multitude of reasons that people buy houses, and an even larger number of reasons that cause a purchaser to reject the property and move on. And some of the objections are insurmountable.
Getting a property noticed is only the first step in getting it sold. Finding just the right buyer is the hard part of the job.
But with patience, persistence, and top-notch marketing it is possible to sell in today’s market!
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Richard, We can never guarantee the results, but past performance is a good indicator, there really is no profession that can plan for every unforeseen complication ours is no different.
"Getting a property noticed is only the first step in getting it sold." It seems a lot of seller's still don't get this. While the owner may be taking a hit with the equity they assume skimping on what needs to be done to make their home stand out will make up for it. It's the second tier cleaning and sprucing up that really makes the difference in my eyes and that's how we overcome the "Finding just the right buyer is difficult". Thanks for posting and have a great day.
Each different ad, or ad venue is aimed at a group of buyers and some will come, but if the house is not what they thought it was going to be, it is unlikely to sell. The house has to stand above the ads and be more than any buyer expected.
Richard, so many sellers believe that their home is unique, as it is to them, that when they decide to sell, it is all scripted, and they should be on their way within 2-3 months. The presentation should show the marketing program, and the stats, and somehow get them to understand that whatthey have or haven't done to the home while they have lived there will now be seen under a microscope, and they should be prepared for that as well.
Richard, sellers will twist our words around and say but you told us it would sell at this price...when it was to be a 'saleable price' and hopefully buyers will come. Certain types of homes just do not sell well here...contemporaries & A-frames for example so waiting for 'that' buyer takes a long time no matter how good a marketer one is & we need to explain that to sellers..thanks
Richard - no matter how well priced, now matter how good the condition, no matter the location, the property has to be noticed. Creative presentations across numerous venues does that. And then we have to worry about price, condition, location, and especailly the vagaries of the potential buyers.
I am always amazed at the ads I see where they guarantee to sell your house or they will buy it! Amazing many sellers buy that line!
I always tell my folks that while I can't guarantee that I will sell their home, I can guarantee that 100% of my effort will be exhausted in trying to do so.
But, you're correct. The home also has to stand on it's own.
In all my years of sales, I quickly discovered that YES comes in one flavor and NO comes in many.
Don't you love the question, "how fast do you think my home will sell?" I tell them much of what you said along with the fact that "my crystal ball is broken". :) We can do everything we can that WE can control and we CANNOT dictate those things out of our control.
In recent years I have incorporated a big spiel into my listing presentation about seller cooperation. I start team building from day one. I lay out all of my marketing plans, venues, techniques, etc. and right before their eyes glaze over and they get all dazed by how wonderful my marketing is...I lay down the caveat of THIS WILL ONLY WORK IF YOU DO YOUR PART. Then I explain that when buyers come to see their home, it has to look BETTER than the pictures, EVERY TIME.
As agents, we have the tools available to do a bang up job marketing a property, but proper presentation is the sellers responsibility. When we become a team, we move closer to success.
The only way we can guarantee that a house will sell is if we are buying it ourself.
Richard...we can sell and market all we want, but the property as you say has to stand on it's own merits.
Richard,
This is so true. It would be stupid to guantee the sale of a house for the very reasons you mentioned.
I agree with you regarding marketing your listings. That is so very important in representing your Client to the fullest. Plus, it is not your job to sell their home - IT IS your job to get their home sold. Great marketing and word of mouth gets the job done.
Agree property can not leave the yard with training wheels and to show case it requires creativity, passionate copy, images, videos that help the process and save everyone time. To make the place on the mls not just another pretty "place" lost in the herd, sea of listings. Brokers are partners with the owner, on the same team. Wave length. Or should be. Use your high powered marketing, years of experience to spot quick sand and push it full throttle. That is all anyone can ask and they see hey, this guy wants to, is going to sell this place ( or die trying). Give 'er all you got.
Too often in a hurry the agent, broker "standardizes" the place and all the flavor, sizzle don't make the leap on the mls sheet of yes, no, maybe. Do your own marketing listing feature layouts, email flyers loaded with rich details, details, details and stop keeping it a secret, the place in the dark.
Every sale has 3 elements:
1) Property - Seller's Job
2) Promotion - Realtor's Job
3) Price - Market's Job
Gotta keep those straight!
Richard, you are right, you can't guarantee a sale! Marketing certainly helps, but if it isn't priced correctly or the condition not what buyers are looking for, all of your wonderful marketing in the world can't sell it!
Once the buyer gets in the door that's just the first hurdle, then the offer, then the financing. It's a marathon to closing!
Hi I just give the facts. I do not promise, It takes great marketing~I do project. It all boils down to having the right pricing and how I will sell your home.
I tell sellers the same thing when we get an offer and the buyers get a loan commitment. At that point the home has to stand on its own and prove itself. Via the survey and appraisal. If it fails either of those, that is NOT the buyers' fault. That is also an issue for those sellers who want the moon for their homes when they are really just worth a meteorite. I tell them, even if we get a buyer who offers the full price, when the bank's appraiser looks at the SAME comps I have used to advise you as to asking price, he/she will shoot you down faster than the Red Baron! At that point the jig is up unless you drop the price to what I told you it was worth in the first place. And it is very likely that the buyer will walk and you are back to square one. (Strange thing is, most will want to go back to square one with the SAME high price that got shot down, "just in case". Oh well, the weekend is here at least.
PS Even those companies that promise to buy the home if they do not sell it have a LOT of fine print, and sellers need to read their agreements carefully. Perhaps it is the best way for them to go, but they need to enter into such agreements being fully-informed.
Hi Richard. That is why I under promise... and over delivery.
I agree that finding the right buyer for every property is not always that easy. Some homes will work for lots of different types of people but other homes really meet the needs of certain locations and charactertistics.
You're right, Richard...the property MUST stand on its own. I've found that the best way to relay this message to the sellers is to discuss with them the fact that once they opt to sell, then the relationship that they have with their home becomes strictly business. I've found that once they actually grasp the concept, then they'll (most of the time) do their part to ensure that the property is able to do its part as well.
I agree 100% Richard. The best marketing simply won't sell a home that isn't presented and priced properly.
It takes the Agent and the seller working together to get the property sold and the property stands on it's merits.
An over priced property only has one buyer and they already live in it.
Don't forget the appraisal... Last two transactions had all the 'hard parts' over and done with, that was until the appraisal came back. Unfortunately at that point it doesn't matter how the home does on its own because it gets lumped in with all the other foreclosures, short sales and other distressed property transactions.
Another great photo, Richard ~
Well said, Richard.
Hi Richard -- Your post is so right on and it reminds me of an old saying:
I might be a genius but I'm not a miracle worker!
price is 80% of marketing, no? so i can guarantee a sale if the sellers are willing to sell at a market price. if they have a reason to sell - if they must sell because they are moving - i guarantee i'll sell their home - guaranteed if they understand what the market is and they're willing to sell
Richard,
The house will stand on its own or the price reflects why it doesn't.
It's true - never make promises you can't keep but with all the tools we employ hopefully the right buyer is out there.
Laurie
Reblogged this. It is a price war and a beauty contest and you have to win at both. Even the Redskins Cheerleaders out front will not do the trick...but it would sure be fun!
I love Jeff's answer, #18. We all have to work together for it to sell!
You are so right, even with everything up to speed, each house has a particular buyer. And I have a couple now that are really needing that ONE buyer to step up and do the deal!
Richard, you are so right. We can't guarantee it will sell, but we can guarantee we will do our best to market the property.
Richard, you are dead on with this one! (Of course, you usually are). We are not really selling anything -- we are only marketing the property to the best of our ability.
Richard, so so true! We know that the home must not only be marketed very very well, it should be priced competitvely and be the shinest penny in the markeplace. We can control the marketing end, suggest strongly the pricing, but in the end, the seller has great responsibility!
As with any product, the more appealing the packaging, the better the chance at success. Great post!
Great post. The house really does have to stand on it's own. I've got one right now that is absolutely baffling me. It's gorgeous, priced right and getting showings. No offers. It is hard to foresee what will happen here, but it's certainly not for lack of marketing.
Hi Richard! I read this post and am just now getting over here to comment! I agree--there are no guarantees in life so, why would anyone stick their neck out to say that they guarantee a sale? Just blows my mind. The sellers' ability to help with the presentation, do everything on their end to sell AND to price it right, sometimes still takes hard work to find that right buyer. Our job is NOT easy oftentimes, that's for sure!
Price is the key. Buyers aren't buying flyers, images on TV or websites, or open house balloons. They are buying a house in a price competitive market. If it's priced right the buyers will show up up through IDX's and automated searches from their Realtors.
We cannot guarantee the seller's motivation is adequate to make a sale happen. Every house will sell at the "right" price. Not all listed houses will reach the "right" price.
Yep, finding just the right buyer is the hard part of the job. Both from the buyer’s perspective (finding a buyer who really wants the home) and from the seller’s (finding a buyer who really wants the home AND can actually close the deal).
It is definitely a team effort to sell a home and seller cooperation with both condition and pricing is essential. All the marketing in the world does not matter if the price is too high or the condition is not up to where the buyers expect. Great points!