A couple of weeks ago I called one of our fellow ActiveRainers. I did this because I had received an email and could tell this person was struggling a little in their business and needed some words of encouragement. So I called.
Anyway, it seems discouragement was setting in because she was going on listing appointments but was losing them on pricing. Then they would list with another REALTOR® and after several months, and a few price reductions, the property would sell at close to the list price that she had suggested from day one. She felt like she was losing listings.
I actually felt a little guilty because I know this person reads my blog constantly and has heard me time after time talk about "NEVER take an overpriced listing".
I know I write about these things a lot. NEVER take an overpriced listing. I NEVER work with Buyers and I NEVER lose a listing.
Well folks, today I want to let the cat out of the bag. I'm a big fat liar!!! There I said it. I HAVE taken an over priced listing. I HAVE worked with buyers and I HAVE lost a listing.
OK….. so now I'm wallowing in the puddle of deceit. Or am I?
One of the attributes of a successful person is the ability to be flexible….being able to read a situation and change directions quickly.
NEVER is a guideline not an impregnable barrier. What that means is, in an ideal World or situation I would NEVER……..(fill in the blank).
However, we do not live in an ideal World so we have to learn to be flexible. We have to make judgment calls. Being able to read folks and their motivation is imperative to being a good "salesperson".
We have to make judgment calls on whether or not to work with folks under less than perfect circumstances. If I meet with a potential Seller and they do not agree with my pricing then I MAY take the listing at a higher price. It depends on a few things:
Their motivation. Do they need to sell but have a little leeway with timing?
Is their suggested price within reason? Within 10% or less of where I feel it needs to be is my rule of thumb.
Do they understand what I am telling them about pricing but just feel they want to try a little higher?
Do they trust me and do we get along?
Do I feel they will listen to me in 30 days when I tell them we need to reduce?
Will they sign off on my suggested price and agree that I am taking the listing higher than I have suggested? Andrew Lenza wrote a great post about this yesterday. Go check it out.
If the answer to these questions is yes then I will probably take the listing. My NEVER has turned into a maybe.
My point is, we have to be brutally honest with folks and make sure they understand THEN we have to make a judgment call. Guidelines are set to guide us in our decisions. But our ultimate decisions have to be based on our judgment. This is where our experience and ability to read people comes in.
We will make mistakes along the way but that is all a part of the learning process. So be flexible. There are very few absolutes in real estate or life for that matter. Your success will come when you are able to discern when you need to be flexible.
Be firm when it comes to your ethics and your morals but leave room to change your mind in other areas. Does this make sense? Never? Maybe? It depends. What say you?
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