(CHEROKEE LAKE REALTY WRITES A WEEKLY COLUMN FOR THE GRAINGER COUNTY JOURNAL NEWSPAPER. THIS WAS A RECENT QUESTION ASKED BY A READER.)
Sure. For folks that didn’t read last week’s column, here’s what you asked: My husband is a real estate agent. He is new at this and is struggling. I am writing this on his behalf as he does not want his name disclosed. I hope you understand. He works primarily with buyers. I know there is only so much you can write in your column, but any advice would be helpful.
My advice on representing clients that are selling their property is simple. Rule number one is to not overpromise on what you will deliver. Explain what you will do and do it. Don’t promise something that you will not do. If you tell your clients, you will be present for every single showing, be there. Not every other one, every single one. If you tell them, you will not place a lockbox on the door, granting access to anyone that has the combination, don’t place a lockbox on the door. If you tell them, you will do lots of advertising, do it. Don’t just place a sign in the yard and expect the property to sell itself.
There are variables that are out of your control so don’t guarantee that you will sell their property. Review with your clients how you will market their property and then follow through on that. You can guarantee that. Make sure that your clients understand that you are a team and you will work together to succeed. They need to provide you with flexible hours to show their property. If they need 24 hours’ notice, and that is fine, input that information in your MLS so other agents understand this. Make sure your clients understand that the property must be “show” ready for photographs and viewing.
Price the property reasonably. You are trying to sell it. We all want a million dollars but your thorough research (and eventually experience) plus the current real estate market will dictate the sales price. Nowadays most folks are home improvement “experts” because of all the home improvement shows. Same goes for real estate. Since the advent of Zillow, everyone is a real estate expert. They are hiring you for your experience. Listen to their concerns, but don’t hesitate to make recommendations. Clients hire accountants, doctors, and attorneys for their knowledge and experience. Why should it be any different when they hire a licensed real estate agent? If you disagree with the sales price they expect, and they will not negotiate, my advice is to walk away. Don’t agree just to get the listing. You are then depending on luck to sell their property. If the property is overvalued, remember, it may still require an appraisal. And the appraised value may not match your sales price. Again, let hard work dictate whether the property sells, not sheer luck.
Finally, you might only represent these clients once. But you will deal with other real estate agents in your market repeatedly. To get the listing, don’t criticize other agents. It’s a tough, competitive business but let your professionalism and marketing plan speak for itself in getting the listing, not criticism. Hope some of this helps. Let me know if you have any other questions.
