This week I spoke to a friend of mine who attended a real estate gathering recently and he told me that at this event there were two basic camps when it came to listings. ONE: Take the listing only if it's priced right and TWO: Take every listing possible, even if over-priced and try to get the seller to sign a price reduction schedule. I haven't been able to get that out of my mind; because the more I think about it, the more I strongly disagree with one of the philosophies. Guess which one? ;) Floyd taught me long ago that "You don't need them all. Only the ones that will work the way you do." Consider the drawbacks to approach #2:
1. Even though you warn the seller that it may not sell at "their price", when you take the listing at the higher price you send a subtle, even unconscious message that you too think it may just sell. That's giving them false hope and because you know it won't sell at that price...it's really just lying.
2. It takes virtually NO SKILL to list for a higher price and come down later. But it takes selling at a very high level to convince a seller to list it at the right price from the start.
3. It's lazy. The public needs an industry of Realtors who perform as fiduciaries, not order takers.
4. The neighbors know when it's over-priced. Guess who they then view as unskilled? You.
There are a lot of people who read this blog but who I'm really concerned about are my graduates. I would hope that you don't give into the easy way out. That when faced with the "rare" seller who thinks his house is worth more than it really is, you use the Dilemma Technique and our unique pricing visuals. Then if you can't get the right price, terms or length of listing, walk away!
PS. If you need a refresher, pick up a phone and call me.

