Posts Tagged ‘ listing agent ’

Short Sales? Don’t You Mean Long Sales?

The term “short sale” was hardly even heard of 4 years ago.  The name alone is so ironic in that it usually takes 3 months to a year to close.

Most Realtors® won’t even show them as now a days you are lucky if they close at all. They are without a doubt the most frustrating of all sales. Still I guess we will be forced to live with them until someone let’s the lawmakers know that enough is enough.  We need regulations and rules.  Realtors are either getting rich or running for the poor house.

Fannie Mae recently passed a regulation that prohibits banks from negotiating the buyers commission or reducing them. A small but great victory for buyer’s agents who are at the mercy of the listing agent.  Most of the time they offer 2.5% – 3% and state on the MLS that if commissions are reduced they are split 50/50.

Well I guess we have to take the word of the listing agent and their escrow officers on this.

I recently had a listing agent tell me that they reduced the total commission to 3% and I was to settle for 1.5%. She then accidentally forwarded me an email from the bank negotiator, who allowed a 7% total commission.  Talk about dishonesty and greed.  Unfortunately it is very prevalent in this market.  I did manage to get my 3% but with a lot of Broker to Broker combat.

How I long for the old days. Continue reading this post


Posted by: Peggy Aldinger on September 27th, 2010 under Short Sales and Foreclosures


Marketing & Selling a Home with a “Diamond-Water Paradox” Mentality

The “Diamond-Water Paradox” is a basic, fundamental economic theory: Water is essential to life; diamonds aren’t, but because there is so much water available, consumers place much greater value on a diamond to a drop of water.

The same paradox can be applied to selling a home.diamond-home-marketability

When potential home buyers view homes these days they’re looking for that diamond (or, a “diamond in the ruff” to be exact).  And, just like diamonds with their detailed system of clarity (FL, VSI, SI, I, etc.), a home’s marketability may be characterized by three important details: Price (P)/Condition (C)/Location (L).

  • Above average landscaping & curb appeal (+C)
  • Kitchens and bathrooms that have been remodeled with the latest and greatest (+C)
  • Freshly painted rooms in neutral tones (+C)
  • A home that is clean and spotless (+C)
  • A home situated right next to a factory (-L)
  • Orange shag carpeting (-C)
  • A home’s price that is at the top-end of the market for similar homes in a given area (–P)
  • A home that has easy access to major highway and is also located in a community with very little noise & traffic (+L)
  • A home that’s priced at or slightly below market conditions (+P)
  • A home located in an area of superior job growth and stability (+L), etc, etc… Continue reading this post

Posted by: John Badalamenti on March 8th, 2010 under Motivation

1 Comment »

6.25% Conversion – Expired Mailing to Listing!

Russell Shaw of The Russell Shaw Group with John & Hall Associates once said, “To really grow your business, become a listing agent”.

If the great Captain Russell said so, that was all I needed to refinmailboxe my old expired program with a 2% mailing to listing conversion, and revamp my entire expired program with adrenaline, steroids, and total domination in mind. Simply put, I was willing to accept nothing less than being the king of listings, no matter what it took.

First, let’s touch on what I was doing to understand why I thought I was doing OK when really, I was just another expired real estate chump.

This was me in a nutshell:  Print the letter, stuff it in an envelope with a business card and pray!  My conversion ratio was 2% mailing to home listing.

Now let’s fast forward to the Russell Shaw way of 2010; stomp the competition so low they fear your name.

First, let me share my current statistics for 2010, and then I will mention what I am doing to achieve those numbers.  Since January 1, 2010 I have selectively sent 80 mailings.  I have received 7 call backs, in which 5 of the 7 call backs have resulted in listings.  One of the 5 home listings is in the pipeline. Continue reading this post


Posted by: Robert Worthington on March 5th, 2010 under Leads


10 Things You Should Know About Working With a REALTOR

10-things-you-should-know-realtorI am continually amazed by how little some people know about the real estate business.

Most people generally have a good idea about how the industry works but every now and then I run into someone who is pretty naïve about the home buying process. Even doctors, lawyers, CEO’s and other professionals may not know how our business works.

Here are 10 things you should know about working with a Realtor®.

1)  Realtors® work on commission

There may be a few exceptions here and there but most Realtors work on 100% commission. That means no salary, no draw, no bonuses, no nothing. If there is not a successful closing the Realtor does not get paid. No only do they not make any money they actually lose money. Agents are essentially small businesses with various expenses like advertising, websites, business cards, stationary, direct mailers, gas, time and energy. If they don’t generate revenue they lose money.

Realtors are not public servants. Don’t ask them to work for you if you don’t think they will get compensated with a commission from a successful transaction.

2)  Hire a Realtor®

First figure out if you want to work with or without a Realtor. Some people want to work directly with the listing agent because they think that they will get a better deal on the property. If you do want to work directly with the listing agent keep in mind that they had a prior relationship with the seller before meeting you. The Realtor might look out for the seller’s interests instead of yours. It might be best to hire a Realtor that represents you in the transaction. Continue reading this post


Posted by: Marc Rasmussen on October 5th, 2009 under Buying or Selling a Home, Realtor


New Agents Working With Buyers: It Takes A Commitment

Working with buyers is difficult. It’s no wonder most real estate agents would rather list homes and avoid spending a lot of time dealing with buyers. Home buyers are demanding, fickle, sometimes emotional, sometimes unrealistic, but always there waiting for an agent to help them.

Even though many home buyers think they want to do it alone, I’ve found most eventually ask a Realtor for help. They may not want a contractual relationship with a buyer agent, but they want assistance.

Many have gone from listing agent to listing agent and they are tired of looking for homes that way, so the buyer is in between, they don’t want to sign a buyer agent agreement but they want guidance.

If you decide to work with home buyers you will have to capture them soon and you will have to impress them with service. Most buyers don’t know what they can get from a real estate agent until they get it—then they like it.

Buyers now are going online and making a request to an agent with a website, or going through a company like HomeGain that offers help—they want listings or information about a listing or area—they are sticking their toes in the water, to see what the response will be.

If the response is immediate and it offers help, then the buyer will likely go further.

Upon the first significant contact is the time to impress the buyer with service. Continue reading this post


Posted by: Mike Farmer on May 12th, 2008 under Best Practices, Buying or Selling a Home


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