The Price is Right?????
How many of you as Realtors® have gone to a Listing Presentation with an honest realistic assessment of the property based upon recent sales, location, and property condition only to have the listing given to another Realtor® with an unrealistic higher sales price? Overpricing a property in order to compete with your fellow Realtor® to secure a listing is downgrading our professionalism as an industry; this is one of the main reasons there is a large market for FSBOS that simply hate Realtors®. Don’t go to your local Board purchase a Saint Joseph statue bury it upside down in the front yard, put your sign in the front of the property for Lead Generation and pray that the property will sell eventually. Most of us are great Realtors®. Next time you go to a Listing Presentation, I encourage you to provide as a Real Estate Professional, a true evaluation of the property based on market characteristics, location, property condition, etc. Real Estate brokerages provide a service, unfortunately in many situations misleading market information is provided to secure business which has caused consumers to perceive less value for our services. As an industry we need to earn the trust and respect of our clients. Integrity is not given, it is earned; however, once you lose it, it is lost. Below are comments from MaxValue, Realtors®, Bob Lundberg.
“I have lost listings as many Realtors® have recently. It wasn't that I gave a faulty listing presentation, showed up late, or dressed as a slob. I lost listings due to honesty. When you show up to a potential listing, it is about doing our job and informing the potential client what the current market is and what the potential value of the home is based on recent sales, location and property condition. Our job is to help our clients, not ourselves. What do you call it when a Realtor® goes to a listing presentation with the thought of misrepresenting the value of a property to obtain a listing? Unethical behavior! Not only does this behavior not represent the facts, it degrades the Real Estate Profession.”
“When a property is listed at an unrealistic value, it is hurting one party, your Client! Eventually you will drop the price to market value, but now you are up against time on the market. Then you may have to drop it below market value to get a contract before your listing expires. Who are you hurting most? Your client! You get a contract finally and what is your client’s mood? Mostly a negative one because you could not sell their property for the price YOU told them it could sell for. You are searching for the words to say. The words usually go like this: "You know the market is unpredictable. Unfortunately the market has been softening up as of late." Who does this hurt? The Real Estate Profession.”
“I'm sure most of you have ridden on an airline in the past. Why is it that some airlines get high rankings and some get low rankings? Their service is close to the same, their price structure is the same, and their on-time rate is similar. But why are their customer ratings vastly different? It is all about Customer Expectations. If you create a high level of expectation and produce less than the expectation, you will get a high negative rating. If you create a lower expectation and come in with a product higher than that expectation, you WIN, and WIN BIG. In comparison to Real Estate, if you set your clients expectations high (price) and their home sells for much less, you are hurting the satisfaction statistics for the Real Estate Profession. If you set your clients expectations for the correct level and their home sells quick and for market value, they will have a high regard for the profession and you will probably receive referral business from their positive experience with you.”
“So who is hurt by agents who create unrealistic expectations? Clients, and most of the Real Estate Industry.
Be ethical, be honest, and be true to your clients needs. This in the end will be a win-win-win! Your client wins, you win, and the Real Estate Profession wins!”
For more information. call my cell at 571-246-2406 or visit my website at www.maxvaluerealtors.com
Tony Feijoo / Principal Broker / MaxValue, Realtors
My Real Estate Website - www.MaxValueRealtors.com
Office 703-870-3776 x304
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