10 Apr Is it a listing or a liability?
Don’t kid yourself. Not every listing is GOLD!
Very few listings come to the market as hot listings. It takes skill and time to bring a property to market that is attractive to buyers.
Real buyers know value and if you suggest a new overpriced listing is ‘hot’ or ‘won’t last’ or is ‘fresh’, or any other superlatives, you are kidding no one but yourself.
That type of hopeful marketing is generally done by inexperienced agents and/or an agent who is out to please the seller. Do that and you are doing no one a favour – especially yourself.
All you are doing is putting a noose around your own neck. You are taking on a liability – UNLESS – you have a plan to turn it into a listing that will attract buyers.
Here is a system that will help you grade your listings so that you can have a plan to set your properties on the path to a sale. Try grading every listing. Here is a system to do it.
Grade every listing as A, B or C. You can do the + and – thing as well but do not overcomplicate it. Keep it simple and be grounded and honest in your assessment. You might even like to get someone whose opinion you respect to do it with you or for you.
Here are some category descriptions that will help with the grading. Modify them to suit your area and your office but this is a good starting point.
- Large signboard
- $5K + VPA (Paid)
- Asking within selling zone (10% of team estimate)
- In demand property
- Had at least 3 offers
- Will sell in under 30 days
- Up to $5K in VPA (Paid)
- Asking just outside selling zone (between 10% and 15% of team estimate)
- Had at least one offer
- Will not sell in under 30 days
- Open with signed authority
- Sign but with other agents signs as well
- No VPA or unpaid VPA
- Asking in excess of 15% of team estimate
- No offers
- No indication of a sale
You will soon work out how good you are at grading and you will toughen up on your assessments. Doing this will also help you plot your future sales and business planning.
Good luck and let me know how you go!