I saw a cute video the other day.
Cartoon realtor is talking to cartoon seller. It was hysterical!!
Seller explains he wants to list his home and lets realtor know that his home is "the best house on the planet."
Realtor explains that seller bought at the height of the market and owes the bank $100,000 more than the home could sell for and that perhaps now is not the time to sell.
Seller reminds realtor that it IS the nicest home on the planet and proceeds to ask realtor to work for a reduced commission.
You get the idea! Keeps going on and on with realtor making relevant points and seller ignoring him completely and consuming the conversation with his needs and wants.
Won't post the video or link here because, as you would imagine, the realtor gets extremely frustrated and eventually tells the seller exactly where he should stick his listing! Send me an email and I will send you the link.
I couldn't help but think of this video when I received a call from a potential seller.
He wasn't willing to meet me in person.
He wasn't interested in learning about what I do or how I do it.
He didn't want to know my thoughts on pricing or the local real estate market.
He said, and I quote, "I know it all already." LOL! He really said that, you can't make this crap up! A real "know it all."
He said he was looking to hire a realtor who would work under the following conditions:
1) The seller would retain the right to sell the home himself at any point and will pay the realtor nothing if he finds his own buyer.
2) The seller will not pay 5% commission.
Hmmmmmmmmmmmm... Is that all???
I thought about just saying no, hanging up and getting back to dinner with my family. In hindsight, perhaps I should have!
Instead I replied with very serious, well thought out, intuitive responses.
I explained that a realtor who would agree to allow a seller to sell on his own wouldn't invest enough marketing dollars at the risk of the transaction resulting in a loss due to circumstances out of his control.
I explained what the going rate for commission in that neighborhood. I explained that for a home with a potential value of $95,000 the difference between competitively commissioning and under-commissioning his listing would be approximately $475! I represented that under-commissioning his home would almost certainly have a negative impact on the sale price of his home of much more than $475. I further explained that with approximately 45 competing units for sale, he was being penny foolish to try to save $475. Of course I also suggested hiring the "right" realtor would more than likely net him more $$ in his pocket as well.
Each time I made a point he said he understood. He said "that makes sense."
Finally, I asked him if he would reconsider his position on the two conditions and he replied...
"I have the nicest home on the planet," or essentially the same thing!
I told the story the next day to my manager. I told her I didn't know why I even bothered wasting my time and real estate knowledge on this guy. She asked if I've ever changed someone's mind.
I have. Many times and I know that I will again. Even if they do have the nicest home on the planet!
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Weichert Realtors - Marlboro / Manalapan
732-598-6823 cell 732-536-4400 x116 (office)