Hi folks. In my business I spend a lot of time speaking to Sellers who have had their property on the market with no success. My favorite type of listing. Expired listings. Not mine but another agents.
The reason these listings are expired is because they were over priced. And they were over priced not because of an unrealistic seller but because their agent wasn't able to sell them on proper pricing and decided to take the listing anyway.
These Sellers usually have the same complaints:
1. We never had any showings.
2. We never heard from our agent.
3. We had to wait 6 months for our agreement to expire.
Of course all of these complaints are related to the property being over priced. Anyway......when soliciting these sellers I have to hit on these concerns in my marketing.
The main way I do this is by offering a 45 day listing agreement that can be canceled at anytime at no costs to the seller. When potential Sellers see that I offer a 45 day listing agreement they call. And when they call......
I say something like this.... "The average days on market right now are about 78 in Poinciana. I am willing to take your listing for 45 days and if you are not happy with my services, pick up the phone and fire me. No questions asked and no charge to you. I get paid when you get paid, at closing. I may not be able to sell your house in 45 days but I certainly don't need 6 months. After a couple of weeks working with me you will want me for your Realtor for life anyway, so, if need be, we can extend the listing at the end of the 45 days. 45 days will give me enough time to earn your trust and your business. So what have you got to lose. So, are you ready to go on the market today?"
Well, in most cases the answer is....... yes.
Now I am sure there are agents out there who would say taking a 45 day listing agreement is weak. But you know, you are dead wrong. First, in most cases I will sell their house in 45 days because I priced it right. Secondly, I know that I will be able to create a lasting bond with my Seller in way under 45 days.
Why? Because I call them constantly and I'm excellent at what I do. Now don't get me wrong, there aren't too many things in life that I'm excellent at, but when it comes to pricing and market positioning, on a listing, I am an expert. It's what I do. And I take it very seriously.
Now, a couple of fine points in my above presentation that you may have missed:
Notice how many times I mention 45 days? This is not random. I do it on purpose. I want 45 days to be imbedded in my Seller's mind. It shows them my urgency in getting their home sold. This is a very good thing. Especially if they have been on the market already for 6 months with another Realtor.
- "...not happy with my services, pick up the phone and fire me." What's to think about? They can change their mind if they want to. It's a risk I'm willing to take.
- "...I get paid when you get paid, at closing". This is a word picture. Closing and getting paid. I am getting them to focus on the end result. All good.
- "...Realtor for life", planting the seed for future referrals.
- "...we can extend the listing at the end of the 45 days." I haven't even taken the listing yet and I've already mentioned an extension.
- "...time to earn your trust and your business". What more could a Seller ask for from his Realtor?
- "...What have you got to lose?" "Are you ready to go on the market today?" Asking for the business. The close. This is where some Realtors fail. You must ask for the business. I don't care how good your presentation is, your last question must be the close.
So next time you have a listing appointment, try the 45 days listing agreement. Weak?......I don't think so!
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