When to Walk Away from a Real Estate Listing Appointment
While you should walk into each real estate listing appointment with the goal of getting a listing contract signed, you should also be ready to walk away from certain listings. Some listings, for reasons covered below, simply aren’t worth your time and energy as an agent. Learning how to spot these listings will save you some serious hassles and preserve your valuable time so you can take on the listings that actually are worth seeing through. Here are a few of the real estate listings you should consider walking away from.
The Real Estate Listing with the Unreasonable Price
Not all sellers are able to come up with realistic prices for their homes. Without help from realtors, most homeowners list their homes way too high to sell in any reasonable amount of time. Thankfully, with some research and a thoughtful explanation, you can usually bring the price down on a real estate listing.
When you can’t, however, you’ll probably be wasting your time by taking on an overpriced listing. With showings, calls, and all the other tasks you’ll need to complete in order to fulfill your responsibilities as a listing agent, you want to take on listings that you can realistically sell in a reasonable amount of time. If not, you’ll simply wind up with an expired listing and an unsatisfied client.
The Real Estate Listing with the Unpleasant Seller
A lot of sellers are going through some rough times. Divorce, death, and financial troubles are all common catalysts for selling a home, so the sellers you work with won’t always be at their best. However, regardless of what sellers may be going through, they don’t have the right to treat you like dirt.
If you’re at a listing appointment with someone who is rude or just plain mean despite your best efforts to build rapport, you shouldn’t write the behavior off. While there’s always a chance the seller is simply having a bad day, it’s more likely that this behavior will continue over the course of your professional relationship. Weigh the value of the potential commission against the time you’ll have to deal with this seller’s bad behavior before deciding to be their agent.
The Real Estate Listing with Unnamed Issues
The average seller is forthcoming about problems with their home, at least with their listing agent. When a seller isn’t willing to divulge the known issues with their home (every home has a few), you should be alarmed.
As a listing agent, your obligations lie primarily with the seller, but it’s not exactly ethical to hide potential problems from buyers and buyer agents. If you take a listing with someone who is unwilling to share pertinent information with you or potential buyers, you might find yourself in an uncomfortable situation.
Ultimately, while it feels great to close the majority of your real estate listing appointments, it’s not a good idea to close on certain listings. Don’t let a potential commission cloud your judgement when the time comes to decide whether or not signing on with a new seller makes sense.
Pat Hiban is the author of NYT best selling book “6 steps to 7 figures — A Real Estate Professional’s Guide to Building Wealth and Creating Your Destiny”, founder of Rebus University and the host of Pat Hiban Interviews Real Estate Rockstars an Agent to Agent Real Estate Radio Podcast with Hiban Digital in Baltimore, Maryland. Follow him on Facebook or Twitter.