By Jeremy Williams
I have heard other real estate practitioners say, “If you don’t take the listing, someone else will end up listing the home, selling it and making a commission.” I recently fell into that mindset and regretfully so. After months of actively marketing a property using both my time and money, the seller pulled their listing agreement saying that they just needed a new set of eyes. Despite my early reservations following the listing appointment, in the back of my mind I kept hearing take the listing or someone else will.
Upon termination of the listing agreement, frustration set in, but then clarity shortly followed. I realized I had spun my wheels marketing a property that just was not going to sell because the sellers’ expectations were unrealistic. Being upfront throughout the listing period, I let them know that several changes cosmetically needed to be done to make their home competitive with other homes in the market. I also let them know that the market required being priced correctly. The sellers did not believe that I knew what I was talking about. They held firm and did not pay attention to the feedback received by those that toured, the fact that no one submitted an offer after multiple showings, and for several showings stayed on sight as opposed to leaving, making the prospective buyers and their agents uncomfortable. I knew I was in trouble when I once made a suggestion early on and was called out as being ridiculous.
Why did I take this listing? Why did I not trust my gut? I have turned down listings in the past knowing that I could not sell a home at a particular price, the condition would not bring an offer, or a combination of the two. My mistake was I listened to that little voice that encouraged me to take the listing instead of the little voice that says, “Sometimes it is just not worth it.” I spent a lot of time and money working on something that would not produce fruit. It was not a win-win situation. Though it was a frustrating experience, the good news is that I have more time to dedicate to clients that are motivated to buy and sell homes. Every experience in life, usually in hindsight, can produce a nugget of knowledge that can be applied to future situations. This one taught me not to doubt my gut. The lesson learned was worth it!
Have you had an experience as a REALTOR(R) when you took a listing or worked with a buyer that at the end of that particular experience you asked yourself, “Why did I take this on?”
Jeremy Williams of Keller Williams Realty NE in Kingwood, Texas specializes in the residential real estate market of Kingwood, Atascocita, and Humble, Texas. Visit his Web site at www.williams4yourhome.com.