Realtors are self-employed, which means they are responsible for generating every dollar that crosses their palms. They are out hustling every day to round up clients and close deals. Even when sales do occur, it can be weeks or months before the checks roll in. So, why on earth would I be writing a blog post about how to TURN DOWN business?
Being self-employed also means you have the power to choose who you work with. Some adversity is good for growth, but life is too short to surround yourself with difficult people and scenarios—especially when you have a choice.
Here are 3 good reasons why a Realtor might choose to turn down a listing:
1) Can’t Agree On Price—Sellers typically have an inflated sense of value when it comes to pricing their home. Intangibles such as emotions, memories, and family history all come into play when someone decides to part with their beloved home. All these things can drive up the price in their own mind. If the marketplace, and the recent comps, are pointing to a much lower price point than the seller is demanding, it may behoove you to consider turning down the listing. Anybody can LIST a house, but it takes a pro—and a conflux of positive circumstances to SELL it. That starts with a realistic price.
2) Can’t Agree On Length of Listing—I was at a listing appointment for a million-plus dollar vacation lodge, and the owner wanted to do a 3-month listing very late in the year. In Mt. Shasta and the surrounding areas, it can be a challenge to sell ANY property in 3 months during the winter, much less such a specific, high-end property. One of the things J. Harris & Associates Real Estate is known for is putting a lot of effort and money into marketing our listings. As long as we have at least 6 months to recoup that investment with a sale, it’s a viable risk. However, in this case, the risk was not favorable enough to warrant accepting a 3-month listing. Thanks, but no thanks.
3) The Seller is a Real Jerk—Sure, we’ve all dealt with difficult clients, but there are some people who are such jerks, that you would rather have ten root canals than do business with them for ANY period of time. Hopefully, during your initial conversations and meetings you can suss out the Seller’s attitude and personality enough to determine whether or not you can handle working together. More often then not you discover too late, at which point you have to either suck it up and deal, or fire them as clients.
While pondering the above reasons, I will add this caveat: There are countless Realtors out there all competing for the same clients, and if YOU won’t take a listing, someone else will be happy to. Therefore, one should be judicious when turning down listings.
Sometimes, it just takes an informed point-of-view, clear boundaries, and effective communication in order to come to terms with a challenging seller and keep the relationship afloat. Other times, it’s clear from the start that this will NOT be a successful—or enjoyable—experience. And in those instances, it’s best to run, don’t walk, towards the nearest exit.
Featured Image Copyright: antonioguillem via 123RF Stock Photo.
Nikolas Allen is a Realtor® with J. Harris & Associates Real Estate in Mt. Shasta, California. He helps people through the complex process of buying and selling their homes. For more real estate news and info, follow him on Twitter @nikolas_allen.