Exploding Listings. Idiots who write columns and don't sell real estate for a living will tell a seller to get as short of a listing as possible. In their confused little heads, the writer thinks that giving an agent six to twelve weeks will motivate the agent to work harder and good agents should sell property in this time frame.Here's the truth. Sellers lose with short term listings. Agents lose with short term listings. It's the old perverse incentive.
Agents work less hard. In a market where there is five months worth of inventory, chances are less that a property will sell in six weeksl. So agents don't really try, knowing they may be throwing out good money on marketing with no commission at the end of the day.
A lesson on life from Amarillo Slim:
Giving a six week listing is perfectly acceptable....as long as the seller agrees to reasonble terms. Like a price that is below market. A good agent is only going to take this listing if there is a reasonable chance to sell it. Otherwise, a seller has to ask if they want a subpar agent who is too dumb to get away from a loser listing.
Market stat of the day:
Number of 2bed/2 bath, 1300+ sqft Hoboken condos available: 2
0 comments:
Post a Comment