I met with a seller this morning. He had been referred to me by a mutual friend. His house was currently listed with another broker and the listing was to expire in a couple of weeks.
As part of my research for our meeting I had reviewed the current MLS listing, ran a CMA, and pulled showing statistics from the showing service.
The marketing of the property looked good with professional photography, a virtual tour, and decent marketing text. The current list price is right where it needs to be. There had been a number of showings on homes in that price range in that MLS area.
As I met with the seller, he related he was unhappy with his current agent. I responded, "It appears she has done a solid job marketing your property. What are you unhappy about?"
He was very candid about why he was changing brokers. He told me that his current agent was more worried about getting it sold than she was about his pricing concerns. I wasn't real sure what he was trying to get at so I asked him to elaborate.
He explained that she had brought him an offer that was 86 percent of his list price and she really tried to convince him to take the offer. He declined. She came back with an offer that was 90% of list price and tried to convince him to take it. Once again, he declined. She finally came back with an offer that was 94 percent of list price. He countered at 97 percent of list price. The buyer declined. They were within $5k.
It wasn't about her work. He felt like she was working for herself rather than for him. Any trust that had been established was lost and the listing along with it.
Are You Working for Yourself or Your Client? The client knows the difference...
Edit - Based upon the conversation, I believe the listing agent was also the buyer's agent and she was attempting to double end the sale.
Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.
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