Real estate agents can’t sell a property if it doesn't make sense for the market or if they can’t convince sellers to make the needed changes. How can you uncover the hidden motivations of your seller and speak their language? What types of listings aren’t worth your time? And what should you do if you’re just getting started? In this episode, we answer questions about listings, buyers and how to become a listing agent.
Clients are hiring us to lead them to results they can’t get on their own. -Matt Johnson
Three Things We Learned
How putting our clients first leads to lifetime value
Listings can work as lead generators because when we do great job sellers will talk about us. Sometimes we get recommendations from sellers even if we don’t get the listing, especially if we advise the buyer or seller against our self-interests while other agents don’t.
Be selective with the listings you take
You shouldn’t try to get the listing at any price. Some listings are overpriced, and just getting the listing and a sign in the ground with your name on it won’t land you a testimonial if you don’t manage to sell the property.
The splits between the listing agent and the buyer’s agent
The splits between the listing agent and the buyer agent should be dependent on the costs. If the listing agent covers the marketing and advertising costs and the buyer agent doesn't contribute to those, it only makes sense for the listing agent to have a bigger split.
Many new agents make the mistake of saying yes to overpriced listings just so they can gain experience or have a sign in the ground with their name on it and attract buyers. But you don’t need to take a listing and invest money in marketing and advertising just so you can attract buyers. You can attract them by working as a buyer’s agent and actually making a commission instead of investing your time and money on a property that won’t sell or damage your reputation.