Knowing When to “Take a Pitch”
[Editor’s Note: sorry, couldn’t resist the baseball metaphor, after last night’s dramatic Twins game!]
Just as homeowners must weigh myriad considerations when deciding which agent to list with, listing agents must weigh a host of factors when deciding whether to take a listing.
Yes, that’s right: Realtors turn down listings.
By far, the most common reason is price.
First & Last Realtors
A home that’s priced too high is costly, both in time and energy.
It’s also a drain on one’s wallet: ads, literature, new literature each time the price is cut, endless open houses (or at least requests by the owner).
Although many Sellers are loathe to believe it until they see it with their own two eyes, too-long market time almost always torpedoes their price.
The result is that they invariably get significantly less than what they would have gotten months (or years!) earlier had they priced realistically from the get-go.
P.S.: I’ve never used it personally — it strikes me as too cheeky — but there’s a famous Realtor line (at least amongst Realtors) to use on Sellers who don’t like the price guidance they’re being given: ‘If I can’t be your first Realtor . . . maybe I can be your last.”
Part 2: How Close to the Strike Zone Does it Have to Be?