Accumulating as many listings is clearly the aim for most real estate agents. Some clients however, just won’t be worth the time, effort or potential revenue.
There are several factors that might make you decide not to take on a listing, some of which we’ll look at below.
1) When The Seller Things They’re The Expert
Ever wondered why real estate agents exist? It’s because they’re the experts, not the seller of the house. Sure it’s their house and they know the area, but the agent will know the local market – including sales trends.
If a potential client can’t see the value in your professional opinion, then this can be a serious red flag moment. Resistance from a potential client is a warning sign that professional advice won’t be taken heed of, and therefore it won’t be a fruitful working relationship.
Some sellers might also want to take extra control over the selection of listing photos, or how the advertising is worded – which might be worth you taking a step back to determine whether what they want lines up with your brand.
2) When Values Clash
If your values don’t align with the seller, it might be time to knock the relationship on the head – good business relationships come down to being able to share values. This is why it’s a key idea to get new vendors to fill in a survey before you agree to take on their listing.
Surveys give the agent a better perspective on what the objectives of the client might be – so if they select “low fee” for example, it may be a warning sign that they’re all about saving money – not making money.
Alarm bells might also start to ring when a seller asks for the agents opinion, then does the opposite – there’s a clear clash of values and as such the relationship will surely break down.
3) When Price Expectations Are Too High
We all want to sell our property for as much money as possible, but sometimes having unrealistic expectations can be a killer when it comes to listing a property.
If a client is unwilling to trust your judgement on the valuation of their home, you’ve got a warning sign that there’s going to be a rocky relationship ahead. These are the kind of sellers you should avoid like the plague, as they’ll likely result in an unsold property.
4) When The Property Isn’t Safe
Sellers have a duty to make sure that the property is safe for others to enter. If this is not the case, you should just not take the listing. You don’t want to put yourself, your staff, or potential buyers into danger on entering.
It’s advised that you decline the listing until it can be made safe, but failing that just don’t take it at all. Cluttered hallways, unsafe foundations and previous house fires are all warning signs here.
5) When You’re Too Busy
Sometimes you won’t be able to accept a listing because you’re too busy – it’s as simple as that. You’re only human and as such, taking on too many listings might mean you can’t perform to the best of your ability for existing clients.
At the end of the day, you need to keep up a high standard of work so that your long-term relationships and reputation aren’t damaged – especially for the risk of some short-term gain.
6) When The Property Isn’t In Your Area Of Specialty
Some clients will want you to sell a property of theirs that isn’t your specialty. If this happens to you, don’t be afraid to recommend someone else to them, rather than trying to plug away at a property that you can’t manage.
Ask yourself “am I the best person to sell this property?” If you’re a residential agent, don’t go trying to sell commercial properties if you don’t know anything about the commercial property market.
The best option is to refer another or a more suited agent, so that you are still providing helpful advice – so you still retain credibility and a good relationship with client. Check in with them now and again, to make sure they are happy with the service they are receiving from the other agent, so you are still perceived as the go-to for future referrals.