Beaverton Oregon Real Estate: Don’t extend that listing contract if…

By
Real Estate Broker/Owner with Respect Realty LLC 200311024

Yesterday I went on a listing appointment with a person that had had their home expire after 284 days on the market. They had 10, count them, 10 extensions of that listing contract! Why, did this person keep signing things with this other agent, even though they weren't producing results? Because the listing agent kept making promises and the seller kept feeling guilty and would sign an extension.

Have you ever seen someone where you work that doesn't do a thing until they think they are about to get fired, and then present themselves as employee of the year, so they can keep their job? Well, in real estate, we have some of those same people and they will do anything a few days before the expiration of a contract to keep your listing.

This seller told me, "I didn't like the agent, he didn't do a thing besides put it in the MLS. It wasn't until days before it was set to expire that I saw flyers and got an open house. I decided to extend the listing, since he was now doing the things I was told I was going to get when I originally signed with him. But, then as soon as I signed, he went back to his old ways. Then there were promises of an offer coming in to get me to sign and extension and other agents holding opens for him. Finally, I got the hint and after 10 extensions. I knew he wasn't going to produce a sale of my home and let it expire and called you. I found you on the internet and had seen a couple of your signs around, so I thought I would sit down and at least discuss what you proposed for my house and what it would take to get it sold."

So sellers, if you get a feeling about an agent, go with your gut, and don't sign an extension. If you like your agent and they are doing everything you expect and you just think it is just price, then keep your agent and lower the price. But, if you think it is time for a change, please give me a call, I would love to talk to you about your home.

FIND OUT YOUR HOMES VALUE TODAY

 

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Topic:
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Location:
Oregon Washington County
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Tags:
realtor
expired listings
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washington county real estate
tigard oregon real estate
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Rainmaker
236,076
Debbie Summers
Charles Rutenberg Realty - New Smyrna Beach, FL

Todd - I'll never understand this...  Entering a home in the MLS is not marketing.  There are a lot of reasons that homes expire, and I pursue plenty with awful photos, no marketing, etc...  I never understand why these folks relist with these agents... STOP THE MADNESS!

May 28, 2008 03:21 AM #1
Rainer
143,531
Wendy Montoya, REALTOR® Broker Associate, 254-315-4906
Towne Adams REALTORS - Waco, TX

You are more than right about trusting your gut and instincts. If sellers are not sure or have bad history or feelings about their agent, maybe they should try someone new.

It can go the other way too. Maybe as an agent it's not the best idea to accept an extension. Maybe the price is wrong, maybe the sellers are uncooperative, you get the picture.

It must be a parternship to make it work right.

May 28, 2008 03:32 AM #2
Rainmaker
819,480
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

TC,

Another good post by THE MAN from Oregon!!! Thanks,   Fran

May 28, 2008 03:33 AM #3
Rainmaker
1,852,056
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Todd

Now they can have a great broker like you.

Sincerely

Tom Braatz

May 28, 2008 07:00 AM #4
Rainer
68,842
Judy Tuscano
Prudential Verani Realty - Nottingham, NH
NH Real Estate Professional

Todd - It is a wonder why this happens? I guess some people are easy to guilt into signing on the dotted line. I don't like guilt.

May 28, 2008 11:00 AM #5
Ambassador
1,860,231
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Marc, it seems like the seller would try new agents just to get more marketing dollars and a fresh approach. This one didn't make sense. So long on the market.

May 28, 2008 01:41 PM #6
Rainer
304,164
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Hi Todd,
Go figure!  That agent must have had a talent for "doling out guilt trips". 

May 28, 2008 01:45 PM #7
Rainer
110,262
Linda Scanlan
A Fan of AR - Burleson, TX

Todd, well said. It always amazes me when people hire people who do nothing for them! I spoke with a woman last year who thought she had an "an amazing agent" and loved her dearly...she didn't even realize that there was only 1 picture on the MLS of her 2 listings of over 700K each and that one of them had expired 2 months earlier...yep, that agent sure kept her in the loop!

May 28, 2008 10:12 PM #8
Ambassador
2,070,205
Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

Debbie - I think it is amazing how many people expect there house to sell by having a sign and a MLS#, unless you have an amazing price, location or home...Which most of us don't, it will never sell that way!

Wendy - I have walked away from a few listings that is for sure, if you aren't doing what you need to do to sell the home, there is nothing I can do or say that will help it sell either.

Fran - Thanks!

Tom - I would love more and more to say that as they expire!

Judy - I wish people weren't pressured to sign by guilt, I have found that guilt is usually caused by someone else trying not to take the blame for something they did or didn't do and putting it on someone else for their own gain.

Gary - I wish it wasn't true, but here is the numbers below.

Cynthia - I don't know what it was, but 284 days on this home was way too many and they had it way over priced to begin with!

Linda - 2 months off the market and she didn't even know it? Dang, that agent sounds like they were embarrassed to call their client as they should have been.

May 29, 2008 04:01 AM #9
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