What's The Value Of A Listing That Won't Sell?

I am amazed at the number of properties that just keep churning listing agents - especially commercial ones.

The prices adjust a little, sometimes not at all. New sign, same story.

When a property is undesirable or overpriced - or both, getting the listing is unproductive.

Sure, every property propbably has some value to someone, but at the right price and at the right time.

I suppose one could make the case that having your sign on the property is good advertising. I could make the case that it's negative branding also.

Many properties just aren't meant to be sold in today's market. This is not 2005. We mustn't fall into the trap of thinking we need to list it or someone else will - let them.

If the right buyer should ever come along, we can still co-broke.

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For more information on my coaching and educational programs and services, visit my website stevehoffacker.com or go to my other blog homesalesinsights.com for additional sales tips, insights, and commentary. You can also listen to my free podcast messages at Steve Hoffacker's Happenings.

© Steve Hoffacker, 2009. All Rights Reserved.

38 comments • Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies • September 09 2009 09:07AM

Does Multiple Representation Help?

I am familiar with a piece of property that has been on the market for several months. Apparently they are going for volume representation.

I know the first two agents who listed this property. Their names are no longer on the property. However, there are 4 other signs currently on the property - all for different firms.

From driving by, it's hard to tell who really has the active listing on the property - or if anyone does. Maybe they're all expired and just leaving their signs in place to try to generate a phone call.

Is this a new approach to co-op selling?

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To learn more about my coaching and educational programs and services, visit my website stevehoffacker.com or go to my other blog homesalesinsights.com for additional sales tips, insights, and commentary. You can also listen to my free podcast messages at Steve Hoffacker's Happenings.

© Steve Hoffacker, 2009. All Rights Reserved.

24 comments • Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies • June 16 2009 11:06PM

Get ready for the perfect storm in real estate that is coming

We’re not there yet; however, the storm clouds are showing signs of forming on the horizon. Hold on, this is not a weather report – it’s a sales analogy.

For the past several months many people who have wanted to list and sell their homes have held off putting them on the market because they were waiting for prices to drop on replacement homes (either existing or new construction), and they needed more for their homes than they thought they could get.

All the while interest rates have been quite low, yet only a few people have participated in the transactions that have been occurring.

Imaging the day that is coming – the day of the perfect storm.

All at once people are going to realize that the bottom has been achieved and that an economic improvement is set to occur. This may be a major news pronouncement or something that people just generally understand.

Then everyone is going to list their home at the same time. Dozens of homes in neighborhood after neighborhood are going to be put on the market. Some will be FSBOs and some will use listing agents.

Prices are going to start high and be poised to go even higher. After all there is all this pent-up demand for their homes and there is a recovery mindset.

What they don’t realize is that there is also all this pent-up supply.

If people think there have been issues with excess inventory, wait until everyone tries to sell their current home at the same time. Prices will fail back to reasonable levels, concessions will be made, and some incentives will be offered until a market equilibrium is reached in terms of supply, demand, and pricing.There still will be those who don't understand market forces.

This is the storm that is coming and hopefully will blow through quickly – when everyone who has been waiting to sell their current home floods the market with listings and tries to get top dollar at the same time.

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For more information on my coaching and educational programs and services, visit my website stevehoffacker.com or go to my other blog homesalesinsights.com for additional sales tips, insights, and commentary. You can also listen to my free podcast messages at Steve Hoffacker's Happenings. © Steve Hoffacker, 2009. All Rights Reserved.

40 comments • Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies • March 14 2009 08:33AM