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Chasing Million Dollar Deals And Forgetting Your Bread And Butter Real Estate Listings.

    

There is an expression in hockey about "there are no ugly goals." Real estate sales are like that.

I have never listed a property I did not want to sell. But what if a broker has an "ah ha" moment? Decides he or she is better served to only sell, go after and market the big ticket properties? Especially in a rural areas of the country where moderate priced property is what moves. Disappointment and heart break are around the next corner. Don't stop having the higher priced properties in your inventory to market and promote. But swivel your head and study the local property turf.

    Think about the high end real estate listed now. Yours or brand X's. And if the prices are so high they are not going to sell, have no hope of appraising if a bank is involved, those listings are stealing resources. Your time, money, attention. Over priced property listings of any kind with non flexible sellers with a high crank factor, a short fuse or hair trigger when the sale gets bogged down steal the thunder, plungersizzle of your passion to promote property, your area, your brand. Their expectations are too high fueled by you agreeing to the listing and suddenly what is the Allman Brothers song about "Not Your Whipping Post"?

    

Those listings plug the real estate pipeline and you have to field those calls, visits on what's wrong with you, how come my palace in a Mayberry has not sold yet punk?"

     At a radio station I worked at in Bangor Maine back in the 70's, the format was basically top forty. But it was cool to have an image as a rocker to broaden the listening market to include the 18 to 34 years olds in the accumulation stage of their lives. To play a lot of hard rock would alienate the other middle of the pack listeners. So carefully, something a little out of the top 40 stream would be slipped in to the color chart rotation. Red songs were hits rotated every 2.25 hours. Browns were losing their chart status, cooling off and in a 4 hour rotation. Greens were new promising songs weaved in one an hour. Golds were the memory makers that took you back to happy earlier times. Purples were a once in a while insert record and had a large supply to draw from. The image song was black. Usually  a Led Zeppelin, Pink Floyd record that was a trick to tone down, weave in to the rotation between ELO and Fleetwood Mac's newest hit. The tunes were played at 47 not 45 rpm so when you heard the same hit on another station cross city, it sounded slow, dragging. It was. This allowed an extra song or two to be played each hour so you could literally claim "Z-62 plays more music. All the time." We used an image song no one else was playing to distance ourselves further from the competition on the air waves.

     Does it look good to have high end real estate in your inventory if it will not sell? Isn't that like a corvettetrophy wife, or a status attitude? Or the small town car dealership in a minimal wage area with a Corvette sticker priced at $62,999 parked in the glass walled show room to ooh and ahh over? Except with the car, another city dealership down state where the money is could wisk it away. Use the wheels to move it, find someone in another area that can afford the keys.

     Real estate is not like that. It is a fixed base asset (except mobile homes and double wides!) It's not going anyway as a rule. You get a turn if it is a musical real estate brokers "image" listing but you don't kinda, sorta list them to hope to maybe sell the property right? Don't neglect the meat and potato listings in your market. The average Joe and Jane like you and I also work their way up, and there are more sales if volume is your plan. Who wants to sell one property at a time and in small areas like Northern Maine, it's a variety every week. A country ranch, a mom and pop grocery, an acreage that is begging to be subdivided with long long road frontage.

    I love to sell a Taj Mahal property as well as the next broker. But to forget the rest of the listing pack in the process is shooting yourself in the foot in rural America, a place like Maine where the local pay scale won't support the nose bleed price tags. Are you listing over priced high end for some kind of image as being well rounded, with lots of face card, ace listings for show?

Maine REALTOR Andrew Mooers

info@mooersrealty.com | 207.532.6573

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Comment balloon 12 commentsAndrew Mooers • January 30 2010 06:39AM
Chasing Million Dollar Deals And Forgetting Your Bread And Butter…
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