Hawaii Randy's Real Estate Opinions: Selling in A Tough Market

Selling in A Tough Market

You read and followed the best advice for getting your home prepared for sale.  You removed negatives by painting, upgrading flooring and counter tops.  You have wonderful curb appeal, you had a landscaper come in and make yours the nicest looking yard on the block.  After reading and watching cable TV you even had your home professionally staged.  So far so good.

Man your home is looking so good.  It is looking so good that you are sure it will sell for more than the others in your area.  Earth to seller you are leaving the path.

Until now you were doing well.  Here is the problem, if you are in one of the areas that has a lot of inventory, your home will not sell if it is over priced.  You will compete with many desperate sellers that will do almost anything to sell.

Sold SignOk we may be off the path a little, but there is time to save you.

Hire a top of the line professional Realtor to market your home.  What are we looking for?

  • An agent with a track record in the community or subdivision, who has a record for selling homes and not just taking listings.
  • An agent who came prepared for your interview with market data and a marketing plan to get your home sold.
  • An agent who spends time and money marketing homes and not just themselves.
  • Look for professional designations and licenses.  This is a clue to whether they invest time and money in training and whether they take their business serious.
  • Be sure they do this full time and are not hobbyist.

When considering your Realtor, remember this is a relationship that will tie up your property  A Realtor who charges the lowest fee is rarely the highest value.  They usually give the least amount of service.  You will continue paying mortgage while your home is on the market.  All of your plans will be on hold.  Time is money!

Look for an agent who tells you the truth and not what you want to hear.  Months from now when your home hasn't sold you will wish you followed this piece of advice.

As many real estate markets cool, it is not time to bring in the amateurs.  You will meet many desperate agents who will tell you anything to get your business.  They may offer discounts on their fees, they may promise you the moon, the sky and stars.  But in the end, will they sell your home?

As a home owner you need to do your due diligence in preparing your home and selecting a real estate agent.  Good Luck and good home selling!

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 33 commentsRandy Prothero • August 07 2007 01:12AM

Comments

Look for an agent who tells you the truth and not what you want to hear.  This is the most important advise a seller needs to hear...and take to heart. Or they will lose out.

I don't play this word game but this is the second time in the last half hour I got.....NERVOSA....I have a feeling it isn't a fruit  lol.

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Century 21 Liberty Homes) almost 11 years ago
Sally - I walked away from two listings recently, because the sellers had unreal expectations and were not intersted in hearing the truth.  Possibly I will be hearing from them in the future when reality sets in.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy, Reality is the harshest taskmaster of all. Thanks for the post.
Posted by Andrew Trevino, Wilkes-Barre Homes For Sale (ADT Real Estate) almost 11 years ago
Andrew - I find the hardest thing to deal with is all the arm chair real estate expert friends and family who tell them what their home is worth.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago

Price and condition along with a Real Estate professional with a good markeing plan...not one who just practices the 3 P's.

Posted by Renee L. Norton almost 11 years ago

"It is looking so good that you are sure it will sell for more than the others in your area." 

Yes!  If only Sellers would accept the shortened version:

"It is looking so good that you are sure it will sell." 

Posted by Mike Jaquish, 919-880-2769 Cary, NC, Real Estate (Realty Arts) almost 11 years ago

Randy.... so true in regards to if your house is looking good, but if over priced in an area with lots of inventory, it still won't sell.....  usually...   People will slightly overlook the house if they can get a deal. It's just human nature.

jeff belonger

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) almost 11 years ago

Renee - That makes a big difference.

Mike - It is sometimes a hard sell.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago

Randy - you're too young to be so wise! You are 100% correct. In my market there are too many agents who want to "brand" themselves to get the most listings. These agents are not taking care of their listings because they're too busy trying to get more listings. The consumers in our area are getting frustrated!

I say "let's do all we can to get your home sold!" If an agent takes care of that, then the listings and money will come in. People want results....not just a pretty business card with all the fluff.

The market is slow and people want a professional who can get the job done!

Posted by Linda Scanlan (A Fan of AR) almost 11 years ago

Randy,

Same story of my life everyday I go on the listing call...tell it like it is...no sugar coating from ...I am tired of taking unsellable inventory.

Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) almost 11 years ago

Linda - You are right on the money.  I met a real estate agent last year while in Wisconsin.  He said he had 40 active listings in the Green Bay area and not one closing in months.  He was a dealing cards in the casino to pay his bills.

How would you like to be his client?  I wonder what his sales pitch would be to get number 41?  Signs and lock boxes must be getting awful expensive.  Instead of dealing cards he should consider getting in the sign making business.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Neal - I have made a business decision that I am not so hunger as to take a listing that I can not sell or am willing to pay for top of the line marketing.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy - the particular agent I'm thinking about brags about the fact that she carries so many listings. Her goal at the first of the year was to have 50 active listings at one time - she's almost there. But, when you go to the MLS and look at her expired listings and cancelled/withdrawn listings her numbers are way up there. I never heard her say that she was trying to take care of the client...she only wanted numbers in her listings package!
Posted by Linda Scanlan (A Fan of AR) almost 11 years ago
Randy - IMHO the key words "An agent who came prepared."Professional Realtors know the market, are prepared to present the facts, and move forward. They are the ones who sell houses! 
Posted by Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC, ... a small office, delivering big service! (Waters Realty of Brevard, LLC) almost 11 years ago

Randy,

What a great piece for consumers, this is a winner! :)

Posted by Suzanne Sands, Somerset MA Real Estate (Pavao Real Estate) almost 11 years ago

Very well done, Randy. I like your opening setup and reality check.

Lisa Hill

Posted by Lisa Hill, Daytona Beach Real Estate (Florida Property Experts) almost 11 years ago

Linda- That is sad.  Her clients I am sure are not going to give her many referrals.

Gary - Absolutely

Suzanne - Thank you

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Lisa - Thank you
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy, I agree completely with your statement about "Look for an agent who tells you the truth and not what you want to hear", and I would give the same advice in picking a Loan Officer.  
Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 11 years ago
Randy, AMEN... couldn't agree more with your advice!
Posted by Irina Netchaev, Pasadena CA Real Estate (Pasadena Views Real Estate Team, Inc.) almost 11 years ago
Randy-Heck yeah!  I am proud to say that I turn down many more listings than I take.  The other suckers can have the overpriced listings with the unreal seller expectations.  I dont waste my time with those.
Posted by 1SG (Ret.) David Kucic, President and Owner (Hawaii Military Realty, Inc.) almost 11 years ago
Randy,

Great information to consumers with a great Realtor, it is like 1,2, 3 right ? :) keep the good blog !

Ray Saenz
Posted by Ray Saenz, Homes for Sale in Laredo, TX - Texas, Realtor (Exit Realty Laredo) almost 11 years ago

George - Absolutely appies to loan officers.

Irina - Thank you

David - We all get a little wiser as we get older.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Ray - Mahalo (Thank you in Hawaiian)
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Someone on my recent post said it well..they will suck all your resources out of you then they pick the next miracle Realtor(R) and use their resources.
Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) almost 11 years ago

Neal - That sounds about right.

If the seller is not willing to be reasonable during the listing appointment, don't bet on them changing later.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy, great advise to sellers, and realtors who wish to remain ethical     :)
Posted by Diane Velikis, Luzerne County Real Estate (Coldwell & Banker Busch Real Estate) almost 11 years ago
Diane - There are enough unethical folks out there that if they look hard enough they will find someone who will tell them anything.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy, So right on the mark with this one.
Posted by Lysa Napolitano almost 11 years ago
Randy,

and what does it mean  Mahi Mahi ?   does it have a meaning ? let me know :)   there is a plate in mexico that they put that name.

Ray Saenz
Posted by Ray Saenz, Homes for Sale in Laredo, TX - Texas, Realtor (Exit Realty Laredo) almost 11 years ago

Lysa- Thank you

Ray - Mahi Mahi is a good eating fish.  I have heard it called blue dolphin or Dorado in other places. 

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago

Randy,

see ? I was figuring out that thing but I was not sure at all, thanks for the answer Mahi Mahi !!!

Ray Saenz

 

Posted by Ray Saenz, Homes for Sale in Laredo, TX - Texas, Realtor (Exit Realty Laredo) almost 11 years ago
Ray - No problem
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago

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