Tough-Love Real Estate Marketing Part 2
After posting my initial Tough-Love Real Estate Marketing entry, a number of people asked me to clarify the details of a Paulia Kennedy's 'honesty talk' and what the criteria was for 'being choosey'.
Paulia explained that, "We first determine how motivated they are (if they really want and NEED to sell). If they say, 'We don't really have to sell' -- then we really do not want their listing. If the need is there, then we spend a lot of time during the interview process explaining the complete process. We want to make sure they are ready to work with us - which means we need their full involvement and participation in order for us to be successful. We consider the seller the No. 1 person on our marketing team."
Paulia continues, "In order to sell a home, there are 3 things that the seller has control of -- the home must be priced right, it must be in good condition, it must be easy to show. If the seller sticks their head in the mud and ignores our advice along with all of the ongoing information that we send them after we enter into a listing agreement, such as the showing feedback reports, the ongoing market reports and the competition home reports then we try to amicably exit our listing agreement. It then becomes only a waste of our time and their own. We also consider the other factors of the property (which are out of our control) -- location, the actual property, etc. -- and determine if we think it has a chance of selling."
Resulting in continued, steady sales, Paulia exclaims that many agents are sending their listings to The Kennedy Team knowing that this Tough-Love approach means that the property has a better chance of selling.
I asked Paulia why outside agents would give up their listings to The Kennedy Team. She explained, "Actually, I think the referring agents' biggest problem is that they do not have good follow-up systems with their sellers. The agents do not keep their sellers involved - which then causes the seller to be disgruntled. At that point, the agent has totally lost the relationship which we work so hard to develop and nurture between agent and seller. So by referring the property to us, I think it is the other agents' way to try to hold on to the deal somewhat and at least earn a referral fee. We also hear from those sellers we take on that they are seeing our homes all over the internet, with virtual tours, etc., and they wonder why their agent is not doing the same marketing for them. All of the internet work is standard marketing for us."
Paulia concludes that, "The Realtors have to work much harder now, and it takes a full team to handle all the work involved with a listing. And it seems to be a survival of the fittest mode now. The Kennedy Team saw this coming and we have been fully prepared."
Real Estate Virtual Assistant to Paulia Kennedy