Starting a thread for new agent questions. Maybe we could even have a section in REW for newbie questions (hint, hint mods!)

Here's one to start this off:

I have a listing - my first one ever in fact, and I took the top producer agent in my office on the listing appointment with me so we looked like partners, she explained the contracts and I explained the marketing and I agreed to split the commission with her since she helped me do my first listing. The client only wanted to do a 3 month contract and said he might rent it out after that. The other agent said okay, we have to get our broker's approval on that, but I think she assumed we'd get the rental if it didn't sell. The wording she did in the contract just said there would be no penalty if he withdrew it from the market after 3 months but she didn't put any language about renting it with us.

Today I get an email from the client saying he wants to pull it off the market and rent it. It's been over 3 months. I assumed he meant rent it out with us, and I replied to the email and suggested why don't we leave it on the market AND put it up for rent, so if it sold before it rented, even better. He wrote me back and said no I want to list it himself for rent. So I am about to lose this listing completely.

The other agent is swamped this week due to a certification she's trying to pass and has her exam on Saturday and I need to get back to the client and try to wow him or convince him to leave it listed with us.

Can you guys give me some tips and advice on what you say when you have a frustrated client who wants to drop you?

A little background on the home - we've dropped the price once already by $15,000 and client can't go much lower or he'll be losing money. The market here is slow, but we have had a few showings lately and its been picking up. Not much interest though - the home is in a lower traffic area and is kind of tucked away in a neighborhood no one knows is there unless you mapquest it. By the way he already had another realtor before me too. I have advertised the hell out of this home, had open houses, and done all that I can to show him I am TRYING to sell it. We even offered a buyer's agent incentive at one point but got no bites.

What do I say to him?

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Liane Jamason, Realtor
Keller Williams Realty
Tampa FL Homes|Free List of Tampa Short Sales & Foreclosures|TampaRealEstateGeek.com

Liane Jamason is a Realtor in Tampa Bay servicing St. Petersburg, Clearwater, Tampa, Carollwood, Westchase, Ybor City, South Tampa, Davis Island, Brandon, Riverview, Apollo Beach, Ruskin and beyond!

Liane - Unfortunately, it sounds as though things were left a little vague on the front end (during the initial listing appointment), which simply happens sometimes.

What is the price of the home? Also, how much will it rent for? It sounds like he needs to do something quickly (i.e. anxious to rent or sell it), but I'm not sure why he would want to list it himself for rent unless he already has a tenant in mind. How long was it listed previously?

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Jason Crouch, Broker
Austin Texas Homes, LLC
512-796-7653 (cell)
Austin Real Estate
Austin Texas Real Estate
Austin Homes

I can do that

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He didn't say what he'd rent it for. It was listed originally at $289K with another realtor and dropped to $279K. That was for 6 months. Then listed with me for $265K and we later dropped to $249K. He's frustrated because the home is in Tampa and he wants to move to Orlando, where his job is, and he's driving 1-1.5 hours each way a day. I just don't know what to say to him to try to keep the listing. I got an email back from the other agent who helped me and she seems to think I should let it go because rentals are "hard and don't pay much". What do you guys think? I am just sad to lose the client that was my first ever, even though I have other listings now. I really wanted to help him.

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Liane Jamason, Realtor
Keller Williams Realty
Tampa FL Homes|Free List of Tampa Short Sales & Foreclosures|TampaRealEstateGeek.com

Liane Jamason is a Realtor in Tampa Bay servicing St. Petersburg, Clearwater, Tampa, Carollwood, Westchase, Ybor City, South Tampa, Davis Island, Brandon, Riverview, Apollo Beach, Ruskin and beyond!

That would be cool - let us know what section it will be under!

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Liane Jamason, Realtor
Keller Williams Realty
Tampa FL Homes|Free List of Tampa Short Sales & Foreclosures|TampaRealEstateGeek.com

Liane Jamason is a Realtor in Tampa Bay servicing St. Petersburg, Clearwater, Tampa, Carollwood, Westchase, Ybor City, South Tampa, Davis Island, Brandon, Riverview, Apollo Beach, Ruskin and beyond!

Liane - I actually agree with the other agent in your office. Rentals don't really pay that much and he seems like he wants to do it himself. That being said, unless he has a tenant already lined up, I would imagine he will have a tough time getting the job done alone. You could offer to list the rental for some cursory amount upfront (maybe $500?), so that he will get more exposure on the MLS. You would at least salvage some money for your work if he agrees. However, I would probably let it go if you have other listings to work on. Just my opinion -

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Jason Crouch, Broker
Austin Texas Homes, LLC
512-796-7653 (cell)
Austin Real Estate
Austin Texas Real Estate
Austin Homes

Its best to avoid getting to this point if possible in the first place. Once a person becomes emotionally charged, it can be very difficult to "talk them down" so to speak.

I usually include wording during my initial listing/marketing presentation along the lines of "if there is something you don't like, or would like to see done differently, please communicate those to me - and give me an opportunity to fix/address those areas of concern".




I'm of similar sentiment with the others that have posted in this thread. Its a business for you, and this won't be the last listing that you lose in your career.

Do your best (which sounds like you did) - and you should have no regrets.

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Jennifer Karlen & Jon Karlen
Kentucky Horse Farms - Louisville Kentucky Real Estate - Lexington Kentucky Real Estate
Serving the Louisville KY metropolitan area including Jefferson County - Prospect Shelby County - Shelbyville Oldham County - Goshen, La Grange and the Lexington KY metropolitan area including Fayette County - Lexington Woodford County - Versailles Scott County - Georgetown Jessamine County - Nicholasville

Yeah, I guess its just hard to let anything go since I am new, and I want to do this so badly! Thanks guys.

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Liane Jamason, Realtor
Keller Williams Realty
Tampa FL Homes|Free List of Tampa Short Sales & Foreclosures|TampaRealEstateGeek.com

Liane Jamason is a Realtor in Tampa Bay servicing St. Petersburg, Clearwater, Tampa, Carollwood, Westchase, Ybor City, South Tampa, Davis Island, Brandon, Riverview, Apollo Beach, Ruskin and beyond!

I agree. It's really tough to persuade someone to change their mind when they sound like they have their mind set. I would so this: Acknowledge that they are upset and come to an understanding of why. Ask what could have been done better, offer this to them, and if they still decide, "NO", then move on.

I think that by doing it this way you can at least siphon from the situation what could have been done better - better price strategy, better communication...some reason why he doesn't think he needs your help anymore.

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Steve Castaneda, Realtor
Keller Williams Realty
The MyHomeHouston Team

Specializing in Houston Real Estate. Feel free to visit my Houston Real Estate Blog or read about Real Estate Technology for agents.

It sounds like another overpriced listing. You are not losing anything, you are freeing up your resources so you can apply them to something profitable.

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