BiggerPockets

Snatching Victory From the Jaws of Defeat (Part II)

Saturday, October 22

So what was our mistake???

Actually, I discussed this in a previous post: see The Importance of A Listing Agent

Our mistake though was not solely picking the incorrect listing agent initially.  It was also exacerbated by not realizing our mistake and taking corrective action immediately.  For months, three months to be exact, we let the property linger on the market, with the wrong agent, and be passed over while other properties opened and closed escrow, despite their higher prices and lack of upgrades.  We were either paralyzed or mystified, but one thing we were not was proactive.

I made it a personal goal of mine to not do this again.  While we try to be loyal to agents that have performed well, it is a simple fact that certain agents can sell certain areas better than other agents.  Whether it be their comfort level selling the properties features, their ability to market to their social spheres, or their willingness to hold more open houses and do more to market the property than put it in the MLS and forget about it, all of these things will affect the sale.

So, with this, it allowed a new policy to blossom from within Real Estate Legends.  Agents are evaluated on their performance on a monthly basis, and not allowed to continue to list properties they are not effectively marketing.  It is our opinion that this will lead to higher performance, ultimately translating to quicker sales at higher prices.

That certainly was the case with a few recent properties, which you can read about in my next post, “Desert Hot Springs is HOT!”

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