Listing Presentation Manuevering

Playing the Card(s) You're Dealt

When you have the facts on your side, argue the facts. When you have the law on your side, argue the law. When you have neither, holler.

--Al Gore

Whenever I compete against another Realtor for a listing (as I did earlier this week), I always like to find out as much as I can about my competition.

Not only does that let me tailor my own presentation, but it gives me a chance to rebut any arguments the other Realtor is making.

So what was my competitor touting in their sales pitch?

The value of a broker with national reach, to attract relocation Buyers.

Great Opening

Why emphasize that?

Because that's what their Broker had to offer.

What they omitted -- and I happily filled in -- was the following:

--Relocation sales, perhaps only 3%-4% of all deals normally, are even less in a soft economy because fewer big companies want to spend the money.

--Of that already small slice, the typical relocation sale is usually a more expensive home (think, big companies and senior executives).

--No one relies on brokers -- relo specialists or not -- to check out housing inventory anymore; they go to Google, Edina Realty, Trulia, Zillow and a hundred other Web sites.

Which was a nice segue into Edina Realty vs. the "national broker": if you want to sell your home quickly, for top dollar, you're much better off going with the company with the highest Twin Cities market share (about 20%) and most local Realtors (about 1,700).

And that would be . . . Edina Realty.

Golden State (CA) Buyers in MN

Not So Golden -- Or Plentiful

Once upon a time -- like three years ago -- having an out-of-town Buyer, especially from an expensive market like California, could be like winning the lottery for Minnesota Sellers.

After all, it's just human nature for Buyers to bid more freely in a market where everything seems cheap by comparison.

Not surprisingly, the converse is also true: it can be tough for local Sellers when the Buyer is coming in from a less expensive market.

Often times, such Buyers need to lose out on a few, coveted properties before they reconcile themselves to paying (higher) local market prices.

CA Downturn Contagious

While the housing downturn and recession have certainly knocked the Twin Cities, they've absolutely clobbered formerly white-hot (and ridiculously overpriced) markets like Southern California.

The result is a one-two punch locally: not only are there fewer, incoming transfers from more expensive housing markets, but the ones who are coming are not nearly as flush as they were just a few years ago.

Just one more reason why it's been an especially challenging market for Sellers of upper bracket homes in the Twin Cities . . .