Danilo Bogdanovic

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Great article and perfect timing! Was in the middle of writing a three part series on the same topic over at Agent Genius. Check it out http://agentgenius.com/?p=7340 Danilo Bogdanovic Real Estate Consultant, Realtor http://www.LoudounScene.com http://www.LoudounForeclosures.com

Days On Market is a ridiculous thing and its use should be stopped immediately. Real estate is the only non-perishable thing that uses anything like it. Do you buy a car based on how long it's been sitting on the lot? Do you buy a TV based on how long it's been sitting in the back of the store? Do you buy a toothpaste based on how long it's been on the store shelf? It punishes sellers for no reason. For example... A seller had a crappy agent that overpromised them and came up with a market value higher than what it really was and the property didn't sell. The seller then fires that agent, finds a new agent and relists the property for the true market value, if not less. Buyers will then either pass up the property because "there must be something wrong with it because it's been on the market for so long" or they think they can low-ball the seller because of the total Days On Market despite it being relisted at an excellent price just a few days ago. Not sure who came up with Days On Market in the first place, but it has no place in real estate (just like it doesn't have a place in other industries). Danilo Bogdanovic Real Estate Consultant, Realtor http://www.LoudounScene.com http://www.LoudounForeclosures.com

It's up to you as an agent to convey to the client why you're worth what you charge (and back it up down the line). How about this...prepare something similar to a Good Faith Estimate. Break down all your costs associated with marketing and selling the client's property and show what your expertise and negotiation skills (the intangible) are worth. That way the client can decide whether your approach and skills are what they're looking for. I have a bottom line and know what I'm worth. If someone doesn't want to pay me what I'm worth, I refer them to Redfin or someone else. Remember...there will always be consumers that want a Mercedes for the price of a Hyundai. If your service and expertise level is that of a Mercedes and you choose to work with such people, more power to you. Personally, I will never do so. But that's what makes America what it is - you can utilize almost any business model you want and there will be a client base of some sort for it. I have nothing against those that work for some other amount than me, whether lower of higher. So why should they have something against me and why should I defend myself against them? Now let's all go earn our commission, whatever the amount may be. Danilo Bogdanovic Real Estate Consultant, Realtor http://www.LoudounScene.com http://www.LoudounForeclosures.com