bringing you a list of comps, which determine the range your home must sell
within.
The CEO of Front Street Brokers was so amazed to see how
following a Value Driven Approach netted tens of thousands more dollars and
reduced the time on market for so many clients, that it drove him and other
like-minded real estate agents to write a book called The Value-Driven
Approach. He also wrote a follow up book to help other real estate agents
called Agent Entrepreneurs – Every Agent’s Guide to What They Don’t Teach
You in Real Estate School, which was the book that first documented the
concepts of the Listing Triangle.
Problem #1:
Real estate agents drop the ball by not focusing on all sides of the
triangle. Agents predominantly focus on price, using a Price Driven Approach
to determine your likely sales price. When focusing on all sides of the Listing
Triangle, we are using the Value Drive Approach to selling your home. We
increase the “perceived value” of the home and this allows us to maximize the
price point of what your home can sell for.
When real estate agents focus solely on a Price Driven Approach and
use the skills they learned from their broker or trainer to persuade sellers to get
them to lower their list price, they’re perpetuating the bad reputation that real
estate agents have earned. How many sellers have you personally heard saying,
“My last agent was only focused on dropping the price”? That’s how people
feel when the only solution an agent brings to the table is a lower selling price.
Problem #2
Another major problem is that homeowners aren’t sure what their agent
does after a property is listed, because agents don’t have a well planned
visibility/marketing strategy after the home is on the market for more than a
couple of weeks. They’re not sure what options they have other than dropping
the price if the home is not selling.
Problem #3
Since there are thousands of real estate agents in every market (the Boise
market has over 5,000 actively licensed agents), there is a lot of competition to
win your business. This fact has created a sales culture of agents telling
homeowners everything they want to hear to get the listing, including an
inflated sale price that is often way too high, at least in regard to how they are
going to market the home to the public. Agents list homes too quickly without
taking necessary steps to maximize the perceived value to homebuyers. Homes
The Listing Triangle™
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