Turning your property over to a broker? Not so fast.
Stay in real estate long enough and eventually there’ll be a property stalled in inventory past its “Sell By” date and investor fatigue creeps in.
Maybe you’re tempted to hand it off to a broker.
Can we talk about that first?
Too many brokers are going to do little more than you already are: install a property sign, post a Loopnet ad, follow up with phone calls.
Seriously, who are they going to reach you couldn’t?
Look: these days where broker populations likely outnumbers properties for sale, picking the right one, well, even with a scientific approach, good luck with that. The Heatley Capital science is a barrage of “hot seat” questions to pick apart the broker’s pitch they brought to the interview.
My fave: “You’re asking for 12 months to sell my property, but with all the things your company and our property has going for it, how can that possibly use up a whole year? If all I wanted was to sit on my property for another year, excuse me, I’ve been doing pretty good at that without your help.”
But forget all that. What happens after the hot-seat session is where your attention should be directed.
Who wants it the most?
Can sell you their idea?
Hello: if they can’t sell you. . . they can’t sell your property.
A so typical voice mail you never want to hear: “Hey Mike, just touching base to see if you’ve given any more thought to my listing proposal, gimme a shout when you get a chance.”
So sheepish and so wears me out.
Really, you can’t engage me more than that?
Actually, señor, I was counting on YOU giving it more thought, like mapping out on paper your latest idea for selling my property –breaking news, strategies, fresh angles, politics, prospects. Is it an absolute requirement those be suppressed?
Oh, and if it’s not asking too much, I’d like to see a bit more excitement and persuasion than that of a single cell organism.
Like: “Mike, I’ll be by with documents next week to firm up our marketing agreement on selling your property but more newsworthy is, several conversations with potential buyers since our interview may change how we position your site to more accurately target your audience. Next Friday 2 pm sound good?
Dude, if you’ve not the confidence to go there, if you’re not anymore sold on my product and your talents than that, please, take me off your list.
I’ve no time for blood suckers.
(And you shouldn’t either.)