By Brian Hirtle
A listing is born! We have all been there for that magic moment when it all begins. The listing is initialed and signed by all parties and the true copies are given to the sellers (got to love those rules and regulations).
Then there is the moment of departure when the sellers thank us for our time and advice and we leave with their listing (ours for three months). They wish us well and have every faith that we (the listing agent) or proud surrogate father will guide their listing through to adulthood (the time when it is sold and a sold sign sits proudly atop or across the for sale sign, announcing the final chapter) in the life cycle of a listing.
This is the stuff that dreams are made of, and it almost (I said almost) brings a tear to your eye.
However, maybe I have rushed through the life cycle of the listing and have not captured the baby steps, the coming of age, the change in its voice (male listings only) and finally the graduation and convocation! So let’s go back to where you were exiting with the listing and have that big smile and feeling of self satisfaction of a job well done (provided you have not cut the commission or the property is overpriced – that will hurt).
Fast forward to the office, where you hand your listing over to that wonderful person who will send it on its journey to the MLS, turning it loose on the world to see if it can make it on its own. It’s a cruel world out there, but you the listing agent have confidence this listing has all the necessary components: the right price, great pictures, a super description, and the correct directions. All those agents who see it will fall over themselves in their efforts to sell your listing and make a commission.
Then the first true test of the listing’s worth arrives. A buyer, although not yours, has made the decision to view your new listing. You proudly call the sellers and make the appointment to show it, and the sellers are just so pleased. It has only been two days and here we are with a showing already, and of course you, the listing agent, kindly mention that you didn’t feel it would take very long for the world to notice the newest addition.
With everything in order and the lockbox waiting, the selling agent ushers the new buyers through the front door and the performance begins. This listing has it all, and the oohs and the aahs just keep coming. The selling agent is so pleased, and would be more pleased if it was his listing!
The report comes back on the showing and says it was a great showing and that the agent will be writing an offer this evening. These are the kind of messages that you like to get, and you call the sellers and pass on the message, and they can’t believe their good fortune – one showing and the promise of an offer forthcoming on their home. They knew they picked the right agent to list with, and who are you to argue?
As promised, that evening the selling agent faxes the offer to your office and you just happen to be there to receive it. It’s still early evening – lots of time to deal with the offer. You look it over and everything looks favourable – even the price, which is only $2,500 dollars off the asking price (if only all offers were so good). You call your sellers and they tell you they would be glad to have you come over and present the offer.
Your arrival at their door is most welcome and exciting for them. You are invited in and take a few minutes to rejoice in the moment. To the kitchen table and the actual presentation of the offer, where the attentive sellers hang on your every word and you can see they are more than pleased and haven’t raised any objections along the way. So at the end comes the timeless question: “If we want to accept this offer, where do we sign?” Don’t you just love them? I forgot to mention, this is the seller’s first experience at selling a home. You provide the pen for initials and signatures, telling them to press hard because there are three copies, and you do all the witnessing and proceed to put the final touches on the offer and the acceptance is official. Again you make sure they have copies for their files.
Before you leave, you explain to them again that if all conditions are removed within the next seven days, you will be back to put up that sign of signs, THE SOLD SIGN, to announce to the world at large (the local market especially) that this listing is graduating.
The convocation I spoke of earlier will happen 30 days down the road, more commonly referred to as the closing date, where you get to say a few words, usually along these lines: “I wish all the listings were like this one and I’ll pick up the commission cheque this afternoon at the lawyer’s office.”
Now it’s time to begin the life cycle of a new listing. However, as all listing agents know, we may have one or two troubled ones along the way. Just knowing that we will love them all and never abandon them, we look forward to the future of many new listings. We need them and are prepared to sacrifice time and money, work weekends and take courses. This is what we do, and why we get paid what we do, if we do it well!
Brian Hirtle will celebrate his 30th anniversary in the real estate industry in April. He is a broker at C21 Annapolis Valley Realty in Kentville, N.S. Phone (902) 679-1122.
