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Why I Turn Down Luxury Home Listings

Posted by Kenneth Lowman on January 21, 2014
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Why would I not take every luxury listing that is offered my way?  When you are running a successful business like Luxury Homes of Las Vegas you sometimes have to make difficult decisions.  Occasionally, I meet a luxury home seller that is unrealistic about their luxury home’s value.  When the desired price is so far above the market price, selling the luxury property is not likely to occur, no matter what I do to market it. I have to resist the temptation to take every listing and respectfully decline.  I spend a great deal of time and money marketing my listings so spending money on a property that has a low chance of selling is not a good business decision.  Taking luxury listings that don’t sell disappoints your clients and hurts the Agents reputation in the marketplace.  Further, I believe in telling the truth about property values so the luxury homeowner can make an informed decision about selling.

Unfortunately, some Brokers will tell their prospective client whatever they want to hear just to get the listing.  Then they hope to wear the client down with price reductions or low offers (that are actually at market value).  I don’t believe this is a fair approach to the client.  Even worse for the luxury home client, it’s usually the Agents with less experience and qualifications who are willing to take a listing over the market price.  In this case the client can get misled about price, and get lesser quality of service than they deserve.  Other Agents think they can play the numbers game and assume if they take 10 listings that maybe 2 will sell.  I would rather take 3 luxury home listings and sell 3 luxury homes!  Being honest and up-front about luxury home values leads to better service to the homeowner, the buyers and the community.  This fits with my mission statement – to provide the highest quality, quantity and spirit of luxury real estate service to my clients and the community.

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