5 Real Estate Shortfalls and how to Avoid Them

Any real estate agent will tell you that time is money. And mistakes can be costly. By avoiding shortfalls, such as an unimpressive pricing presentation or inadequate marketing strategy, agents can significantly increase their chances of kicking that ball across the goal line.

Here’s how to easily avoid those shortfalls with simple tips and tools from Realtors Property Resource® (RPR®).

1 Not … having your pricing game down.

Shortfall: Coming in with a list price above value, while it may be attractive to the client, may lead to a stale listing in the end. Coming in below fair market value, on the other hand, might not be enticing enough to land the listing.

Solution: Hit the bull’s eye on perfect pricing with RPR’s comp analysis tool. This step-by-step wizard walks users through the process of validating basic facts about a subject property, selecting comps and adjusting those comps to yield a customized and flexible pricing strategy.

2 Not … marketing your listing properly.

Shortfall: Online ads, photos, postcards … oh my! Today’s buyer starts online, and depending on the agent’s marketing effort, will then visit an open house or reach out to the agent.

Solution: Get a jumpstart on your marketing with RPR’s One-page Property Flyer. This simple, comprehensive one-page flyer is perfect for direct mailers and posting around your geographic farming area. Also, don’t forget to incorporate market data from RPR into your postcards and other marketing pieces. When you’re ready for your open house, the Mini Property Report and Neighborhood Report make the perfect prospect takeaways.

3 Not … acting on that FSBO down the street.

Shortfall: You’re on a showing with a buyer who spots a FSBO in a highly desirable neighborhood. Naturally, they want to know more, yet without listing information, you have little to offer.

Solution: RPR Mobile™ leverages the power of your smartphone or tablet with the strength of RPR. By downloading the free app, you can instantly view nearby properties; and get listings, owner info, sales, valuations, tax, mortgage, school stats and market trends. So, while “at the curb,” simply activate your RPR app. Your GPS will instantly pinpoint where you are and all you have to do is select and view the FSBO property to get the information that your client is looking for.

4 Not … making minor repair recommendations to your client.

Shortfall: First impressions count. If a property has a loose banister or debris in the front yard, potential buyers will notice, likely making it more difficult to find a buyer.

Solution: At the time of your listing appointment, make sure to offer recommendations for small repairs or home upgrade jobs that the homeowners can do with your consultation. Staging the home is a critical part of the job, and could result in a higher valuation for your clients.

5 Not … preparing your clients.

Shortfall: Your clients just had their kitchen remodeled, including having custom appliances installed that they plan to take when they move. By keeping the kitchen as is, potential buyers may end up loving all of the enhancements as much as your sellers; becoming a point of contention for a seemingly easy transaction.

Solution: Have your seller replace new appliances with generic ones that can be sold with the home. This way, buyers won’t become attached and use these fixtures as leverage during the home selling process.

And there you have it. Did we miss something? Let us know down in the comments section.

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29 Comments

  1. Ronnie DeWitt October 21, 2015 at 6:45 pm - Reply

    Tried doing a market analysis with RPR. Where’s the AWC portion of the equation? Didn’t see it. Can’t do a market analysis without AWC but maybe I am just missing it?

    Tx

    • Aaron Flatt October 27, 2015 at 3:33 pm - Reply

      Hi Ronnie,

      Great question, it really depends on the MLS if the AWC listings are mapped to appear as on or off market, and active or pending. For Realtor Association of Sarasota and Manatee, their Active with Contract listings are mapped to an active status. So when viewing those listings they will display For Sale, then with grey text next to the flag ‘Active With Contract’. Hope this helps.

      Thanks,
      Aaron

  2. f June 6, 2016 at 6:46 am - Reply

    My older sister is about to become a real estate agent and so I am sure that these five shortfalls are going to be things that she will want to avoid, especially the one about marketing. However, I’m not too sure how an online ad could be a pitfall. Could something really be a pitfall if it is online and where the buyers are?

    • Aaron Flatt June 6, 2016 at 9:13 am - Reply

      Hi there,

      How exciting for your older sister! We wish her all the best as she gets started in her new career as a real estate agent. To get to your question, while it’s not a complete pitfall to use online advertising, we are simply suggesting to take advantage of and to include RPR’s market data with the advertising to build credibility and to stand out in the market.

      Hope this helps, let us know if you or your sister have any questions about RPR as she gets started. We’re here 24/7 at (877) 977-7576.

      Thanks,
      Aaron

  3. Jackie Oliver September 16, 2016 at 6:31 am - Reply

    My husband and I are moving so that I can go get my masters degree. We need to sell our home, and we want to make sure we do it correctly from the beginning. I’ll be sure to clean up my house and yard, and make sure there isn’t any sort of debris or mess laying around. I really think that will help give a good first impression on our house to a potential buyer/

  4. jresquival December 8, 2016 at 5:37 pm - Reply

    I didn’t think higher prices attracted potential buyers. I’ll have to keep that in mind if I ever need to sell. I guess the higher price makes the house look more valuable.

  5. john Mahoney December 19, 2016 at 2:00 pm - Reply

    I agree that replacing appliances with generic ones before the house is put on the market can help solving any potential problems. I can understand how people would look at the appliances you have taken pictures of and think that they will get them as they buy your house. It is important to make sure that potential buyers know what they are getting and not have any mistakes that could ruin the deal. I will make sure to start this before I put my house on the market. Thank you for the advice.

  6. Luke Smith January 17, 2017 at 2:42 pm - Reply

    I never would have thought of the possibility of a beautifully remodeled kitchen ending up being a point of contention in a transaction, so I can see how important it would be for a real estate agent to think of things like that for their clients. As the adviser with experience in selling and buying homes, I feel like a good agent would be able to spot and trouble shoot any potential issue like this before it becomes a fully fledged issue. Foresight like that is definitely a quality I would look for in a real estate agent.

  7. Burt Silver February 10, 2017 at 7:28 am - Reply

    Thanks for mentioning that suggesting minor repairs to your client is an important part of being a real estate agent. My wife and I have been looking for an agent to help us sell our home. We have had a hard time finding one. These qualities seem like they would be really beneficial for a real estate agent to have. We will look for them.

  8. PPPCapital March 14, 2017 at 3:53 am - Reply

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  9. The Emerald April 7, 2017 at 7:37 pm - Reply

    I entered the real estate product. This is a valuable lesson for me. Thank you very much for your sharing

  10. Barbara Herbert May 3, 2017 at 9:07 pm - Reply

    Most buyers now are practical and they start to search for the lowest price first. Out-pricing your competitor is a big thing by making your home look more valuable in a cheaper price.

  11. Ivy Baker June 28, 2017 at 7:06 pm - Reply

    I liked that you talked about how you need to have your budget nailed down before starting. That does seem like it would cause a lot of trouble for you in the long run. Personally, I wouldn’t want to worry about getting falling in love with a home that I can afford.

  12. Marek Stachura November 19, 2017 at 9:10 pm - Reply

    In real estate, a little mistake can take you to a low level. With the useful strategies given in the article, any real state person can overcome the shortfalls and gain much profit. With the help of RPR app in the mobile, you can view nearby properties; and get listings, owner info, sales, and latest market trends without the help of any real estate agent. Keep it up!

  13. Taylor Lovett January 4, 2018 at 9:51 pm - Reply

    As a listing agent, why would I want to show a client an FSBO house?

  14. TurnCurvy.com September 6, 2018 at 11:02 pm - Reply

    Hey there! This post could not be written any better! Reading through this post reminds me of my good old room mate!
    He always kept talking about this. I will forward this write-up to him.
    Fairly certain he will have a good read. Thanks
    for sharing!

  15. Caden Dahl December 18, 2018 at 8:18 pm - Reply

    I’m in the process of selling my house and I think that I’m doing something wrong. Chances are, I probably have the pricing set too high as I really don’t have that good of an idea of how the market is around me. As you said, it would be best to get outside help when deciding on a price since us homeowners don’t have that good of an idea of what to set that at.

  16. Marks Edward April 1, 2019 at 2:35 am - Reply

    I love the strategies that you have shared in this article I will definitely try this. Thanks a lot.

  17. Sandy McAdams July 11, 2019 at 4:03 am - Reply

    Real estate business has many risk factors. Newbies should be very careful while making any major kinds of investment in the real estate business. The condition of the market should be analyzed and the suitable business strategy should be developed to cope with different types of risk factors associated with the real estate business and to make a profitable deal. Besides, a newbie should follow different types of blogs related to the real estate business which could be very helpful to improve the real estate business.

  18. nilima August 9, 2019 at 3:22 am - Reply

    I will surely implement this strategies.. thanks for sharing and keep sharing.

  19. Homeia September 30, 2019 at 9:01 pm - Reply

    Thanks for mentioning that suggesting minor repairs to your client is an important part of being a real estate agent.

  20. Deniel January 2, 2020 at 5:20 am - Reply

    Thanks for sharing this useful information with us. It’s really interesting and more informative. We are also Arizona city real estate company that specializes in that buy your house in ANY condition. Keep Sharing.

  21. Ethan February 23, 2020 at 11:50 pm - Reply

    Thanks for sharing this very useful information with us. It’s really interesting and more informative. thanks again

  22. Ethan February 23, 2020 at 11:51 pm - Reply

    Thanks for mentioning that suggesting minor repairs to your client is an important part of being a real estate agent.

  23. Marijan April 7, 2020 at 10:08 pm - Reply

    this real estate article is very useful & informative. thanks for sharing this with all

  24. Kevi Bratch June 8, 2020 at 4:37 am - Reply

    Amazing strategies that you shared in the Post. Thanks a lot for sharing…..

  25. rachel frampton March 7, 2021 at 8:17 pm - Reply

    My sister would like to buy a residential property, which is why I told her that it will be smarter to hire a real estate attorney that will help her with the contract signing. Well, I guess you’re also right that it would be best to incorporate market data from RPR. Thank you for sharing here that she may download an RPR mobile app, which will provide her with various properties.

  26. Ellen E. McCullers March 8, 2021 at 5:10 am - Reply

    Thank you, narrpr , for putting together everything in Not having your pricing game down. I think you have covered all the major points in this article, I will share this with my network as well.

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