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Are you finding gold in your prospecting or are you coming up with Fool’s Gold?  What’s the difference?  The difference is in simply understanding what’s going to sell in today’s market.   In most parts of the country, inventories of homes for sale are at an all time record high.  Even so, there are thousands of homes selling in every market.  The ones that are selling are the gold.  The rest are fooling you into thinking you have a sellable listing.

How to Know the Gold

Sellers fall into two categories.  One of them is gold, the other is fool’s gold.  The golden opportunities are with sellers who ‘HAVE-TO Sell’— not the ones that ‘WANT-TO Sell.’  Agents who know the difference are the same agents who have all the pendings right now.

A ‘HAVE-TO Sell’ seller is a seller who is no longer in control of the situation.  Circumstances are dictating that they ‘HAVE TO’ sell.  These are motivated sellers who will allow you to price the home in such a way that it will sell, sellers who will complete the required repairs if necessary.  These are sellers who will listen to the expert, professional advice of a well-trained and polished real estate professional.  Use this quick guide to determine of you’re listing Gold or if you’re being fooled…and fooling the sellers into believing their home will sell.

Have-To Sell Sellers:

* Financial constraint is forcing them to downsize into a smaller mortgage or into renting.
* Relocation: Their company has told them they WILL be moving, and when it needs to happen by.
* Divorce: Unfortunately, many divorce decrees dictate that neither party keeps the home.
* Physical or health challenges: The elderly couple who cannot safely navigate the staircase in their current home.

Fool’s Gold

These are the listings that simply will NOT sell in this market.  A ‘Want-To’ Seller falls into this category.  Be wary of the non-motivated seller for they are the same sellers who place unrealistic demands on your time, energy, and marketing dollars.  Most of the stress in any agent’s life comes from this category.  Phrases  to look out for:

* “I’ll sell if I get MY price.”
* “I’ll only sell if I can find the perfect home.”
* “Let’s put it on the market and see what happens.”
* “If it sells, it sells, if not, that’s fine with us.”

In a market full of well-priced REO listings and Short Sales, your best listings have to be with sellers who are serious about selling.  Sellers who will listen to reason when you are recommending price, sellers who understand that the condition of the home must be nearly perfect.

Common Prospecting Mistakes
Once agents understand the gold they’re prospecting for, the biggest mistake commonly made is simply not asking enough questions to find the true motivation.  By looking for the real reason a seller is selling and how you can best assist them, you must dig deeper.  For example, the seller who says ‘I will sell only for MY price,’ may be basing that on the fact that they owe three or four back mortgage payments.  Is this seller a short sale candidate? Is there a way you can help them now that you know they indeed ‘HAVE-TO’ sell?  Dig deeper and you’ll find the golden opportunities to help the people who need you most in this market.