Luxury Real Estate Listings Deserve Luxury Service

I had a terrific interview over the weekend with Michael Edlen of Coldwell Banker in Pacific Palisades, California. Michael is one of the top real estate producers in the country with over a $110 million in closed real estate sales for 2006.

Michael attributes his success largely to his commitment to provide a higher level of service to his luxury real estate clients. While the fall out rate for other agents in his service area is 24 percent, Michael's fall out rate is only 5 percent. Not only does he close more transactions, he does so at a higher rate than most other agents.

One of the secrets of his real estate sales success is providing an extra level of service when he takes a listing. He advises his sellers to pay for an inspection of their property that includes a mold inspection plus other environmental issues. This process begins 3 to 4 weeks prior to the listing going on the market. If there is a problem, the seller has the opportunity to repair the problem. It also allows the seller to place the problem on the disclosure statement which means the buyer knows about it prior to making an offer. This is an important point because most buyers will accept problems when they are made aware of them prior to writing an offer. Of course, they will want to inspect the property to make sure the problem has been addressed, but in many cases, Michael says many buyers don't even bother to do that.

During this time, Michael also has the house staged as well as taking care of the termite and other inspections. While the buyer is not getting a new house, they are purchasing a house that is as trouble free as possible. If you haven't implemented this approach in your business, now's a great time to do so!

Tune in to our Listen and Learn Program to hear Michael's interview on this topic plus much more.  (www.RealEstateCoach.com) If you have a referral for the Pacific Palisades or surrounding area, you can reach Michael at 310-230-7373 or email him at Michael@MichaelEdlen.com

Posted by Bernice Ross