Don't Take a Listing Without This

It's listing season — and if you've ever had a seller who called constantly, pushed back on showings, or acted surprised by things you know you discussed at the appointment, this episode is for you.

Lindsay walks through the seller expectations addendum she uses with every single listing client — a signed, two-page document that gets completed at the listing appointment alongside the listing agreement. Every clause in it exists because something went wrong without it.

In this episode, Lindsay covers:

• Why verbal conversations at listing appointments don't stick — and what to do instead
• The retainer model Lindsay uses and why it filters out sellers who aren't serious
• What to include in your showing expectations (availability, open houses, seller presence, lockboxes, and recording devices)
• Why showing feedback is not guaranteed — and how to set that expectation in writing
• The built-in 21-day pricing review that makes price reduction conversations easier
• How weekly written updates eliminate the "what's going on?" texts
• Communicating your working hours upfront — and why it protects everyone

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Transcript

Compensation And Retainer Buy In

Showings Rules That Actually Sell

Three Week Pricing Review Plan

Weekly Updates And Working Hours

Build Your Own Living Document

Share And Review Request

SPEAKER_00 0:34

Hello friends! It is May, and that means it's listing season. I am Lindsay Dreyer, your host, brokerage owner, real estate coach, mom of three. And I am here to help you hopefully get your life back a little bit. This episode today is perfectly time, in my opinion, because we are in peak listing season where we are going on tons of listing appointments and trying to figure out if we are a good fit for the seller. So in today's episode, we are talking about why I started using a seller expectation addendum. And I know addendum sounds like really strict, but it's really a seller expectation two-pager. And I'm going to go over what's actually in mine. So here's kind of how it went before I had this document. Sellers who had a vague idea of understanding the process, but even though I've explained it, because let's be real, like verbal conversations at listing appointments do not stick. They don't hold because there is so much going on. Like sellers are overwhelmed in the moment. What they quote unquote agreed to doesn't stick when their emotions are running high later. They always come back and they're like, uh, actually, uh, actually, actually, actually. And I felt like there really wasn't buy-in at the beginning. And I wanted to make sure that all of the criteria, all of my like non-negotiables were agreed to up front because I am trying to avoid waste of time. I don't just list homes, I sell homes. And I wanted to avoid sellers who are calling constantly, pushing back on me on like every little thing, whether that's showing times, having assisted showings, using a lockbox, or getting pissed off because we didn't have any feedback. So I really wanted to get this all where like there is a clause for every single thing that I want to avoid. And I'm having the seller initial off on that. So that's what this document is. It's a signed document that sets expectations before the listing goes live. It gets signed with the listing agreement. So I'm going to walk you through the actual document that I use now with every single listing client. And this is not a hypothetical episode. This is a real thing, section by section, because I think the most useful thing I can do is show you exactly what's in it, why each piece is in there. And my hope is by the end of the episode, you'll have everything you need to hopefully build your own version. So, section one, let's dive in. The first section is compensation. And I personally have moved on most listings to a retainer plus success fee model. So I am getting a non-refundable retainer upfront at signing, which essentially is getting that client's buy-in and is preventing them from maybe listing and then canceling later. And then I have a success fee at closing, which is like your traditional commission. I also like to discuss buyer agent compensation. So however that's handled in your market, we're covering that in this section. Um, and also we're covering an unrepresented buyer and what that compensation looks like. Now, obviously, I can't give you specifics on what I charge because that is antitrust violation. So you can go ahead and put whatever expectations you want to call out in this section. So a little bit about the retainer and why it exists. There's a lot of upfront stuff that goes in. And in the past year, I've actually had more listings cancel, like pre-list, like we've gotten cold feet on selling, than I've ever had in my career. And so I really wanted to make sure that I had buy-in before I got photography, before I prepped all the MLS documents, before I got all the marketing materials ordered, before I get the condo documents, like all of that work that we do before a listing goes live. And that retainer has really helped be a filter for sellers who are serious and actually want to sell their property. So, a side note, I have everyone initial each of these sections because I want to make sure that there's a deliberate pause. So I'll explain the section. I will have the seller initial that section and then we're moving on to the next section. What I find is this document is so thorough and it really helps the seller get on the same page and it also brings up questions. So at the end, it's almost like we've like worked through everything. I know early in my career, or even honestly like three years ago, I was just so excited to get a listing that I was like, okay, like you agree to my compensation, we're timing works, we're good to go. And I think now, more than ever, especially because the market has softened a little bit, we need to be really taking the time to set expectations and make sure that our client is fully on board with how we work because that is how you have a life. Okay, so next section is about showings. And this is a big one because if you don't show the property, it's not getting sold. So I am putting in that you will have the property available seven days a week, 9 a.m. to 7 p.m., and we will have X hours notice. So whatever that is for your client or your market, whatever is reasonable. Most of the time in our market, it's 12 hours notice. Um, but availability is one of the biggest factors in a timely sale. And this clause really makes it explicit and it gives you something to point to if the seller starts declining showings. The other thing is getting an open house agreed to because there are some sellers who don't want an open house and that and that might be okay with you. Or there's ones that don't want it and that's a non-negotiable for you. So you're really making sure that you're communicating about open houses up front. The next piece is that the seller is not present during showings. And this one, surprisingly, is like you just don't know until you don't know. And I want to make sure that this is super clear up front. So I actually had um recently a seller who wanted to be present for all showings, and I that is why this clause is in here because I want buyers to feel unhurried. I want them to feel comfortable. And if the seller is in the home, it absolutely will be an offer killer and it does not make for a good touring experience. So I just want to make sure that that is clear in there as well. If there is a lockbox, you also want to make sure that that is covered in this addendum as well. And whether you will be at every showing or whether licensed agents will be doing showings. So buyers' agents will be showing the property to their client without you. This is another thing that people assume you're going to be at every showing. So you want to make sure that that is communicated clearly on this as well. Recording devices. So the ring camera clause. I think this is also one that's really overlooked. Some states they have really great addendums for this, but again, it's not always like specifically called out. Sometimes it gets lost in the shuffle of all the disclosures that they're signing. But I always like to say that the sellers have to disclose that there's cameras to showing agents and that audio recordings can implicate state privacy laws. And so having this in writing just protects everyone. And again, if you're doubly covering it, that's fine. A lot of this stuff is covered in the listing agreement, right? But I am calling out specific things because I do not want them to be issues down the road or things that would have made it so I didn't want to take the listing to begin with. The next and last thing under showings is showing feedback is not guaranteed. And I think we've all seen the chat or online about how, like, there's a buyer that sued their agent for providing feedback. So I like to set this expectation in writing because it prevents sellers from interpreting silence as negligence on my part. Like that I didn't do my job and get feedback. So I just like to let them know that like feedback's great if I can get it. But because of the litigious environment we're in now, buyers and buyers' agents are not required to give us feedback. I have a line that's like offers and showings are the best feedback. So if we're not getting showings and we're not getting offers, that's really good feedback that something is off. The showing section is really all about protecting the conditions, like setting yourself up for success to give your listing the best shot of getting sold. I don't know about you, but the market that I'm in, not all homes are selling right away. So I also like to have a paragraph in here or clause that's about pricing strategies. So we're gonna be doing a three-week pricing review. So if we don't have a ratified offer or contract within 21 days of going live, we're going to have a scheduled pricing review. And this is built into the agreement from day one. This isn't committing them to a price reduction unless you want to do that, which is also totally fine. But it's really just setting the expectation that after three weeks, we might need to have a conversation about reducing the price. I think that having this up front, or at least setting it as an expectation, means that that price reduction conversation is not a surprise. And for me, it's like the three-week window in this in my market. It might be a month for you, it might be a week for you. So you can customize this to whatever it is, but you're basically having the seller already agree to have this conversation with you, which makes the conversation easier to have. I like to say it's like a built-in part of our marketing strategy because pricing and positioning in the market is a very important piece of selling your home. And it's not being reactive or being proactive. So I really like to make sure that we are having some type of expectation that if your home's not under contract in X amount of time, we are going to have a thorough review of pricing and positioning in the market. Moving on to communication, this is a really big one, and I think a lot of agents drop the ball on this. The first is that you will receive weekly written updates from me. So this will be showing activity, online traffic, any feedback we've received, and then any updates on market activity. So this would be showings, um, it would be like new active competition, anything that's gone under contract, really anything that's pertinent. And this is every week. I typically send this on Mondays. So I let them know that you will get a written weekly update for me on Monday. This is proactive communication that replaces those reactive calls because if they're asking me for an update, that's not okay. It means that I have not set expectations properly or I am not in contact enough or consistently enough. I've found that if you set the expectation that you're going to be sending them that report every Monday, it really cuts down on the what's going on, what are you doing? Why isn't my house selling? Blah, blah, blah. So I once had a listing that was literally on the market for a year and a half. And I am telling you, those weekly updates saved my ass because I did not have the seller constantly bombarding me with their anxiety because I was giving them weekly updates. So that is crucial. The next piece, and this is for buyers and sellers, honestly, but I like to put this in my listing communications, is my working hours in writing. I let them know that my hours of operation are Monday through Saturday, 9 a.m. to 5 p.m. for routine business. Now I am outside, available outside those hours for active negotiations and time-sensitive decisions, but it's not for every question that comes up at like 6 p.m. or 7 p.m. So I like to let them know up front that I have working hours. I do have a life outside of real estate, and that usually gets like a little chuckle. Um, I have three kids. I am a baseball coach. Like I have things that I'm doing. And so I let them know that Sundays are my day off. And I again, if there's anything important that comes up, so a contract comes in, um, we need to negotiate home inspection repairs, anything like that, I am available for. But generally, those are my working hours. Now, you have to stick to them. So if you get an email at 7 p.m., that's not important. I might reply to it at 7 p.m., but I'm scheduling that reply to go out at 9.02 a.m. the next day. So make sure that you aren't communicating outside of your business hours either, unless it's active negotiations or time sensitive. So this is huge for protecting your energy because listings, I think, are one of the best ways to have work-life balance in real estate. And even more so if you're communicating your availability and how you work. Sellers need to know what to expect and they need to know when they're going to be hearing an update from you. And when you have this up front, they do most of them do stop texting you at all hours. Um, and that communication structure is a boundary that honestly I think benefits both sides because you don't get those reactive texts and they have a moment to like sit with it. Like I had a situation recently where I had this seller who was freaking out and it wasn't urgent. It was not active negotiations. They texted me at it was like 5:30 or something. I was at dinner with my kids and I'm like, you know, this isn't urgent. I'm gonna wait till the next day. Literally by like 8 p.m., I had another text from them saying, never mind, disregard my previous text. I was just freaking out. So it actually allows the seller some breathing room as well to just chill, like take a beat and let them kind of like come to their own conclusions sometimes. I do not think this is client neglect. I think this is really good for both of us. It's good for the listing agent and it's good for the seller. So those are my major clauses that I'm putting in my seller expectations addendum. I challenge you to think about where clients are maybe infringing on your boundaries, where have deals or listings blown up in the past, what makes the process difficult or what makes working with a seller difficult. And you can craft your own language, your own expectation sheet. All of those sticking points are opportunities for you to set better expectations and get agreement on those expectations up front. That's what I want you to take away from this: that every single clause in this document or your document exists because something went wrong without it. This isn't like a general form I downloaded. It's a document that was built from my real life experience with real listings. It was from my experience with real conversations with sellers and those really hard lessons that I've had to learn. And you can absolutely build yours the same way. And I highly suggest that you do. This document isn't adding more work, and I actually think it moves hard work to the front. So you're not putting out fires for like 60 days, 90 days, six months with a seller who is never on the same page as you. So list look at your past five, six listing deals. Pick one or two things that cause friction and write that one clause that would have prevented it. You can start there. And it is a living document. You will revise it. You can learn from your experiences, and you can really just put into practice a tool that is going to make your client experience better, but it is also going to make your experience better as a listing agent. If this episode made you think, oh my gosh, I need something like this, you are absolutely right. You do start small, one page, maybe five clauses, signed at the appointment. And I promise you will feel the difference on your next listing, and it will set you apart from the other real estate agents that you might be up against. If this was helpful, please share it with an agent who needs to hear it. And if you haven't left a review, that would be great. We don't have a lot, and it makes me a little sad. Other than that, I hope to see you next week. And until then, stay happy.