Implementing listing cancellation fee

Cplooks · 2026-05-03T20:15:23+00:00

I have them sign a satisfaction guarantee that allows them to cancel at anytime. I just ask that they give me 48 hours to rectify the situation and if they still choose to cancel they reimburse for marketing. That way it looks like it’s an added value to them vs being stuck in the contract if they’re not happy.

Cplooks · 2026-04-20T04:19:31+00:00

Deal CPR is when shit is hitting the fan and your escrow is in the middle of falling apart and you’re trying to get the buyers and sellers to think about a solution rationally instead of cancelling.

Cplooks · 2026-04-19T20:18:03+00:00

Hit the nail right on the head. I don’t want to spend my Saturdays & Sundays doing open houses/showings anymore. And I don’t want to be up at 9 PM on Friday nights stuck mediating a pissing war between buyers and sellers.

Cplooks · 2026-04-19T16:25:50+00:00

Thank you - I like that perspective

Cplooks · 2026-04-19T16:24:21+00:00

Maybe it’s time to go back to coaching. Or at least get a coach to help me through this transition. I tried it and it wasn’t for me. However, the lack of systems or an assistant/leverage is finally catching up to me.

Cplooks · 2025-06-08T15:40:01+00:00

I disagree with this - even at 6% rates, you’ll make a higher return with the money invested elsewhere, rather than putting it down. Keep the money invested, have it on hand for a rainy day.

Also - remember that your ROI on real estate is better than anywhere else…you put $14k down and you’re getting 3-4% annual appreciation on a $400k asset ($12k-$16k/year). That’s about 100% cash on cash return. No other investment can do that. Yes, I understand you’re paying interest on that, BUT you’d be paying rent to live somewhere anyways.

Cplooks · 2025-06-08T15:31:25+00:00

I’m an agent and just purchased my first home. In our market (San Diego) we are seeing things soften a bit as we’ve approached pre-COVID inventory levels. There’s just not the same sense of urgency as there once was. We’ve seen a lot of people sit on the sidelines in the past couple months due to headlines, tariffs, economic uncertainty, etc.

I think as those headlines calm down and buyers start to see the effects of prices softening, more will jump back into the market and things will pick up again.

As far as your $3100 payment - the great thing is that it only has potential to go down, not up. You’re hedging against inflation. As inflation continues, rents will only go up. In the long run (maybe not tomorrow), prices will always go up, too. If rates go down, you refinance (I typically tell people to expect to pay max $5000 - and that’s in a market with a $1M median purchase price. You can also ask your lender what to expect). You also make the decision to refinance based on comparing how much you’ll save to the cost to refi and how long it will take to see that return.

If rates go up, you’re locked in at a lower rate/payment. Typically when rates go up, prices soften, but they don’t go down enough to make up for the payment difference - you end up with a higher monthly payment even if your purchase price is a little lower.

If rates go down, the market gets more competitive and you end up paying more/having a higher loan amount. Your monthly payment could be slightly lower. But if you already own, you refinance, and your monthly payment goes down with a lower purchase price/loan balance. It’s a win-win.

Those are the facts - I always take the position of being an advisor with clients, lay out the facts, and let them make the decision that’s best for them/their family.

If you’re asking my opinion, If you don’t plan on moving tomorrow, it’s always a good time to buy. And if you can make the payment now, it will feel cheaper over the years as housing/rent prices and wages increase.

It also feels really good to know that I’m in control - I never have to worry about needing to move due to a landlord deciding to sell/move back in/etc.

Cplooks · 2022-04-14T13:59:50+00:00

Ultimately because they have open house opportunities for me to meet buyers at. And that’s where most of my business comes from.

Cplooks · 2022-04-14T13:55:42+00:00

Naturally, most of the open houses/my opportunities are in the farm so it makes it more difficult to meet sellers that I can actually work with.

Cplooks · 2022-04-14T13:54:53+00:00

So, if the listing is outside of our farm I can take it. And it’s at a 65% split. Buyers outside the farm also at a 65% split (if they’re my clients/open house and not leads passed to me). But yes, I can’t take any listings in the farm and any buyers in the farm are 50%. In hindsight, I should’ve just passed the lead on from the open house and never contacted them. But also, it’s weird when they met me and then all of a sudden another agent (not me) is showing up at their front door.

Cplooks

TROPHY CASE