Imagine you’re a fly on the wall in a room full of agents discussing their businesses. You’re very likely to hear how good they feel about what they do for a living and the positive impact they know they have helping so many over the course of the year. You’re also likely to hear about the challenges they face, and one in particular you need to make note of: they wish the public had a better understanding of what they should look for in a listing agent, because the two reasons why most folks agree to list with an agent are the very two reasons why you should NOT!
So, what are the two things the typical homeowners give the most consideration to that really should have no bearing on their decision? The price the agent agrees to list the home for and the rate of commission they request. Why should these be given less weight? Well, because agents and sellers don’t determine the sales price – the market (and the buyer) dictates that – and it’s NOT about the commission, it’s about what you will NET from the sale!
Real estate is a commodity, subject to fluctuations in value determined by the amount of available inventory, demand for the product, local and national economic indicators, and even available financing (and rates.) What a seller would like to sell their home for may not be supported by the market at that time, and yet they’ll choose an agent who leads them to believe it’s possible. Listings “expire” every day in most markets, with sellers having wasted their time for six months or more waiting for an offer that never materializes. Their home then becomes stale inventory and is passed over for what is newly listed and priced appropriately.
Know this: agents want you to get top dollar but an overpriced home only helps to sell other available inventory! Don’t be swayed by promises, focus on the facts.
As for commission, choose your agent carefully and you’ll sell your home faster and for more money. You’ll reduce carrying costs and expenses and can then move forward. When a home has been left to linger on the market, buyers start thinking about deep discounts and concessions. What you stand to lose far outweighs what you think you could gain, so again – focus on the facts!
Here’s what SHOULD be considered when choosing an agent to sell your home:
**A solid marketing plan. I take a proactive approach to marketing your home and presenting it in an exceptional way. Home staging, professional photography and property narratives that pique interest are the first steps that are key! Your home must be promoted globally, not just locally. It must be showcased and promoted on all social media portals and syndicated to all real estate search sites. I’ll announce your new listing to everyone in my database, as well as to agents in and out of our market. I’ll invite the public to see your home when I host a well-planned and expertly executed open house event – it’s designed to get dozens of folks in the door. Exposure, interest, and offers? It’s all a result of high-level marketing. This is the stuff that matters!
**Exceptional knowledge of the local inventory and current market conditions. I invest significant time each week previewing, touring, and showing homes. I know how much inventory is available, what is – and ISN’T- selling, and what’s happening with rates. I understand what buyers are looking for and will advise you as to what can be done to optimize your market value and make your home more desirable. I have a strategy around timing and our message in order to place your home at the top of the “must see” list.
**A stellar reputation and results. I’m going to provide you with outstanding references and testimonials. I will demonstrate the success I’ve had with people just like you, and share my system behind it. I commit to doing my job well, at a very high level. Why? Because I want to create raving fans – satisfied sellers who’ve had an exceptional experience and will happily refer their family and friends to me. My goal is to be your agent for life!
If it’s time to consider a sale, ask great questions, dig deep, and ask for proof. Consider what’s really important – the outcome. You have a choice, and your agent matters – choose carefully!