People usually choose a Realtor to list their home based on 2 things: 1- The Realtor that suggests the HIGHEST PRICE for their house, and 2- The Realtor that's willing to take the LEAST commission.
WRONG! WRONG! WRONG!
Those two criteria have absolutely nothing to do with hiring a competent agent and, if you truly understand the game, these two things are utterly irrelevant.
1. NO AGENT CAN TELL YOU WHAT YOUR HOUSE WILL SELL FOR.
If they say they can – they’re not exactly being truthful. Only one person can tell you the right price for your house – and that’s the BUYER. A competent Realtor will come to meet with you to see your house in person and bring you comparable, pending, and active sales in the area. They will ask you questions about your property like, the age of the roof and HVAC systems, any upgrades you’ve done, how old the appliances are, etc. They’ll also ask the tough questions like what you don’t like about living there. These are the questions that will help them prepare to overcome buyer objections in the sales process. A good listing agent will consider ALL this information, compare it with their own research and suggest a price that will attract buyers. But the price of your house is ultimately up to you.
2. SOME AGENTS WILL SAY ANYTHING TO EARN YOUR LISTING
Be careful- the agent that suggests the highest price may not have your best interests at heart. Always ask the agent to show you the stats and the reasoning behind their price. And be smart…the research should be in your neighborhood and as close to the characteristics of your home as possible and as recent as possible.
A good sign is when an agent gives you a range of prices so together, you can discuss the current market temperature, recent sales, location, and unique qualities about your property. Pricing can be changed accordingly, even after your house goes to market, so there are certainly more important factors to consider when choosing your listing agent other than just price.
3. NEVER CHOOSE AN AGENT JUST BECAUSE THEY ARE WILLING
TO REDUCE THEIR COMMISSION RATE
Ask yourself, WHY an agent would be willing to work for less income?
If they are willing to drop their price – there’s always a reason – and it’s never in your favor.
-Do they have so many sales currently going on that they can’t give you the attention you
deserve?
-Is it because they don’t plan on putting enough money towards marketing your property?
-Is the agent desperate or unqualified?
-Do they lack resources or negotiation skills?
Sometimes it’s because they simply can’t otherwise stand apart from the competition. There’s always a reason why an agent is willing to reduce their own income – and usually, it’s not a reason that benefits the seller. Odds are that the lowest-fee agent's selling history will show more price reductions and that their properties typically take longer to sell, (called DOM or days on market). A reduced commission rate may save $4,000 in commissions, but take months to sell your house. Plus, you may not get the right number of bids to reach the best possible price for your property. So, in reality, what have you saved?
Every real estate agent is different. Each has their own strengths, techniques and budget. By choosing an agent with a good marketing plan who will put dollars toward marketing your property – you will gain more exposure to a broader audience and potentially reach a larger number of buyers. This usually means MORE offers and a HIGHER price for your house.
4. THE ONE MUST-HAVE TRAIT OF A GOOD LISTING AGENT
A great listing agent lives and dies by marketing! Ask for her marketing plan – and watch her eyes light up! Publicizing your property is what makes the sale. Period. If an agent can’t give you ideas outside of listing it in MLS, yard signs, and a couple open houses with fresh-baked cookies – move on.
Nowadays, there are so many new and effective tactics on social media and other digital advertising techniques – that your home can be seen by thousands of people in multiple states for very little expense. A good agent stays current so she knows these tricks and can create buzz about your sale. And remember: No single tactic sells a home – it always requires a combination of marketing tactics.
OUR CURRENT MARKET
To be completely honest, the market in our area is so hot right now and there is so little inventory, that almost any agent will be able to sell a marketable house quickly and at a good price. So, choose someone you will enjoy working with – it’s a long process and you’ll interact with this person daily. Choose someone who will make you and your property a priority; someone who isn’t too busy so they will be able to respond quickly to potential buyers. And look for someone who knows and understands current marketing tactics. Just because the market is hot, doesn’t mean your property shouldn’t get the marketing exposure it deserves. Look for an agent who will get your message out in new and creative ways, not just MLS and open houses. Ask them what works and what doesn’t in their experience, and ask them for a marketing plan. Happy Selling!!
If you are considering selling your property,
click here to get a copy of MY MARKETING PLAN
I’d love to share my marketing expertise
with you and talk about what your property is worth.
RIGHT NOW IS THE BEST POSSIBLE TIME TO SELL because prices have PEAKED,
but interest rates are still at a historic LOW.
Connect with me and let’s talk about how to get the most out of your property right away!
Note: Stephanie Taylor is spent 25+ years in the field of marketing and advertising. She has managed the digital marketing for companies including Baby Einstein, ABC Disney Cable Network, and multiple advertising clients in 70 countries. She has written and published two parenting books and due to her marketing efforts – one became an Amazon.com Best Seller (#34 overall) and in the Top 3 in Parenting. She was a marketing guru before she became a Realtor.
CONTACT STEPHANIE:
IN ALABAMA
Joy Sullivan Realty
cell: 404.54.4913
office: 251.979.0504
IN FLORIDA
One Palafox Properties
office: 850.433.2845
Comments