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Picking the Best Agent
Two of the biggest mistakes you can make when choosing a listing agent are selecting an agent solely based on the following two things:
Highest list price for your home
At first glance, you might say, "What? Are you serious? I want the highest possible price and to pay the least amount of commission." But those two criteria have very little to do with hiring a competent agent and, in many instances, are completely irrelevant.
Here are the reasons:
The Highest Suggested List Price
No agent can tell you how much your home will sell for. If they say they can, that's a fallacy. A listing agent can show you comparables based on properties currently for sale, under contract and recently sold, but YOU choose the sales price and a buyer will tell you if the price is right. As an agent I can suggest the list price that will attract a buyer. Where it goes from there is generally left up to the buyer.
To get the listing, some agents distort the truth, I will not!
Since no agent can guarantee your sales price, a listing agent who suggests the highest price could very well be untruthful. Ask for information to be provided supporting that suggested list price. If this information cannot be provided, or similar properties are provided but in a completely different area, this could be a big, red flag.
As your listing agent, I will give you a range.
There is most always a price range. It might be a difference of $10,000 from the low end to the high end, and it could be larger depending on the market in your surrounding area. Many factors determine the range, among which are location, improvements that have been made in the home, and the current real estate market.
Pricing takes time and research, and cannot be provided on the spur of the moment.
The best time for an offer is within the first 30 days on market. Twenty one days is ideal. If the home is priced right, we will receive an offer. If it's priced too high, there might not be any showings, which will eventually cause you to reduce the price, leaving buyers wondering what's wrong with your house.
Should You Choose an Agent Based on Commission?
All real estate agents are not equal; each is unique. Remember about 10% of the agents do roughly 90% of the business. I have my own marketing techniques and advertising budget, which may be completely different from someone elses. Reaching greater numbers of buyers equals better chances of a good offer.
Why would an agent willingly work for less?
There is always a reason why a broker or real estate agent would discount a real estate fee. Sometimes it's the only way the agent feels it's possible to compete in a highly competitive business because the agent can't otherwise stand apart from the competition on service, knowledge or negotiation skills.
So if the sole benefit an agent brings to a table is a cheap fee, ask yourself why. Is the agent desperate for business or unqualified? Do you want to work with a desperate agent?
Sometimes full-service agents will negotiate a lower commission under special circumstances such as you are buying and selling a home at the same time.
Importance of Agent Marketing
Marketing sells homes. I will provide you with my complete marketing plan. Precisely, what I am going to do to sell your home? These include:
Professional signage, including my personal and office phone number.
Installing a Bluetooth lockbox on your property
Daily electronic monitoring of lockbox access.
Follow-up with showings, and provide that information to you
Staging advice to make your property look the best it can
Digital targeted marketing, through website, and online realtor forums
Listing on the Multiple Listing Service with 30 photographs
Distribution to major websites, more than 725 through Coldwell Banker
Financing flyers for buyers.
Hosting an open houses
Direct mail to surrounding neighbors, out-of-area buyers / brokers
Updates regarding other comps if no contract after 30 days.
E-mail feeds of new listings that compete
Updates on neighborhood facts, trends and recent sales
Remember, no single tactic sells a homes. A combination of the best methods for your house will be provided and utilized.
Characteristics of a Good Listing Agent
Our relationship will lasts months, so we need to get to know one another. Here are a few tips that you can use during a meeting with a listing agent:
Honesty. Trust your intuition. Your agent should speak from the heart.
Networking. This is a people business. Some homes sell because agents have contacted other agents.
Negotiation skills. You want an aggressive negotiator, not somebody out to make a quick sale at your expense.
Good communicator. Sellers appreciate communication and availability, and I do as well.
Finally, I provide you with a personal guarantee. If for some reason we both feel that our partnership isn't working, we will mutually agree to part ways.