Even if you’re not buying selling, it’s a good idea to have an
agent to call on
So you’ve decided to sell your home. You find an agent you
firmly believe will be able to get the job done for you. After all,
he or she was recommended by your friend Harry whose home sold last
year in three days for $30,000 over the listing price after
receiving 10 offers.
This is going to happen for you, too, isn’t it? So you sit and
wait for those golden offers to stream in like stardust particles.
And you wait. And you sit. And you wait. You begin to wonder,
”
Just what is going on here? Did I choose the wrong agent? And
while I’m thinking about it, just what should be done for me by my
agent?
”
Even if you’re not buying selling, it’s a good idea to have an agent to call on
So you’ve decided to sell your home. You find an agent you firmly believe will be able to get the job done for you. After all, he or she was recommended by your friend Harry whose home sold last year in three days for $30,000 over the listing price after receiving 10 offers.
This is going to happen for you, too, isn’t it? So you sit and wait for those golden offers to stream in like stardust particles. And you wait. And you sit. And you wait. You begin to wonder, “Just what is going on here? Did I choose the wrong agent? And while I’m thinking about it, just what should be done for me by my agent?”
Good questions all. Let’s take a look at each one of them. First of all, what is going on here? We’ve obviously seen a shift in market dynamics. While homes were being snapped up right and left in the past, buyers are more selective now because they can be. There is a higher inventory. Houses stay on the market for months instead of days. We Realtors are seeing a return to a more balanced, more “normal” market.
The next question is a little trickier. Did I choose the wrong agent? It could be. During the past few years, many people have jumped into the real estate industry. For the past few years it wasn’t difficult to make a living. If you could find someone selling a home or corral a buyer, an agent could get a deal together in no time at all. And since the market was so skewed toward the seller, negotiating skills were unimportant. Interest rates were low, so there was little creativity needed. Now, however, with the market shift and the gradual rise in interest rates, you need an agent with greater skills.
Does this mean you need a seasoned agent? (This is a term we use to describe an agent with a great deal of experience.) Not necessarily. I have frankly seen agents who have worked for years without ever quite “getting it.” And I have seen brand new agents with intelligence and diligence whose transactions have sparkled from day one. At Intero, for instance, a new agent is paired with a mentor who helps the neophyte through the first few transactions to insure a seamless, high-quality level of service from the onset. Make sure if your agent is fairly new to the industry that he or she has the required support needed for success.
This is a very good time to shift your thinking from a real estate agent as a one-time service provider (transactional) to realizing your agent can be part of your life team (relational), providing you with information and assistance even when you are not buying or selling. Whoa, doggies, you know your dentist, right? You know who will do your taxes, cut your hair, service your car, deal with your legal matters. Form a relationship with a Realtor, and you’ll have a valuable asset for life.
So let’s look at the last question. Just what should my agent do for me during this time?
Your agent’s true job is to get your property sold. How that happens is just this: The agent helps you to get your home ready for sale. As always, the recommendations are just that. But if minor repairs and improvements are suggested and you choose not to undertake them, that’s your responsibility. If you have a lot of clutter and too much furniture and that’s pointed out to you but you simply shrug, that’s your responsibility.
The agent then showcases the property in as many ways as possible. Obviously, placement on the multiple listing service (MLS) is key. All Realtors, and anyone using the Internet, will have access to the information about your home. The other critical step is to invite all Realtors to view it during the marketing tour. Essentially, the agent sells your home to other agents, who then sell it to their clients. If your home is not on the MLS, and on the MLS tour, you truly limit your potential pool of buyers.
Studies have shown that a potential buyer rarely purchases the home they call about from a newspaper ad or visit during an open house. Most large brokerages will ensure its ads have a few homes from each marketplace in every ad. This is the most effective way of marketing all its properties. A sign in the yard is a positive thing. Should there be fliers? Most of the fliers are initially picked up by neighbors! The best scenario is a buyer sees the home, calls the brokerage, and gets the information. (How many times have you pulled a flier from a house just because you were curious? Aha! I thought so.)
If you have further questions about this, contact your Realtor. If you don’t have one, get one … whether you are buying or selling now or not.
And be kind to your Realtor.
