Sellers Do Not Know What They Do Not Know Part II

Dated: April 29 2015

Views: 2694

In Part I of this three part series I spoke about some of the things that set apart "the best from the rest". Now I would like to give you, as a seller, the information that can help you pick out the best broker to represent you in a transaction. Lets start by breaking down the selling process.

Once an agent is chosen the process goes something like this:

Pictures are taken, important facts about the property are collected, disclosures are filled out, and finally your agent  brings your property to the market place. But what happens after your property goes "live"? The National Association of Realtors has compiled facts about how and when your property sells. What happens in the first 30 days after your property goes live can determine how fast your property sells and for how much and a lot of that responsibility is placed in your real estate agents hands. 

For instance, are the pictures that are presented to the public of a high quality and show the property in it's best light? We know that 93% of all buyers start their search online and more importantly, chose, and worse, eliminate properties based on pictures and price. Where is your property being showcased? Many brokers will tell you that their local multiple listing service and their own website "feeds" to other websites but does it really? Not every MLS site feeds to a website aggregator nor can a potential buyer always find the brokers website. So how do you as a seller ensure that your property is being properly showcased?  This is probably the biggest consideration when choosing a firm to market your property.  Who and how do they reach potential buyers for your property?

How do many sellers choose their agent?  Again we can look to NAR to give us statistics on this. They say that 82% of sellers ask their friends and neighbors who they "like" or have used in the past and choose the first realtor they interview. There are agents in any market whose philosophy of selling real estate is the more listings they have, the more exposure thus they look  more successful to the general public, and point of fact it works. But does that help you sell YOUR house?

 If you are planning to sell your home you look around and see who has the most signs up in your neighborhood right?  After all, if my neighbors are using that realtor they must be pretty good right? In point of fact, the real indicator of how good an agent performs should be based on "days on market" for their listings.  Why is this important?  Lets look back at that NAR statistic I used earlier, 93% of all buyers have "short listed" the properties they want to see online before they ever contact an agent based on what they see online.  So if your property isn't getting the attention needed to ensure that it makes a splash when it hits the market it will soon appear stale and buyers will ask themselves and their agents "what is wrong with this house?" As an agent, team member with plenty of admin help, I can honestly tell you that managing more than 20 properties at a time is very difficult and as an agent I would tell any seller that someone who carries more than that is not doing justice to their sellers.

Believe it or not, as I was reminded by a lawyer yesterday while attending a seminar on risk management, we don't get paid for doing any of this, so what is our "real job?" Our job is to protect you the seller from defaulting on a contract and keep you out of court while making sure you get the highest and best price for your property in the quickest, least painful way possible. Easy right?

In part III of this series I will talk about risk management.  Some of the pitfalls sellers fall into and why having an agent who knows them and can keep you from falling in will save you time, money and aggrevation.


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Victoria Jackson and Mike Shuttleworth

The Steamboat Luxury Team -Vicki Jackson and Mike Shuttleworth Vicki Jackson has been a Realtor for 11 + years and comes from a long line of Realtors. She has specialized in luxury resort and ranc....

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