This is a complaint I sometimes hear from buyers and sellers. Real Estate Agents Stink! But why?!?
It is no secret that agent behavior is at times, absolutely abismal. Every profession has them. For example, when I'm working with buyers, and I can't show them property located where they want or when they want to see it, is a problem. This usually happens because I lack the returned calls whem I'm trying to make appointments. So, sellers beware. Choose your agent carefully or your property may not be getting shown.
Sellers also complain sometimes that their homes are not getting shown enough. When the listing turns into an "Expired Listing", these sellers are quick to blame the agent, when if fact, the agent's only fault, may have been to have taken an overpriced listing instead of turning it down.
Here are several factors that typically affect when a property gets shown, or not. Notice that some of these are outside of the Realtor's control...and it is often not a lack of buyers either.
For example, although there are agents who have listings they do little work to promote, there are possibly 5 major factors that cause a property to not sell - namely: price, market condition, property condition, location & marketing. As you can see, some are mostly a function of price and availability, which are entirely controlled by the seller.
Making the property avialable in "show" condition for a price that matches and mirrors not only market conditions but equally important, property condition, are paramount. Here, sellers are at fault if they're simply not following their Realtor's recommendations.
We cannot control sellers who insist in asking a higher price in this market, refuse to make basic rmaintenance repairs or maintain the property clean or even make it readily available for showings. These are the instances in which good agents would much rather walk away than dissapoint the homeowner further when the property does not get shown and consequently, does not sell.
In addition, we definitely can NOT control the property location or the market, except through price/terms/ consecions.
About the only thing Realtors do control is the marketing strategies they aggressively implement which include all the activities in support of making the property known to the world and shown when a potential buyer or Buyer Agent calls. For this, make sure your agent is among other things, an Active, Full-Time agent who was sharpenning his/her skills when the market was slow and is positioned to assist you better now that the market is beginning to show signs of improvement.
Today, we're in a Price and Beauty contest! The pretiest property at the best price, sells first! Why buy something for x price that I need to repair when I can buy this other, prestine property for the same or better price? Unless of course, the property that requires all the work is offered according to its condition, at a price that will cause me to take a look, it will just sit there.
Another thing sellers do not know is that often, their property is listed without pictures! Today, more than 80% of buyers do their "house hunting/shopping" online. Unless they take the time to read its description and this description is written well enough to attract them to the listing, often buyers will simply skip over a listing without a picture. Specially when they're first starting out and are trying to get a feel for what's available to them out there.
Insist that your agent takes and publishes as many photos as possible, even video. These ensure higher traffic and a higer probability for showings. If there's a lot of traffic and little to no showing requests, your agent should inform you and seek a price reduction from you, and you should listen.
Similarly, if you're getting showings but no offers are comming through, you may be helping your neighbor sell his/her property first. Perhaps it has already happened. In this case, your Realtor should once again, be asking for a price reduction.
If you cannot afford to sell below a certain number and must sell, it is time to consider other options. A good Realtor can explain these and even encourage you to see an attorney to examine legal options.
However, depending on your situation, you may also qualify for a modification and speaking with your lender should be your very first next step (after speaking to your Realtor).
Make sure you consult a Certified Distressed Property Expert in your area (www.CDPE.com). These agents have prepared themselves to handle all the ins and outs of a distress sale and can guide you through several options you may have.
From Short Sale to Deed-In-Lieu and Foreclosure, a CDPE Realtor like myself can help guide you and determine all the questions to ask yourselves and the professionals whose advise you must seek, such as attorneys and CPAs (to review the possible tax consequences of a distressed sale).
In today's buyer's market, when many buyers are sitting on cash from the sale of other properties or are foreign buyers, the last thing a seller needs is to not have their property shown. This may mean that pricing, access, availability or a combination of these are faulty.
Sellers should also be ready to show the property with short notice, consider electronic or other type of lock-box and anything else that ensures the property gets shown - all the time. In this market, this may also mean the difference between getting the property sold or letting it sit there and expire.
Sellers, remember that a true Realtor is not only a member of a local Board, but they're also members of state association and the National Association of Realtors (NAR), who are subject to a strict Code of Ethics. Only member Agents can use and display the "Realtor" name and logo.
Choosing a powerful, active agent like myself may mean the difference between getting the property sold sooner rather than later, or not.
Though some agents may stink, the ultimate control is in your decision to choose the right agent for the job of selling your home.
---
Wenceslao Fernandez Jr, BS, CDPE (Certified Distressed Property Expert), is a member of RAMB, the largest Realtor board in Miami-Dade County. RAMB has affiliations with several countries, allowing your property to be seen by other real estate professionals in other countries. Wenceslao Fernandez Jr is also a member of the Florida Association of Realtors (FAR) and National Association of Realtors (NAR) and a Realtor-Associate with Keller Williams Realty, the #3 largest and fastest growing realty company with offices throughout the USA and Canada. When other companies are consolidating or closing offices, Keller Williams is growing stronger. As a Certified Distressed Property Expert (visit www.CDPE.com), Wenceslao Fernandez Jr is able to help sellers, buyers, investors and foreign nationals take advantage of Miami's incredible real estate opportunities. Specializing in Investment Property, 2nd/Vacation Property and Single Family Homes in and around Miami Beach, Florida. Search properties in YOUR language (13 languages) at http://www.Immobel.com/MiamiRealEstateKing or visit his other blog at http://MiamiRealEstateKing.WordPress.com. You may also follow Wenceslao in Twitter at @RealMiamiEstate or http://www.Facebook.com/wfernandezjr.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved