WHO IS THE BEST REALTOR FOR YOUR HOME?
This is the last in our series of 7 articles
TURN AN EXPIRED LISTING INTO A SALE
What are some of the things that would encourage you to select a Realtor?
Who in this list do you feel is the best qualified to sell your home?
- Multi-Million Dollar Producer
- Signs in the neighborhood
- Mails you promotional material
- The most letters after their name
None of the above should be the single defining factor in your decision making process.
MY PREVIOUS REALTOR DID NOT BRING ME A BUYER
If your home has expired you might feel your Realtor was the reason your home didn't sell. You might think they did not work hard enough for you.
A common complaint among sellers is:
"My Realtor never brought anyone to see my home".
It was my Realtors fault!
Your listing agent is not necessarily the agent who brings you the buyer. That seems a little odd to you since you are paying them to sell your home. If they don't bring you the buyer how can they sell your home?
In our first installment we offered the concept that your home was no longer your home, it was a commodity. How do commodities usually sell?
LOOK FOR THE BEST PITCHER
The best pitcher is not the agent who pitches themselves best.
The best pitcher is the agent who knows how to pitch your home.
For an illustration let's look at Billy Mays. Probably the best known "pitch man" of recent times. Billy took the commodity and presented it to the public. He utilized his unique set of marketing skills to attract buyers for the benefit of the manufacturer. His ability to market is legendary.
So how does this relate to your home? Your agent should be able to formulate a marketing plan that will bring your home to the attention of a ready and willing buyer. Call it a "Pitch Program". Your home is the product instead of the Awesome Auger. Your agent becomes your own Billy Mays.
Rarely does an agent have a buyer waiting in the wings who is perfect for your home. You are looking for an agent who is an excellent marketer.
THE ADVERTISING EVOLUTION
Real Estate marketing has changed drastically in the last few years. Print advertising is diminishing as marketers recognize the shift of the buying public to the internet.
Statistically upwards of 80% of the buyers start their search for a property on the internet.
Selecting an agent who is internet savvy will add exposure for your home. One who proactively markets homes on the internet is reaching more potential buyers verses the one who relies solely on local newspaper advertisement.
An agent who just has a website in place will not necessarily bring your home to the attention of a buyer. Your agent should be able to tell you what sites they will use to maximize the exposure of your home.
Social networking has become another tool in a Realtors arsenal. The use of social networking helps Realtors communicate with buyers who are tech savvy. Many Realtors are using the same technology to communicate with each other. Text messaging, Twitter and Facebook are an intricate part of communication today.
It is not mandatory for your agent to be a text whiz. They should be familiar with the technology and able to utilize it if needed.
THE UNVARNISHED TRUTH
The most important asset your agent should possess is the conviction to tell you what you need to know, not what you want to hear.
If two agents tell you your home should sell for $130,000, and one says they would market it at $170,000, the best thing you can do is STOP!
Don't hire the agent just because they gave you a higher valuation. The right price is the MOST IMPORTANT factor in realizing a sale.
Instead of making a snap decision between the 3 agents - interview them again. Address the issue of price specifically. Ask all three agents how they arrived at their valuation. In the re-interview see if the agents waffle from their original assessment.
Agents who are confident in their pricing structure will not waffle. They may make a small conditional concession with you.
As an example they might suggest that they would increase the price by perhaps $10,000.00. At the same time they may place a contingency on that increase. "I'd consider marketing at $140,000 for 30 days, if you will agree to reduce the price to $130,000 if we fail to attract interest". Consider that a reasonable compromise verses waffling.
Look for an agent who thinks "out of the box". An agent who has creative strategies to promote your home.
Avoid the "List and Pray" approach. (Putting it in the MLS and praying a buyer will find it).
FORM A PARTNERSHIP WITH YOUR AGENT
Make it part of your agreement with the agent that you want to be part of the listing process. Insist on final approval of the photos that will be used to present your property to the public. One of the biggest mistakes some Realtors make is either not having enough photos or allowing poor photos to be publicized.
If your Realtor of choice is not a great photographer consider hiring a professional photographer for the photos. Discuss the cost with your Realtor and see how you can work it out. One picture is worth a thousand words. What words do you want your photos to convey?
Include final approval of the description that will appear in the MLS and in advertising.
Be guided by your Realtor as to the features that deserve mentioning. Focus on the attributes of your home that will appeal to the largest base of buyers. Taking a sentence to describe your hot tub may not be the best utilization of advertising space.
The marketing of your home should be a partnership between the agent and the seller.
FINALLY - ASK FOR REFERENCES
When we go to a listing appointment we bring along a list of referrals the seller can contact directly. Sellers seem to hesitate calling a past client. Perhaps they feel the deck was stacked with only those past clients who are favorable.
If you really want to find out how sellers rate an agent ask for references from sellers who currently have their home listed with them. If the current sellers are happy with the agents efforts that should be an indicator of how the prospective agent will work for you.
If you have any questions I'd be delighted to answer them. My area of practice is North East Pennsylvania. Through my Active Rain community I have relationships with thousands of active and successful Realtors all over the country. Some may work in your home town. My fellow Realtors who are members of Active Rain are committed and willing to help you turn your home into a successful sale.
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