The Wall Street Journal has an excellent article today on having to sell a home today and what you need to do. The one part that really caught my eye was the fourth item, Hire a top real estate agent.
We all know who they are in our town. If you are an agent and reading this site you most likely are trying to be that top agent in town. If you are it would be wise to take excerpt and compare what you are doing to emulate it.
Being an average agent will be like being on welfare these days. There is not enough work to go around to feed every real estate agent out there, that is the hard truth. You either have to be the top agent in the area or if you are smart, the top agent in a specific segment of the market.
What you want to have people say is, “If you are trying to sell your condo, call Joe, he is the one moving them these days.” or “Sally sells all the homes in our subdivision. If another agent puts up a sign odds are it does not sell, but then Sally gets the listing and it moves.”
We will be selling our home in the next year or so. And let me tell you, I have a lot of real estate friends who will want the listing. But knowing that we will be most likely facing a tough market I will not be hiring a friend, I will get the top producer. My friends may be annoyed at me, but you and I both know that they will understand.
4. HIRE A TOP REAL-ESTATE AGENT.
Get the best, most aggressive selling (listing) agent you can find. When everything was selling before it even hit the market, of course, you didn’t need the best. You just needed the cheapest. But not these days.
Fortunately, in this market, real-estate brokers are even more anxious than you. They’re eager to get whatever work they can, so don’t rely on your cousin with the real-estate license or your best friend’s wife.
Ask, instead, for the local real-estate office’s top salesperson. All offices have one or two sellers who greatly outperform their colleagues. That’s who you want.
Interview various agents and insist that they present you with a well-conceived marketing plan that goes way beyond the usual Internet page, one or two open houses and a yard sign. (Think about using a professional photographer for multiple shots on the primary Web listing, your house as the featured “home of the week” in the local newspaper, a decorating segment on a morning chat show, a stop on the local garden club’s spring tour.)
Sellers of higher-end properties should be able to negotiate a lower commission percentage, but this is no time to quibble over a couple of percentage points. Also, offer the agent a big bonus if he or she sells the house in 30 days or at your asking price. Offer other agents bonuses if they bring in the ultimate buyer. via WSJ.com
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{ 5 comments… read them below or add one }
Could not agree more with most everything you said. Even in a desirable area such as Santa Barbara CA, the market is slow enough that buyers are not hurried and have choices. In this market, a seller needs to 100% understand the choice buyers have, the pulse of the market, the reality of price setting etc. If you are not working with an agent that is selling and full time and knows the market…good luck.
Dealing with topnotch real estate agents of the moment can really help you buy or sell the best property available. this is greatly important if you are selling a property.
So, what's the best way to find your agent?
sometimes it really can be a nightmare selling your house, but I guess it all depends who you're working with. I had my share of good and bad experiences. not long ago I finally found a promising company – bought my house and paid cash right away.
A buyer may also need to have a real estate agent so that it would be easier to find the proper home to buy. This is generally more beneficial for those out of town buyers as they can be a big help during your search for property that can fit your needs and your budget.