02 Nov The Agent Who Brings The Buyer… The Ignored Element When Hiring A Listing Agent.
do appreciate and respect my competitors who run circles around me. I don’t hate them, I try and understand them the best I can. The most interesting thing I notice is that home sellers often are hoodwinked into believing that he with the most home listings or neighborhood signs sells the most homes.
Not even close to being true.
In 2009 my team of 3 had “sold” more properties during the first quarter than one of the cities largest competitors. This same competitor has listings on both Krypton and on every moon in the solar system. He is the top dog in Houston. He gets listings in his sleep.
But how is this even possible? I don’t list anywhere near the amount of homes he does.
The are 2 parts to a transaction.
He who sells it and he who lists it. The Buyer’s Agent is the “SELLING AGENT.” That’s the Realtor who brought the buyer. Period. In Houston I use the Houston MLS 100% of the time to find home listings for my buyers. Not 99% of the time, but 100% of the time.
I completely bypass the following:
1. Open Houses
2. Realtor Open Houses
3. Realtor fliers
4. 3rd party websites like Zillow.com, Homes.com and even Realtor.com. (I never visit these sites.)
5. Networking functions with other agents.
The list is extensive, but you get the idea.
I would bet every dollar I have that 100% of my competitors (over 25,000) here in the Greater Houston Area do the same thing. We rely on the MLS.
The point is clear. Almost NONE of us rely on a Listing Agent’s marketing approach to show our clients properties. What we do pay close attention to is..
1. Price, location, neighborhood trends, pitfalls to the transaction..
2. Photo’s. BAD PICTURES are embarrassing to our industry. I almost never show a house with terrible photo’s.
A damn good listing agent is one that knows how to market to buyer’s agents AND buyers. Not just buyers. How a property is listed on the MLS.. how it looks… these are two huge key’s in reaching out to that critical piece of a sale.
If you gave me 100 listings almost ALL of them would be sold by different buyer’s agents. I *might* find the buyer for 10% of them. That’s right! The vast majority of EVERY sale is co-oped with another real estate Broker. Try as we may, but we almost always work with another agent. I could go to sleep for days on in and eventually some Buyer’s Agent would bring me an offer. Promise.
So don’t assume he with the most signs in the yard sells the most homes.
Wanna hire a darn good listing agent? Find out how many home buyers they represented in the last 12 months. Now you’re getting somewhere. Ask them to run a custom search on the MLS in front of you so you can see the list populate right in front of you. Too direct?
If was going to pay an agent 20 or 30 grand I’d be very direct… about A LOT of things.