brokerage

All too often, home sellers let their emotions get the best of them when selecting a real estate agent or broker. Selecting an agent simply because they “seem like a nice guy” is not a smart decision. Here are 10 common mistakes that sellers make when it comes to selecting an agent to represent their property.

1. My (mom, brother, friend, dog) has a relative in the business.

Friendship and bloodlines alone aren’t enough to establish professional credentials. When selecting an agent, you need to make sure the individual lives up to your standards and has the experience needed to successfully sell your property.

2. I like your style, let’s list right now.

Real estate agents are trained salespeople, so keep your wits about you when listening to a presentation. Making an impulsive decision when you’re caught up “in the moment” could lead to major problems down the line.

3. You’re the only agent that agrees with my list price.

Be careful – some real estate brokers will tell you what you want to hear, rather than what you need to hear. This is known as “buying a listing” and is an extremely poor selling strategy. Houses that are priced properly receive the most attention – homes that are priced too high will sit on the market for way too long causing frustration over the long run.

4. I don’t need to check your references.

The best way to determine whether or not a REALTOR® is competent is to check references. But not just any references, you want to contact recent customers. This will help you understand the agent’s ability to convert in current market conditions.

5. Your REALTOR® commission rate is too high.

Remember, you get what you pay for. Incentive plays a very important role in sales. The fairer that incentive is should be reflected in the service you’ll receive from your real estate broker.

6. All real estate agents are the same, so it doesn’t matter who I work with.

This couldn’t be further from the truth. To better understand the various levels of real estate professionals (including real estate agents, real estate brokers and REALTORS®), review this Sundaybell resource article.

7. I want to work with an agent that lives in my neighbourhood.

Knowledge of a local market isn’t necessarily acquired by living in the immediate area. Intimate knowledge of recent sales, models, schools, etc. can be achieved through extensive research.

8. This agent holds a lot of open houses; he/she must be good.

Good real estate brokers know better than to waste all of their time on open houses. Only a small fraction of homes are sold as a direct result of these common marketing strategies. Good REALTORS® will spend a great deal of their time and effort networking with other agents in order to attract the right kind of clients through your door.

9. It doesn’t matter what agency or brokerage you work for.

Actually, it does. Agents who work for larger, well-established brokerages may have access to larger networks and additional tools. That said it’s important that you understand what your individual agent will be doing for you and working with a smaller, established brokerage or real estate professional might be a better choice.

10. This agent sold more homes last year than anyone else.

Sales stats are important, but they aren’t the only factor to consider when interviewing potential real estate brokers. Don’t let big numbers fool you. Make sure to ask how many listings didn’t sell, or how many were reduced before they sold. Were the houses on the market for long periods of time? The answers to these questions are just as important as the number of houses sold.
Don’t make one of the above mistakes when selling your home. Meet and communicate with real estate agents anonymously at Sundaybell before you make a decision on whom you want to meet.  Interviewing 2-3 (or more) agents before ever meeting face-to-face can get you the comparative information you need in order to make a good decision.

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