How To Choose The Right Agent
Selecting the right agent is one of the most important decisions a homeowner can make when deciding to sell their home. Comparing performance from agent to agent can sometimes be a challenging task because of the unique set of variables that come into play on each property. Recently, we had a scenario that can give you some unique insight into how the agent’s approach, preparation and marketing plan can have a significant impact on the final result. We recently listed a property and an exact model match came up for sale on the same street the next day. We had spoken with the owner of the ‘other’ property who decided to list with another agent because the agent had rented the property for him for several years and he had ‘promised’ him the listing during that time. Even though the two properties were a model match, they were very different. The ‘other’ property had been highly upgraded inside, was professionally landscaped and had great curb appeal. Our listing had all original kitchen and bathrooms and was it’s original ‘pink’ color on the exterior. We recommended some cosmetic upgrades to the property, including paint, carpet, refinishing of some wood floors and replacement of a few fixtures. We also felt it was very important to have our designer stage the property.
We recommended a listing price to the client, which was slightly higher than their expectation given the condition of the property. We listed the property strategically at $1,250,000 based on how we felt our property fit the market. The other agent waited for our property to go on the market before he listed his. He chose a number $45,000 higher than our list price because, we can only imagine, he felt his listing was superior to ours and should be priced higher. We had offers coming in the first week on our listing while the other property was listed for over 3 weeks before they decided to reduce the price to $1,245,000. Our clients accepted an offer of $1,215,000 while the other property sat on the market for another few weeks until they decided to reduce the price again to $1,195,000.
Our property recently closed at $1,215, 000 and the other property recently closed at $1,170,000. Our sellers sold their property for $45,000 dollars more than the other property; their property was not nearly as upgraded as the other property but ended up selling for more money. WHY? Because we had a plan and we prepared that home and executed that plan perfectly. In our opinion, the other property was a much nicer property and should have sold for significantly more than our property did. The agent who listed the property did not prepare, market and negotiate correctly and it cost his seller at least $45,000 if not MUCH more.
All agents are not the same; All agents do not do the same things; All agents do not produce the same results. Homes do not sell for an exact price they sell for a range. Now more than ever it is important to pick an agent who shows you their strategic plan for preparing and marketing a home…do not assume that the result will be the same regardless of who you choose.