Is there really a difference between agents?
I recently assisted a buyer to purchase a home. The house had been previously listed in the last couple of months for $15,000 less than my buyer is now paying.
Why didn't it sell while it was listed for so much less? It's possible the house was cluttered. I don't know for sure since I didn't have a buyer for it during that agent's listing of it. So I hadn't seen the interior previous to showing it to my buyers.
So what's different now? The house in now bank-owned due to foreclosure. So they might have had it cleaned out if it needed it. Other than that, the house hasn't been repainted, redecorated or 'staged' at all.
Here are some significant changes that I am aware of-
The commission % to a buyer's agent has been increased.
The new agent is easy to work with. By contrast, the previous agent has a reputation for-
failing to return other agents' phone calls
trying to sell his/her own listings instead of working cooperatively with other agents to secure the best possible sale for the seller.
All showings had to be arranged by reaching that hard-to-reach listing agent!
When listed this time for nearly $12,000 more, there were 3 offers in the first 3 days!
Usually we say having the price and property condition right are the 2 keys to selling. This illustrates a third key- a good listing agent!
8 comments • Janine Hook • July 17 2008 11:58PMComments
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Janine: I think the major point here that you bring up... the reputation and ease of working with her can make all the difference in the world. There are always agents who... once we see their name on a listing we think... awww, geeee... her again. And we think we are still waiting for a return phone call from her from last November... LOL.
So probably both things... the higher buyer's agent commission, and the prospect of working with an agent that is a joy to work with. Good for you... I am glad you sold it... Hooray !
There are huge differences in some agents. I have made calls to agents regarding their listings and have never gotten a call back. Those are houses I will never show. If i can't get a call from them, how the heck am I going to conduct a deal with them. I would probably have to do all the work and split the comm. I will steer clear of those if I can.
Unfortunately I have encountered the same problem. Some agents don't return my calls for that very reason. They are more intent on double siding the sale than representing their client. They are NOT the ones who join communities such as this.
All agents are not created equal, i think the equality comes down to one thing, Communication and respect ok thats two things. good post
It sounds like there were a lot of differences this time around. Making the property tough to see, especially in today's market, is just not conducive to getting a property sold.
The agent really does make a difference when dealing with other agents. It can make a difference between a property sitting and flying off the market.
The Agent really does matter. In almost any service oriented business.. I have had referrals come to me for a loan, the two other loan officers could not get done. I was able to get the loan closed. It is paying attention to the little things that can make a big difference.
Who the agent is and their work ethics is so important! There are huge differences in agents. I have made calls to agents regarding their listings and have never gotten a call back. Why should I sell one of their listings and know that getting in touch with them or having to do all the work myself is not something that appeals to me. This business is just too hard to fool with lazy agents. I won't do it.