Will a Vendor Reap Rewards from a “Popular” Agent — or a “Great” One?
Recently, a television news crew turned up to one of my auctions — unannounced, as television news crews are wont to do. So I did something that, I was told afterwards, was unexpected: I asked them to leave. A lot of real estate agents probably would have jumped at the opportunity to have been featured on a big, metro news program, but not me. For me, being a great real estate agent is about getting the best result for your vendor, not the most publicity for yourself.
If I’d let that news crew stay, I definitely would have achieved some publicity for myself, but their distracting presence would have shifted the buyers’ focus away from the auction, which could have had potentially disastrous consequences for my vendor. This experience got me thinking: Do you want a popular real estate agent or a great one? Because popular and great aren’t always mutually exclusive.
Take a Closer Look at the Agent’s Achievements
When you start researching real estate agents in your local area, you’ll undoubtedly begin to see the same half-dozen or so names crop up. Sometimes the hardest part about selecting just one of those agents is that they may all appear equally qualified.
This is where I’d suggest you take a close look at their achievements. If they’re really a skilled negotiator, then their sales record should reflect that. You should see properties that have been sold by private treaty, ones that have sold prior to auction, and ones that have been sold at auction. And in the case of the latter, the final sale price shouldn’t exceed the reserve by more than 10-15 percent.
Who is Endorsing this Agent?
Another really important thing to look at is the information provided on their website. I like to fill my website with useful information that will help guide my vendors through the sales process, so they will be able to make informed decisions when they matter the most — such as whether you should you accept a pre-auction offer, or whether you should buy or sell first.
Some agent’s like to include press clippings from where they were quoted in a newspaper or TV news story, but I don’t think this is really very useful to you as a vendor. I do, however, include copies of newspaper coverage I’ve achieved for my properties. Editorial coverage is not particularly easy to achieve these days, and newspapers, given their declining column inches, are very particular about the homes they choose to highlight.
I also like include feedback from my previous vendors, because I can’t think of any better way for me to tell you about my performance than for you to hear it direct from the horse’s mouth. I realise not every agent does this, but they should be willing to supply you with feedback they’ve received from their most recent vendors, because really, it’s only their clients’ opinions of them that should matter.
Like What You See?
If you’re thinking of selling, and you’d like to learn more about selecting the best agent to sell your home — and not the most popular one — subscribe to receive access to my series of free educational videos or continue reading my blog. Alternatively, contact me for a confidential market appraisal of your home.