Why I’m NOT Going to Sell Your Home
Posted 09-16-2009 at 08:24 PM by GregTraub
That’s right Mr. Seller, I am NOT going to sell your home….seriously! Heck legally I can’t sell your home, you own it, I can’t sell something I don’t own! But in reality, the statistics show that the agent you hire has about a 5% or less chance (depending on price range and location of your house) they will sell your home without a buyer agent on the other end. I hear a lot of people complain about their agent that “they NEVER show my house!” but if your agent took the time to explain the best way to sell your home, you’d know why that shouldn’t be a problem.
First off, why would you want your agent to sell your home themselves anyway? You hired your agent to represent your best interests and give you the best advice for you, RIGHT? Well if a buyer comes directly to them, you run the risk of your agent having to become either a dual agent (where they are supposed to represent you AND the buyer…how that’s possible I don’t know) or they may become a transaction agent where they only represent the transaction and can’t give either party advantage. Both ways, there’s much more of a conflict of interest and you, the seller, gets the short end of the stick.
Secondly there’s a very good reason why so few buyers go unrepresented….buyer’s agents work FREE, we listing agents pay them! So it doesn’t affect the buyer’s bottom line to use a professional to help them through the process. Only a small % of the population actually try to DIY a home purchase (I know I will get flack on that statement….I am on a real estate website that tends to attract that %).
This brings me to my third and final point …. LEVERAGE is the key to selling a home nowadays. Parlaying from my second point above, I know the vast majority of people out there that are serious buyers are working with or are going to soon be working with an agent. So, do I want to spend the limited time and marketing $’s available chasing after 1000 tire kickers that may or may not want a house like yours? Or do I focus my time networking with 1,000 local buyer’s agents that are each working with 2-10 pre-approved buyers? And as far as MARKETING goes, studies from a few years ago show 90% of buyers (I think it’s more like 99% by now though) browse homes on the net when they are not out seeing homes with their agent. There are literally thousands of national and local real estate search sites out there, and what's frustrating for most is that there is only one single site that holds ALL the listings and it has a horrible search function and limited info (you know the one). Since Real Estate is local only certain local sites will have all the listings easily searchable. This is why your house has to be plastered EVERYWHERE it can be plastered, because you never know what site the buyer for your home may be using. You have to cast the biggest net possible. You would be surprised how many showings result from a buyer finding your house on the internet, then contacting their agent for more info and to set up an appointment.
I could make many more points on this…but I figure your eyes hurt enough after this long post and you get the jist right? Feel free to comment!
First off, why would you want your agent to sell your home themselves anyway? You hired your agent to represent your best interests and give you the best advice for you, RIGHT? Well if a buyer comes directly to them, you run the risk of your agent having to become either a dual agent (where they are supposed to represent you AND the buyer…how that’s possible I don’t know) or they may become a transaction agent where they only represent the transaction and can’t give either party advantage. Both ways, there’s much more of a conflict of interest and you, the seller, gets the short end of the stick.
Secondly there’s a very good reason why so few buyers go unrepresented….buyer’s agents work FREE, we listing agents pay them! So it doesn’t affect the buyer’s bottom line to use a professional to help them through the process. Only a small % of the population actually try to DIY a home purchase (I know I will get flack on that statement….I am on a real estate website that tends to attract that %).
This brings me to my third and final point …. LEVERAGE is the key to selling a home nowadays. Parlaying from my second point above, I know the vast majority of people out there that are serious buyers are working with or are going to soon be working with an agent. So, do I want to spend the limited time and marketing $’s available chasing after 1000 tire kickers that may or may not want a house like yours? Or do I focus my time networking with 1,000 local buyer’s agents that are each working with 2-10 pre-approved buyers? And as far as MARKETING goes, studies from a few years ago show 90% of buyers (I think it’s more like 99% by now though) browse homes on the net when they are not out seeing homes with their agent. There are literally thousands of national and local real estate search sites out there, and what's frustrating for most is that there is only one single site that holds ALL the listings and it has a horrible search function and limited info (you know the one). Since Real Estate is local only certain local sites will have all the listings easily searchable. This is why your house has to be plastered EVERYWHERE it can be plastered, because you never know what site the buyer for your home may be using. You have to cast the biggest net possible. You would be surprised how many showings result from a buyer finding your house on the internet, then contacting their agent for more info and to set up an appointment.
I could make many more points on this…but I figure your eyes hurt enough after this long post and you get the jist right? Feel free to comment!
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