Selecting a listing agent is the most important step in selling your home. They are the ones who will advise you on your local market, how to price your home, and how to present it best to the public. They will also advertise your house on the internet, in newspapers, and with flyers. The greatest resource that a Realtor has however is their access to hundreds of other Realtors.
Newspaper and Internet ads, postcards and flyers are all good ways that listing agent’s help to advertise your home in your community, but the best way to get your home sold quickly is to market it to other Realtors. A good listing agent has an endless number of other real estate agent contacts. Buy exposing your home to them; your agent essentially gets it shown to every one of their clients. This puts your property right into the hands of serious buyers who are already using an agent and looking to buy a home like yours soon.
For this reason, many homes that are For Sale By Owner fail. These homeowners have underestimated the resources that a Realtor has and they severely limit the exposure of their home to potential buyers. They can of course place ads in the newspaper and place a sign in their yard, but that only reaches a small sphere of local residents. It’s the specialized skills and contacts of a Realtor that gets a home exposed to buyers all over the state and even buyers from other states. It's actually been proven that Realtors get a 16% higher price than people who sell on their own. This more than compensates for the commissions of the Realtor. When choosing a Realtor you should be sure to interview a few of them to see the different services they offer, as well as their different personalities. You want to be sure to choose a Realtor who is knowledgeable, friendly, and outgoing but also someone with whom you are comfortable.
I know that selling a home is an extremely emotional event and often times home owners want to try to sell their house for a price above what it is worth. This is where Realtors are invaluable and can help give you an unbiased and educated price range for your home. Sellers should not be quick to disregard Realtors who want to price their home below their expectations, but should instead try to choose a Realtor who is honest and straightforward. You must remember that Realtors are specially trained in pricing homes and they know how to fairly asses your property in comparison to the local market. Pricing your home correctly is what leads to a quick sale for the most amount of money.
Beware of real estate agents who go along with whatever sale price you desire without having the market research to back it up. Often times desperate agents will agree to list your home at the price you want, knowing that they will eventually convince you to lower it when it doesn’t sell. This is called ‘buying a listing’ and it is frustrating, disappointing, and costs you money. When this happens many weeks of time, effort, and advertising will have been wasted. This lost time also takes your home out of the newly listed category, which is where houses get the most attention from buyers. At that point you may be forced to drastically reduce your price in order to attract attention. An overpriced house wastes your time, your agents time, and it could cost you thousands of dollars.
Remember that a listing agent is your key to getting your home sold. They have the skills to price your home effectively and they have the contacts to get it exposed to hundreds of potential buyer. Don’t forget that when choosing a Realtor you shouldn’t simply sign with the agent willing to list your home at the highest price. Carefully consider the market and try to pick the agent that seems to be the most aware of the market conditions and most willing to help you sell your home. A higher listing price may be more appealing to you, but an overpriced house attracts buyers who are expecting ‘more house for the money’ and it doesn’t get attention from the buyers who would actually be interested in purchasing it.
Last Updated March 19, 2007