In a couple of previous podcasts, I spent some time discussing the role of the listing agent in the real estate transaction both before and after the home is listed for sale and I hope that I was able to convince you that listing a home is far more than just sticking a sign in the ground and collecting ginormous checks.
A good listing agent is worth their weight in gold and more than earns their commission. Unfortunately, finding that agent often takes a more hands-on knowledge of how the real estate industry works then most home sellers could ever be expected to have. So over time, I will be posting podcasts that help home owners find the right agent. You may even decide that I’m the right agent for you, and that would be awesome.
When you ask the listing agent how they plan to handle the showings, listen carefully. If they discourage the traditional lock box and want the showing agent to pick up keys at the brokerage, its a potential red flag. The same holds true for an agent that insists on being present at all the showings.
A typical seller might ask why this is a problem. After all, it looks as though the agent is just doing his/her job and being industrious. There is nothing wrong with being industrious, but it should be for valid reasons. These days, we have electronic lock boxes with coded access. These aren’t the flimsy boxes of yesteryear. So Unless the home is in the $2 million+ range and security is truly an issue, these conditions are only creating unnecessary roadblocks for buyers agents and their buyers. You know, the people who want to see your home because they are in the market to buy a house!
What happens when you throw a logistical monkey wrench in front of the buyers agent like making them pick up and return keys to a brokerage that may be miles away from the listed property? Or worse, force them to arrange a showing time that has to work itself around your listing agents schedule? It creates unnecessary friction in a showing schedule that is often jam-packed with listings in different locations on razor-thin time margins.
This discourages the buyers agent from showing the home. Most buyers agents will take the difficult to show properties off the top of their list and put them at the bottom of the showing pile. This maximizes the number of relevant homes the buyer is exposed to and prevents needless delays and detours which buyers aren’t fond of. If your home is difficult to show, it doesn’t matter how nice your house is because many buyers may never see it before deciding on another house.
This may also be a sign that the agent is actively discouraging agents from bringing their buyers. If the agent also brags about having reputation for “selling their own listings” (procuring the buyer themselves) you should probably run the other way.
This may sound strange, so allow me to explain. At any one time there are between 5000-7000 agents working in Westchester county. That’s a lot of agents. You want all those agents happily and willingly bringing their buyers to your home. An agent who works overtime trying to procure buyers for a listing may discourage other agents from bringing their buyers. It implies that deliberately double-ending is part of their business plan. There are huge conflicts of interest at work here. So, although this often works out well for the agent, it can well be at the sellers expense.
Remember, that buyers agents set up the showing schedule. They are very often the gatekeepers of the buyer pool and you want them to want to show your home.
The biggest red flag is the agent that wants to be present at all showings. I’ve worn the buyers agent hat often enough to know that many agents who insist on this are really trying to get a face-to-face engagement with my client in an attempt to steal that client and double-end the transaction. There are few agents who are known for this practice and buyers agents know who they are and try avoid these agents and their listings if they can. The person who loses out in this scenario is the seller whose house isn’t being shown nearly as much as it should be.
The bottom line is this: The purpose of the listing is to sell the home for the best price and terms. No more, no less.
© 2015 – Ruthmarie G. Hicks – https://thewestchesterview.com – All rights reserved.
Please feel free to contact me anytime to request additional information or to set up an appointment so we can explore your listing or purchasing needs. I am easy to reach by phone, text or email. Or, if you just want to continue your search online, the links below will help you get started.