WHAT WILL YOUR REAL ESTATE AGENT DO FOR YOU WHEN SELLING?
Update March 27, 2015 When too many families decide to sell their home, they turn over too much control
to their real estate agent -- including their common sense. Many families are selling because they have to sell. Maybe they've
already bought another home, or maybe they're moving to another city, or maybe they've decided to move into a smaller property
because the kids are off to college or on their own. And because they have to sell, they turn over too much of their own decision-making
to the Realtor hoping that the Realtor knows best.
Unfortunately while the Realtor knows plenty,
the Realtor might do what is best for the Realtor and not for the home sellers. Realtors work on a commission and are rarely
if ever paid anything in advance for the sale and marketing and advertising of your home. And that is precisely why Realtors
are hesistant to invest anything and especially real money into the sale and marketing and advertising of your home. If there
is any marketing and advertising of your home it will no doubt be in some newspaper or leaflet that will feature dozens of
other homes being marketed by other real estate agents in the same office and that advertising is probably paid for by the
agent's office with very little coming directly out of your agent's pocket.
One of the common
"perks" that a Realtor might tell you about is holding an "Open House" at your property. Realtors might
even promise you multiple "Open Houses" to showcase your home. But don't be fooled by this promise because the dirty
little secret of the real estate business is that most Realtors use the open house at your house to find buyers for other
properties they are selling. After all, when "Jane and Bob" walk into your house on open house day and tell the
Realtor "it's just not right for us" the first thing your Realtor is going to say is "what are you looking
for? I just might have a property for you!"
Realtors, for the most part, are still stuck
selling homes the same way the industry sold homes in the 1950s and 1960s. They put up a sign on your front lawn, they knock
on doors and hand out leaflets, and they put "hangers" on door knobs. But a lot has changed since the 1960s including
the Internet and YouTube and TV and radio and Realtors for the most part either don't know or don't want to spend the money
to use this new media.
Can you blame them for not spending the money? Perhaps not, because they
only get paid when your home is sold and they collect the commission. It takes a progressive-thinking Realtor with some money
in the bank who is willing to invest in advertising and promoting your property.
It also takes
a real estate agent who cares about your listing. If the real estate agent has many listings he might give preference to those
with a bigger price tag because they will bring a bigger commission. This is why you must be careful about signing with a
"listing broker" who doesn't really care about selling your home -- he cares just about getting your listing. Then,
the listing broker sits back to collect a commission when another Realtor finds the buyer.
is why you must carefully interview any Realtor before you list your home for sale. Ask if they are a "listing broker"
or if they will actually work to market and sell your home. If the Realtor says they will hold an open house at your property
say "no thanks," because that's not likely to produce a buyer for you. Ask how your home will be advertised and
marketed? Will a video be put on YouTube? Will there be a special website created with the website address on the "for
sale" sign in front of your home?
What about Television advertising? While there are real
estate programs on TV beware of those that are on "public access channels" on cable TV systems that in reality have
very few, if any, viewers. On the other hand, traditional TV can be affordable with expert guidance.
often heard the phrase that your home is the biggest investment of your life. Well, investigate your options properly for
what certainly is the biggest investment of your life. And don't let a real estate agent nickel and dime your big investment.
It's a new world, and selling real estate the way it was done in the 1950s and 1960s won't necessarily bring you the best,
most qualified buyer with the best offer in this new era of new media.
Remember that the same
way consumers go online to shop websites for a dress or a car or a watch, they also can go online to shop for a new home.
Be sure your home has a prominent online presence with video, full descriptions, and a virtual tour to substitute for an open
house. And remember, an "open house tour" on the Internet and on traditional TV can bring thousands of people into
your home and the carpets will not get dirty and no one will break your Lladro sculptures.