Some of the criteria will apply to the individual agent, while others will apply to the agent’s company. While both play important roles for creating a positive outcome for you, it’s ultimately the agent who determines your level of service and results.
A real estate agent’s value should be separated into two
general areas, SERVICES and RESULTS.
SERVICES
describe what the agent does; the things in which he/she has control and does
during a listing period.
RESULTS
describe what you the seller receive; the measurable outcomes. An impressive list of services is only
meaningful if it produces a closed sale in a reasonable amount of time.
Services don’t stop just when you receive and/or accept an
offer. The agent oversees the sale of your home from
·
Putting it on the market
·
To negotiating an offer
·
To direct involvement throughout the listing
process until the final closed transaction
You are not paying for just the time it took to receive an
offer. You are paying for the years of experience the agent has and for the
service and experience that insures the listing results in a closed sale.
Agents are not paid for their time, but for the results they create in that
time.
With that in mind, it’s
important for you to understand the “EIGHT” major events that occur in every
transaction. Typically, #8 will not happen unless the first seven are performed
properly and in a timely manner:
1.
Marketing Management
2.
Exposure to Agents
3.
Exposure to the Public
4.
Secure Prospects
5.
Demonstrate Your Home
6.
Secure an Agreement to Purchase
7.
Closed Transaction
8.
FINAL EQUITY PAYMENT* (This obviously only
occurs if it’s an equity sale)
You may have noticed that the determination of “asking price” is not a step in
this sequence. This is because it is not a criteria in which to select an
agent. Too many homeowners make the mistake of selecting an agent based on the
selected “asking price” the
agent recommends instead of their ability to perform the above mentioned steps
and ultimately achieve market value. We call this technique, “buying the listing”.
Some agents use this technique to convince the homeowner
that they have the ability to get more money for their home because of their
marketing plan, their performance history, the company they work for, etc., and
are looking to “buy the listing” through false promises. Although each of those
areas is of importance when selling a home, the agent cannot control or increase
the “market value” or “buyer value” of a property. Just like an agent cannot
control the motivation to sell on the part of a homeowner, or the motivation to
buy on the part of the buyer. And, more times than not, the agent will usually
come back to the homeowner with price reductions after days, weeks or months on
the market because there are no showings and no offers. The listing becomes
stale and nobody wants to show the property until the price is down to market
value. In the meantime, valuable time has been lost and potentially money left
on the table. The only one who benefits from this technique is the agent
because he/she may get other leads through their marketing efforts and exposure
of the property.
Be aware of this selling technique and contact us before making a decision.
Our goal is to make sure you select the real estate agent/company that will save you money, free up the stress of moving and make this new chapter in your life an easy experience.
If you are considering selling your home then we need to meet.
Jeff Petsche
951-316-6400
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