Why Agent Selection Really Matters When Selling a Home
Why agent selection really matters when selling a home
1. There are a LOT of choices, the Pikes Peak region over 4900+, some have the experience, some do not. The sad part is most homes sellers expect that agents are experts…however…
There is little training in the industry in:
Marketing
Sales
Negotiating
Closing
In Colorado, we go through 1 month of school it gets a license and are thrown the market to go get sales…
That was my experience when I started and I came from a tech type background as a Navy Veteran and Commercial Pilot there was training and procedures, memory items for absolutely EVERYTHING…
Not so in real estate.
3. So, I would caution would be home sellers from picking the agent who offers the lowest price.. all agents are NOT the same…
4. It’s not about the lowest commission you can get. Those are agent who take bad photos, don’t help you stage, and suggest low prices for a quick sale.
5. You will actually net MORE money hiring a quality agent who knows how to command top dollar for your home, it will actually save you thousands. And months of time!
I’m surprised to hear there is no training on Negotiating and Sales. What do you mean by that?
Most agents are just ‘messengers’ they put a house on the market and send the offer over the seller and hope they sign it. Many do not even explain the 20-page contract and what it means.
To be in a strong negotiating position, the more information you have and the more choices a seller has gives the seller great information to make the best decision on the sale of one of their largest assets..
Example:
Had a darling house on N Foote. Cute 50s home that was remodeled in a great location with old world charm but modern updates. Seller insisted on only considering Pre Approved buyers.
Pre Approved Buyers vs Pre Qualified Buyers
Pre – Approved Means – Buyer is Ready and has turned in all their financials to the lender, the lender has approved the loan just need a house and an appraisal to close.
Pre Qualified Means – the lender may be pulled their credit and had a 15-minute conversion with the buyers on the phone, no underwriting approval, no verification of income and assets, it’s really just the ‘best guess’ by a lender as to whether the buyer can perform at closing.
A good agent communicates with the best offers, verifies with the lenders the buyers can perform!
A seller that has the most options and the best information WINS!
In this case, I had 4 offers, 3 were pre Qualified, 1 was Pre Approved with 20% down, 1st time home buyer no less.
Seller did not take the highest offer.
The highest offer was presented as a VA loan BUT with a pre-qualification for FHA. When I asked the agent to clarify, her answer was…”Oh sorry, I was busy” it’s not like this was a 2 day process, seller held off making a decision for 6 days. And the agent was ‘too busy’ to present their buyers in the best possible light which meant their buyer did NOT get their dream home!
These are the kinds of things that really matter when working with real estate agents.
You are listening to the Real Estate Voice with myself Barb Schlinker of Your Home Sold Guaranteed Realty, you can reach me at
719 301 3900
Working with friends and family or someone we know the best choice?
1. It can be a good experience but if it goes bad it makes the relationship a bit tricky.
2. I had one client who had tons of agent friends, she picked me because her and husband thought we were the best team for job.
3. Those ‘friends’ were not very nice to her once they found out. However, when you are making a business decision, it is just that business.
You are listening to the Real Estate Voice with Barb Schlinker of Your Home Sold Guaranteed Realty, if you are thinki
