Is a Listing Agent a glorified task rabbit? (not trolling)

Is a Listing Agent a glorified task rabbit? (not trolling)

Rental Property Investor · Charlotte, NC · Member since 2020 · 30 posts · 66 votes

I was just reading through the recent post asking for the TOP quality they look for in a real estate agent. The comments that followed were extremely depressing. They looked more like a list of soft skills most would consider basal expectations for a virtual admin: "Responsive" "Hard Working" "Communicative" "Reliable" etc. Remember that for most people, this is the LARGEST TRANSACTION of their lifetime.

After soft skills, the second trend is throwing out the all-mighty word, "Experience." It's a fun, hard to define (and unfalsifiable) word that is hard to challenge when the card is pulled. Often, this merely points to another shallow value proposition. I know plenty of contractors who have tons of experience but I wouldn't let bid a job regardless of the price. Contrarily, I've known agents, contractors etc who became juggernauts in their market within a year or two by being smarter and harder working than everyone else around them.  Experience alone isn't a value proposition that draws a necessary correlation to results.

So... what is it then? For a listing agent, I believe the greatest goal here is NOT just convenience, legal knowledge, etc. It's about maximizing home value, so how should you choose a real estate agent to achieve that goal? 

(before you respond, please make sure your response describes the agent, not the brokerage: eg. marketing reach of keller williams still doesn't mean a agent is good at their job)

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Realtor · Member since 2018 · 138 posts · 174 votes
5y

A worthwhile listing agent is not a task rabbit, but a lot of listing agents don't do what they should.

A great listing agent is highly skilled at pricing, number 1. That includes treating every market like it's a new market, even if they just listed a home in that market 3 weeks ago. (Not doing this is why a lot of 'neighborhood experts' get caught off guard when the market is transitioning up or down - they've called themselves the neighborhood expert a few too many times and they're not doing the research anymore.)

Secondly, great listing agents are highly skilled at increasing the market value of the listing before it ever goes on market. This means:

a) coming up with a plan of realistic recommendations (varies by what seller is able to do)

b) helping the seller execute that plan to the best extent reasonable (varies by situation)

c) staging every home, whether vacant or occupied (we do our own staging but it's professional grade, for occupied homes it's usually removing some furniture, shifting other furniture around to enhance flow and feel of space, sometimes adding furniture pieces if the originals date the home too much, i.e. trading out a coffee table or couch, etc.), usually replacing ALL art work and most decor items, advising on specific paint colors that are good for resale, consulting on outdoor plantings/landscaping and often just installing some plants ourselves. Sellers get overwhelmed and it's easier to say 'just do exactly this' and 'we're taking care of this other thing'.

d) getting professional grade photos, whether that means hiring or doing it yourself. And by pro grade that means multiple exposures of each shot professionally blended so that lighting is perfect and you can see clearly out the windows (easy to find people who know how to do blending on Fiverr). 

Just staging, or just pro photos, doesn't do it - you need both.

This all involves understanding what buyers want, what the 'hot buttons' for that specific listing are going to be, not accidentally emphasizing downsides in the photos or remarks (I'm not talking about hiding anything, I'm just saying in our MLS we have a limited number of photos and characters in which to sell the house and I see these wasted with non-appealing or even repelling info sometimes).

Most listing agents get some of these right, very few get most or all of them right.

And sometimes after seeing online photos I feel like the agent should be charged with some kind of criminal offense. My sister who listed in another state told me the agent was good at photos and when I saw them on the MLS I thought I was looking at shots of a Third World prison after a riot.

My husband and I actually flew across the country to do a home staging rescue. But that agent got paid the same commission that we get paid when we list a home. So I understand where your question is coming from.

See this reply in the discussion

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  • Brad MillerPro Member
    Real Estate Agent · Duluth, GA · Member since 2016 · 63 posts · 45 votes
    5y

    A listing agent should be all the above and more.  Never forget that you are not in the home business, you are in the people business.  Your goal is to exceed expectations and be willing to do things other can't/won't.  If you (the agent) deems the responsibility of communication, responsiveness, involvement and commitment as menial tasks then being a realtor may not be the best decision.  

    You should have great people skills, exceptional knowledge of your market, constant and concise communication, ability to sell/market/advertise not only the property but the deal as well, ability to negotiate, a list of trusted/vetted vendors to help get the house market ready, etc. 

    Being a listing agent is so much more than a sign in the yard.

  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    5y

    There is value to "experience" in real estate. You can be the hardest-working go-getter in the world, but if this is your first transaction, you don't know what you don't know! On the other hand, experience isn't the only factor because I know people with 40 years of experience that have sold over 1,000 homes but they don't know how to use email or social media and they would sacrifice their own mother to make a sale.

    My #1 quality would be integrity. If they don't have that, nothing else matters. You believe the most important factor is their ability to maximize the sales price but that seems simplistic. Do you want them to lie, cheat, and steal to bring you top dollar? That may work, but it may also come back to bite you and cost you dearly. An agent with integrity will be honest up front about their abilities, their limitations, how hard they work, how they communicate, etc. It affects every other facet of their character and I would take integrity over hustle, experience, marketing, and other skills.

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  • Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Aaron Caddel:

    I was just reading through the recent post asking for the TOP quality they look for in a real estate agent. The comments that followed were extremely depressing. They looked more like a list of soft skills most would consider basal expectations for a virtual admin: "Responsive" "Hard Working" "Communicative" "Reliable" etc. Remember that for most people, this is the LARGEST TRANSACTION of their lifetime.

    After soft skills, the second trend is throwing out the all-mighty word, "Experience." It's a fun, hard to define (and unfalsifiable) word that is hard to challenge when the card is pulled. Often, this merely points to another shallow value proposition. I know plenty of contractors who have tons of experience but I wouldn't let bid a job regardless of the price. Contrarily, I've known agents, contractors etc who became juggernauts in their market within a year or two by being smarter and harder working than everyone else around them.  Experience alone isn't a value proposition that draws a necessary correlation to results.

    So... what is it then? For a listing agent, I believe the greatest goal here is NOT just convenience, legal knowledge, etc. It's about maximizing home value, so how should you choose a real estate agent to achieve that goal? 

    (before you respond, please make sure your response describes the agent, not the brokerage: eg. marketing reach of keller williams still doesn't mean a agent is good at their job)

     Find a listing agent who knows and responds well to your needs. Do you want the most money possible, or do you need it done fast. Set expectations, do you expect them to do open houses? Hire someone with the track record!

  • Real Estate Agent · Ormond Beach, FL · Member since 2017 · 215 posts · 158 votes
    5y

    @Nathan Gesner I would like to add truthfulness to the mix.  An agent should be able to tell a seller how much they should realistically expect to get for a sales price, not some "pie in the sky" number just to get the listing.  And an agent should be able to critique a property and make suggestions on how to improve its marketability.  There might be quite a bit of cleaning, repairing, painting, and staging that needs to be done.  Do you do the work (put in the time) before putting it on the market and reap the benefits of it going under contract fast?   Or do you take the lazy man's road and hope for a buyer to come along who isn't as "picky".  In summary, the big question is: Can the seller take the truth?

  • Rental Property Investor · Charlotte, NC · Member since 2020 · 30 posts · 66 votes
    5y

    @Kristin Kiddy YES. This is up my alley. Not so much the reference to soft skills (truthfulness), but alluding to an important value-adder which is that a listing agent should know what improvement investments dollars will churn the largest ROI in your market

  • Realtor · Member since 2018 · 138 posts · 174 votes
    5y

    A worthwhile listing agent is not a task rabbit, but a lot of listing agents don't do what they should.

    A great listing agent is highly skilled at pricing, number 1. That includes treating every market like it's a new market, even if they just listed a home in that market 3 weeks ago. (Not doing this is why a lot of 'neighborhood experts' get caught off guard when the market is transitioning up or down - they've called themselves the neighborhood expert a few too many times and they're not doing the research anymore.)

    Secondly, great listing agents are highly skilled at increasing the market value of the listing before it ever goes on market. This means:

    a) coming up with a plan of realistic recommendations (varies by what seller is able to do)

    b) helping the seller execute that plan to the best extent reasonable (varies by situation)

    c) staging every home, whether vacant or occupied (we do our own staging but it's professional grade, for occupied homes it's usually removing some furniture, shifting other furniture around to enhance flow and feel of space, sometimes adding furniture pieces if the originals date the home too much, i.e. trading out a coffee table or couch, etc.), usually replacing ALL art work and most decor items, advising on specific paint colors that are good for resale, consulting on outdoor plantings/landscaping and often just installing some plants ourselves. Sellers get overwhelmed and it's easier to say 'just do exactly this' and 'we're taking care of this other thing'.

    d) getting professional grade photos, whether that means hiring or doing it yourself. And by pro grade that means multiple exposures of each shot professionally blended so that lighting is perfect and you can see clearly out the windows (easy to find people who know how to do blending on Fiverr). 

    Just staging, or just pro photos, doesn't do it - you need both.

    This all involves understanding what buyers want, what the 'hot buttons' for that specific listing are going to be, not accidentally emphasizing downsides in the photos or remarks (I'm not talking about hiding anything, I'm just saying in our MLS we have a limited number of photos and characters in which to sell the house and I see these wasted with non-appealing or even repelling info sometimes).

    Most listing agents get some of these right, very few get most or all of them right.

    And sometimes after seeing online photos I feel like the agent should be charged with some kind of criminal offense. My sister who listed in another state told me the agent was good at photos and when I saw them on the MLS I thought I was looking at shots of a Third World prison after a riot.

    My husband and I actually flew across the country to do a home staging rescue. But that agent got paid the same commission that we get paid when we list a home. So I understand where your question is coming from.

  • Rental Property Investor · Charlotte, NC · Member since 2020 · 30 posts · 66 votes
    5y

    @Irene Nash Hell yeah. Phenomenal comment and I completely agree. Thank you for not listing any soft skills in this value proposition :^)

  • Realtor · Member since 2018 · 138 posts · 174 votes
    5y

    @Aaron Caddel Sure thing, I hear you. :) A lot of mainstream real estate talk and advice, whether to clients or to new agents, is over-conceptualized and really hard for people to get a grip on and understand how it's going to work or how to put it into practice.

  • Rental Property Investor · Charlotte, NC · Member since 2020 · 30 posts · 66 votes
    5y

    @Irene Nash If you weren't a realtor, which interview questions would you use to get the best agent in your area?

  • Realtor · Member since 2018 · 138 posts · 174 votes
    5y

    @Aaron Caddel I'm heading out of my office right now but will get back to your question, just checking that it sounds like you're mostly concerned with a listing agent right now? Or are you equally looking for a good buyer agent?

  • Rental Property Investor · Charlotte, NC · Member since 2020 · 30 posts · 66 votes
    5y

    @Irene Nash super grateful, thank you! and just for a listing agent. If you're ok with it, I'd love to quote you as well to use it on a blog post! :^) just let me know and if you'd like me to backlink you if you have a site.

  • Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    5y

    The right listing agent will help you get the maximum value out of the home more importantly that once you hire this person the job will be done right. 

  • Member since 2019 · 111 posts · 130 votes
    5y

    I have only sold 3 homes.   2 were listed by a family member and the other by a business partner.  

    I heard a good quote on a biggerpockets podcast:  "People do business with people they know and trust."   So to be a good listing agent, being trustworthy and knowing a lot of people is a good start.   Also, for me, prompt communication was important because listing homes can be very emotional and stressful.  Not knowing what your agent things about the latest emergency adds to the stress.   ( a quick text like "I got this." or "this is normal, don't worry."  go  a long way.   But if the agent doesn't know how to handle the situation, it's better to say "Thinking."  "strategizing with a co-worker", or "I'll call you after I get out of this meeting in 45 min" because pretending to be in control breaks trust faster than admitting the truth...)

    And I don't think the primary objective for a listing agent should be to get the highest possible price for a house.  A quick, smooth, friendly transaction could be worth several thousand dollars.   A good listing agent will tactfully propose high-value repairs; help select between competing offers; negotiate repair addenda; communicate with insurance agents, title companies, loan officers, home inspectors, tax assessors, etc.

    So why do you ask?   You mention a blog.  Are you selecting a listing agent? Training to become an agent?  Training a team of agents?  Or simply creating content that you hope to monetize?

  • Rental Property Investor · Charlotte, NC · Member since 2020 · 30 posts · 66 votes
    5y

    @Joel Florian, I appreciate the comment; plenty of good points here. And you are totally right: most people choose an agent according to trust, but I'm not sure that's the right filter for decision-making. Eg. if my aunt is an agent, that doesn't mean she's a good agent or can meet my needs as a home-owner.. It just means she's an agent. You argued that not everyone is trying to get top dollar, and that's understandable (and a personal motivation) but even if you don't care what price your home sells for... selling a home is usually the most valuable transaction of someone's life and I hope folks aren't listing with someone simply because of a connection on a family tree.

    Re: blog, I'm reading into that "content.. to monetize" part :^) Ultimately, I make money in real estate, but probably like yourself I do that by adding value to people as often as possible. Sharing knowledge with real and potential customers is usually a good idea. Hence, here we are on a very profitable website that monetizes on our involvement for the good of the community (said differently, capitalism can be a win-win).

  • Investor · Indianapolis, IN · Member since 2020 · 234 posts · 194 votes
    5y

    Great comment @Irene Nash and yes the main comment is true that being "responsive" or professional seems like a low bar, but even that is a lot to ask.  Most people in most any profession are lazy, unmotivated and un-remarkable in nearly any way.  The stars will stick out.

    I have sent buyer and seller leftover leads to realtors and at least 7/10 will drop the ball or blame the "bad leads" but that one or two or MAX three out of 10 will turn dust into diamonds.  A great listing agent is like a great anything, uncommon and the real question is what are you doing so special to attract and keep people like that on your team.  Thank you.

  • Realtor · Fayetteville, NC · Member since 2019 · 97 posts · 109 votes
    5y

    I think a great listing agent has to have a great team behind them.  

    The listing agent can be great but if there is a strong team in place and processes that are proven, it makes everything so much better.  

    So, it is important to ask about their systems and team.  No one is great by themselves; if they are it is not scaleable.  

  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    5y
    Originally posted by @Aaron Caddel:

    I was just reading through the recent post asking for the TOP quality they look for in a real estate agent. The comments that followed were extremely depressing. They looked more like a list of soft skills most would consider basal expectations for a virtual admin: "Responsive" "Hard Working" "Communicative" "Reliable" etc. Remember that for most people, this is the LARGEST TRANSACTION of their lifetime.

    After soft skills, the second trend is throwing out the all-mighty word, "Experience." It's a fun, hard to define (and unfalsifiable) word that is hard to challenge when the card is pulled. Often, this merely points to another shallow value proposition. I know plenty of contractors who have tons of experience but I wouldn't let bid a job regardless of the price. Contrarily, I've known agents, contractors etc who became juggernauts in their market within a year or two by being smarter and harder working than everyone else around them.  Experience alone isn't a value proposition that draws a necessary correlation to results.

    So... what is it then? For a listing agent, I believe the greatest goal here is NOT just convenience, legal knowledge, etc. It's about maximizing home value, so how should you choose a real estate agent to achieve that goal? 

    (before you respond, please make sure your response describes the agent, not the brokerage: eg. marketing reach of keller williams still doesn't mean a agent is good at their job)

     Experience is a real thing. Inexperienced people think they know everything, so they sometimes move faster, but often because they are blind to risks or rules. You don't know what you don't know.

    If you were having a surgery, would you rather have a doctor doing their first surgery or one with 100 similar surgeries as experience? Any sane person would pick the person with experience. In the end, experience teaches you everything that is not in the text book, YouTube videos. etc.

    I have argued before that resourcefulness is the most important skill. The ability to use experience, information and relationships to create solutions is what is most important. Applying this to a real estate agent, it is the ability to know what sells houses for maximum value in the shortest time or what gets offers accepted. This varies by market and type of property.

    TaskRabbit is fine for low dollar items, because there is low risk. If a $100 task goes wrong, you are out $100. Buying and selling a house is much more complex and involves way more financial risk. It is also very emotional. Half of what agents do is manage emotional sellers or buyers. 

  • Realtor · Member since 2018 · 138 posts · 174 votes
    5y

    @Chris Stroup I totally understand it's important for the listing agent to not get overwhelmed, but "scalable" doesn't matter to the one client who wants their one listing marketed in the best possible way. We don't have a team, but we have a process that works really well, and no, we wouldn't want to be doing 10 listings a month. But that actually works better for our clients.

    I've heard an acquaintance say he walked into a real estate office and said 'Let me talk with your highest producer' when he was looking for a listing agent, and that's the person he hired. But I looked at his home's listing photos and the home's presentation and they were below par, so were the marketing remarks.

    "Scalable" is good for the agent, but sometimes (not always, I realize) 'big producers' are leaning more towards churning things out in quantity - not necessarily doing a bad job, but sometimes not the best job because that does take a lot of time - and it will often never be noticed by the seller, but is noticeable by us who are in the industry. And it's only how that one specific sale is handled (not how scalable the agent is) that matters to the seller and affects their bottom line.

  • Realtor · Member since 2018 · 138 posts · 174 votes
    5y

    @Aaron Caddel Sure, I was actually going to turn that into a blog post myself seeing as I managed to type in 5 minutes what normally I would have sweated over for an hour or two. :) But honestly I think it's fine if I do something with it and you use it as a quote for your blog, just obviously please use it as a quote and link back to me as you mentioned. I'll PM you the site seeing as we're not supposed to post our business links on the thread, and I'm happy to link to your page as well when I post as well - I know Google doesn't like duplicate content but I'm sure the articles will have other things different about them. Thanks for appreciating the post!

    As far as your question about finding a good listing agent:

    The first place I start when helping clients who are looking for a listing agent in a different area is by searching listings online and noting who has great home presentation - staging and photos. Agents whose photos are poor quality, have listings with rooms that definitely should have been de-cluttered or at the very least straightened up, or who obviously used a professional photographer who wasn't very good, get ditched. Also, homes that are over-staged - the agent is the one who knows what SELLS homes, and needs to be able to make sure that even a professional stager doesn't head towards the 'very staged, but less sellable' side.

    One thing (a small thing, but helpful) I like to see that even good listing agents don't always do is to have grey sky replaced with blue - not fake blue, just the kind of sky that would have been there on a nice day. Some photographers will do this as part of their service, if not there are people on Fiverr who do a really good job with this. I know photographers will say that medium light or a non-sunny day is best for photos, but they are not agents who sell homes, that is mostly true of portrait photography. In real life, with real buyers, sunny days sell better, as long as the house isn't affected by crazy shadows in the wrong places. But the blue sky is something you can do yourself once you get the photos if you need to (on Fiverr).

    Then of the people with good photos I'll check reviews on their site and on Zillow. I think Zillow still vets reviews, unlike Yelp (which hides all kinds of legitimate reviews). Also Google reviews can now be a pretty reliable source too - but I think Zillow is still pretty good.

    Then as far as interviewing agents, I really want to feel like a) they know what they're talking about in terms of market valuation, and b) they care about having the house present at its maximum value and can help provide recommendations about that.

    So they should be able to explain to you, with comps, why they're coming up with the price opinion they came up with.

    And as far as what they do, my husband and I include the staging and photography as part of our service, so don't charge extra. And we end up doing a lot of other work (hours of consultation, my husband will throw in some labor, etc.) However, we are usually working with highly referred clients or previous clients, it's a much bigger risk for an agent to shell out a lot of time and money for a listing that's less of a sure thing.

    So, the bottom line is your home should be prepped, and definitely should have professional grade photos, regardless of who takes them. And one option is for seller to pay for them initially and be reimbursed at closing, which takes some risk out of it for the agent.

    Just a note though, if you know you'll be selling to investors, that's less of an emotional decision and I think the staging plays a less significant part in affecting decisions. In our area most homes target both markets, and primarily owner occupants.

    Another important thing to note is if the agent has a history of pricing correctly. I think you can check this on Zillow by looking at 'sold' listings and checking market time, and price history. Someone who consistently prices high and with above average market times could be problematic. And if you have access to the MLS this is easy. But it's something that's legitimate to ask the agent about - their track record of listings over the past few years, showing days on market and sold price relative to list price.

    There are a few ways to tweak that as well, i.e. we get postcards from a company talking about their agents' sold price to list price ratio, but if I look up their listings it's the 'most recent list price', after a price reduction. Meaning, they overpriced, dropped the price, and then got a sale and sent out a postcard talking about how great they are. :)

    I know this is long, hopefully some of it is helpful. But if you have specific other questions about this I'd be curious to hear.

  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    5y
    Originally posted by @Irene Nash:

    @Chris Stroup I totally understand it's important for the listing agent to not get overwhelmed, but "scalable" doesn't matter to the one client who wants their one listing marketed in the best possible way. We don't have a team, but we have a process that works really well, and no, we wouldn't want to be doing 10 listings a month. But that actually works better for our clients.

    I've heard an acquaintance say he walked into a real estate office and said 'Let me talk with your highest producer' when he was looking for a listing agent, and that's the person he hired. But I looked at his home's listing photos and the home's presentation and they were below par, so were the marketing remarks.

    "Scalable" is good for the agent, but sometimes (not always, I realize) 'big producers' are leaning more towards churning things out in quantity - not necessarily doing a bad job, but sometimes not the best job because that does take a lot of time - and it will often never be noticed by the seller, but is noticeable by us who are in the industry. And it's only how that one specific sale is handled (not how scalable the agent is) that matters to the seller and affects their bottom line.

     Great point! Highest volume and highest quality are almost never the same product or service. 

  • Realtor · Member since 2018 · 138 posts · 174 votes
    5y

    @Joe Splitrock Exactly! And traditional real estate marketing emphasizes volume as the biggest marker of success, so that's what clients are predisposed to rely on.

  • Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
    5y

    @Aaron Caddel Expertise, access to the MLS and other marketing tools, the safety net of Errors and Omissions insurance, "greasing the skids" by responding quickly, providing a layer of separation between buyer and seller to make the transaction go smoothly, making it easy for potential buyers to see the property and get information about it, expertise, knowledge, and expertise. I've only been an agent for not even a year but I was active in real estate for a long time before that and worked with some great agents that definitely saved me from some major pitfalls as I was still gaining experience as an investor. There's a reason why only 10-20% of FSBO's are successful according to NAR. One reason is that agents control the market and blacklist FSBO's because they know they'll be dealing directly with a potentially unrealistic seller and likely doing twice as much work on the deal. Beyond that, what listing agents bring to the table is helping sellers avoid making many beginner mistakes. It's not super complicated but if somebody has never sold a property before, they're highly likely to make at least a few of these classic mistakes: 1. Not pricing the property right. Sellers almost always apply sentimental value to their home, don't understand how to pull accurate comps (no Zillow is not accurate) and end up listing too high. The key is listing at the right price to get the most attention on the property initially and create a competitive situation with multiple buyers interested. It takes local market knowledge and MLS access to really get pricing right. Pricing too high leads to the property becoming a stale listing, potentially stigmatizes it and generally leads to longer time for sale which has a cost in itself and also a lower sale price. 2. Not marketing the property right (thinking cell phone photos, a cheap sign in the yard and just putting the property on Craigslist is all you need to do). 3. Not following disclosure laws properly (leading to the deal falling through, getting beat up on price after inspection, or worst case scenario, a lawsuit post-sale). 4. Not staging, cleaning, making the right minor updates or preparing the house by decluttering, pulling weeds, cleaning surfaces and windows, painting rooms a neutral color, updating door knobs from 80's gold to something more modern etc. just making inexpensive upgrades that can really boost the salability and value of the property. 5. Not negotiating on terms. Sometimes the highest offer isn't the best offer and the layman usually doesn't understand all the terms of a contract. 6. Keeping the deal on the rails. A lot of FSBO deals fall through because buyers and sellers get hung up on some silly detail, and end up angry with each other based on principle. Good agents bring sanity into the equation by negotiating and communicating professionally in order to keep things moving forward in a civil manner. 7. Not wanting to work with buyer's agents or pay commissions. Many FSBOs are leery or suspicious of agents and don't want to work with them. They're probably tired of being approached by agents trying to get their listing (which is totally understandable), and they have a chip on their shoulder from a previous bad experience or just think agents are overpaid for what they do. But most buyers are working with an agent so like it or not, alienating agents limits the buyer's pool severely. 8. Not qualifying buyers (or qualifying too hard and scaring them away). Many FSBOs don't know to ask for a prequalification letter from a lender or proof of funds with an offer, or how to separate the "looky-lous"/ tire kickers/ wholesalers/ scammers from the serious buyers. Others grill potential buyers ruthlessly and establish bad rapport from the onset, which isn't a good way to make a sale. 9. Being present at showings. If you're selling your own home you probably are scheduling showing appointments yourself and want to be there rather than letting strangers poke around your property unsupervised. Buyers don't like having the seller there typically, it makes them nervous and the owners comments are distracting. It's easier for a buyer to imagine the home as their own if they're not associating it with the seller. FSBOs also tend to "oversell" by pointing out all the great features of the property which can be annoying for buyers and make them feel uncomfortable. People love to buy, but they hate to be sold. Don't be there when the buyer is there is a basic rule that FSBOs violate all the time. A listing agent has access to a showing app that makes scheduling showings easy, tracks who was at the property when, and anyone visiting the property is with a buyer's agent that has passed a background check, follows strict showing guidelines, is insured, is regulated by the real estate commission, and risks losing their license or being fined if anything goes awry during the showing. 10. Evaluating offers. Sellers often don't know what to negotiate and what not to negotiate in the contract, or how to identify key differences between offers, or how to create a bidding war to fetch the maximum price without turning buyers away. 11. Understanding legalities, what's enforceable in the contract and what isn't, what all the contingencies are, what the sellers and buyers rights are, etc. Real estate agents are essentially practicing law (in a very limited capacity) and most people wouldn't represent themselves in legal matters.

    There's a ton of other both little and big things seller's don't typically do as well as experienced agents would. Many of these mistakes can be avoided with a lot of research by an educated seller, as well as by using one of the better FSBO services out there, but nothing will make the transaction as efficient and successful as using an experienced agent.

  • Real Estate Agent · Norman, OK · Member since 2017 · 6 posts · 4 votes
    5y

    @Aaron Caddel A great listing agent should be able to maximize the value of your home and maximize the net in your pocket at the end of the transaction. Yes, they should be honest and truthful, that’s just being a good human. 

    By understanding their market and by using best practices they should create competition among buyers for your home.  They should be able to understand, interpret and explain the market that you’re currently in. Understanding if this is in appreciating market where there is demand or depreciating market where you need to get ahead of a downturn.  Understand how to price correctly. They should be able to negotiate repairs and have resources for repairs that can save you time and money. 

    Usually the difference between a great listing agent or an average one is a 1% difference in several areas. In the end it adds up. 

    An average listing agent might just be a glorified task rabbit.

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