Do I need a realtor?

[Al Ball]

I've been talking to a lot of people and can't quite get to the bottom of what a realtor can do for me. They say they can access more buyers, but can't I find most of them just by doing a flat fee service to get on the MLS? What is this magic marketing they do? As background, my house is in a pretty popular neighborhood in a medium-sized city (Madison, WI) with a strong sellers' market.

[Christopher Phillips]

@Al Ball

If you place the property on the MLS using a flat fee, that will make sure that it is in the MLS. That's it.

And, if you list on the MLS, you still have to agree to pay a commission to someone that brings you a buyer. That essentially means you are paying a buyer's agent to work against you.

Only 1/3 of MLS systems automatically syndicate to Zillow. So, your mileage will vary depending on where you live. Agents make sure listings are syndicated to all the major sites, which is especially important for spotty coverage areas. Sometimes that means doing it by hand, sometimes using systems that push out the listing to the public sites.

So, what does a listing agent do for you? It depends.

Yes. Some agents will do the three Ps - Post it, Put a sign in the yard, Pray.

A large part of a listing agent's job is marketing. Not everyone is good at it.

A very good listing agent will have a detailed marketing plan to net you the most money and then negotiate on your behalf and see the transaction through to closing.

First step is Price it right. Most FSBOs overprice their homes. Most give up within 2-3 weeks. 90% eventually list with an agent. Buyers don't call on overpriced listings. Some of that is related to how buyers search online. If you're outside their budget bracket, they don't even see your listing.

Very good agents prospect daily for sellers and buyers, either by phone, door knocking, or online. Do you plan on doing that as a seller? Will you do that 5 days per week? Of course not, no seller has that kind of time.

What else does marketing mean?

Short list:

Professional photos and video. Stand alone website with the photos, video walk through, neighborhood school and transportation data.

Direct mail campaigns of Just Listed post cards.

eFlyer to agents in the area.

eFlyer to email database

Flyers, door hangers, and drop cards for neighborhood door knocking ahead of open houses.

Featured listing blasts to database.

YouTube channel for video walkthrough and updates.

Just Listed Facebook ads with links to standalone website and/or YouTube channel.

Post Just Listed ad on business page, share on personal page, and in FB groups.

Facebook Live shots of putting the sign in the yard, during the open house.

Phone prospecting  to generate open house traffic.

Scheduling of tours with either buyers or agents with buyers, done through scheduling services.

1-800-number with property info on voicemail, with live customer service support, attached as a rider to the yard sign, all print and online materials.

Print magazines and newspapers.

Will every agent do all of these things on every listing? Of course not. A very good agent will still have these things available when and where these tactics are needed.