It is not the size of the stadium but rather the quality of the team that determines success.
In real estate it is a small team..your agent and you the buyer or seller!
It is football season so it creeps in on all I say! Go Gators!
Via
Ruthmarie Hicks (Keller Williams Realty):
Does size really matter? Do the number of listings or the size of the brokerage have anything to do with the ability of the agent to market and sell a home successfully? Is it the brokerage or the agent that is the determining factor?
What Does the Brokerage Bring to the Table?
One of the biggest issues I encounter on listing presentations are questions regarding the brokerage itself. Most questions revolve around marketing. What does the brokerage do in terms of marketing for the listing?
I think that most sellers assume that since the brokerage is “big” and has capital behind it, that they are the ones spending big bucks on marketing the home. But this is rarely the case. Many big-box national brokerages build on that confusion and perpetuate the myth that their brokerage “brand” makes a significant difference in selling a home for top dollar. They also tout their “marketing package” in terms of the amount of support they offer. Some actually stress that the number of agents in the brokerage somehow makes that brokerage better or somehow more able to move the property. With all the hype and misinformation out there it is small wonder that sellers are confused.
I would challenge these large brokerages who claim that their numbers speak for themselves to enumerate exactly WHAT they do to justify their claims? And while they are at it, I would like to have some hard numbers to back up their success stories. I haven’t seen any of them come up with any marketing advantage that holds up under scrutiny. Most of the time they appear to be blowing smoke. Don’t get me wrong, I’m not slamming big brokerages. That would be rather foolish since the brokerage that I am currently associated with is quite large. What I am trying to do is cut through the hype.
Follow the Advice of Deep Throat:
Who actually sells the listing? The agent or the brokerage? To figure that out you have only to listen to the words of “Deep Throat” in All the President’s Men. He told Robert Redford to “Follow the money!”
If a brokerage has hundreds of agents, it is likely that they have close to 1000 listings. Brokerages are business to make money on sales. For a big brokerage like this – the listings are a numbers game. Throw 1000 up against a wall and maybe half will “stick.” So how important is your individual listing going to be to that brokerage? Answer: not very.
But what about the agent? Most agents have just one to two listings at a time. Top producers can have as manay as 20-30. Agents are paid on commission. If the property doesn’t sell – all the work they did is down the drain….and there is a lot more to than sticking a sign in the ground. When a listing fails to sell an agent is out usually well over 150 hours of time AND they are generally out a good deal of marketing money as well. Do you think that agent cares if your home sells? You better believe it.
Take Home Lesson: Look to the AGENT to market and sell your home.
Stay tuned for part 2 – where some major marketing myths will be revealed.
Further Reading:
Mirror, mirror on the wall…who’s the fairest listing agent of all…Part 1:
Mirror, mirror on the wall…who’s the fairest listing agent of all…Part 2
© 2009 Ruthmarie G. Hicks http://thewestchesterview.com. All rights reserved. Initial post
Gary L. Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region. Whether your interest lies in a 55+ community such as Heritage Isle, a golf course community such as Baytree National Golf Links or water front, give me a call!
Read my blog Florida Homes for Sale and Moving to Brevard County, Florida.
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Thought it was Tom Brokaw selling real estate for a minute...in little Houlton Maine I list, market, sell from an inventory of 170 listings. Inventory and the expression, you can not sell meat from an empty wagon means selection is key. The person that has the inventory controls, guides the market. Good post. There are markets where only 6 homes, land or whatever are listed and marketing but the prices have many more zero places in them.