The last couple days I've been talking about what will help sellers to sell their properties.  In this current market, it is important to understand what is helpful and what really isn't (when all is said and done). 

Do you realize that many of the things Realtors do for their sellers aren't done because they are effective?  Agents do them their sellers want and expect them to be done.  And because sellers have certain expectations, agents do them to get more listings.  What a vicious circle!

For instance, some owners are adamant that their agent holds open houses for them.  I have covered open houses in a prior post and, to recap, they are a great way for agents to get more buyer clients and to advertise themselves.  Seldom do listings get sold directly because of an open house.

Second is the internet.  The internet is an incredibly powerful marketing tool.  It has a much lower cost for an agent, overall, than traditional print advertising.  But like print advertising, it too is limited.  You can do a virtual tour and have 5 billion pictures of each listing and you can post them to any number of websites.  How many times, though, do you think someone calls up an agent and says, "I saw this house on the internet and I'd like to buy it, please. No, I don't need to see it.  Just write up an offer."   Very rarely.

The internet (and print advertising) is a way for agents to get clients.  If someone sees something they like in one of the real estate magazines or on one of the websites I subscribe to, they call me (or the agent they are working with).  Based on that phone conversation, a time to go look at houses is scheduled (that's houses - plural - not just one house). 

How many people do you think go to an area to buy a house, look at only one property and buy that one property?  Almost never.  Most responsible people will look at a number of homes before they make their decision.  So, did the advertising (in print or on the internet) help you, Mr. and Mrs. Seller?  Not really.  What the advertising really did, was to get the client to come up and look at homes with an agent.

With that, let's get to the punch-line:  What helps sellers to sell their homes?  Who is the seller's "best friend," you ask? 

The answer is... (drumroll, please)....OTHER AGENTS. Surprised?

The reality is that you need someone with a lockbox key (unless it is a FSBO or open house) to get into houses that are for sale.  To know what is for sale in a particular area, a buyer can go through all the magazines and websites they want, but they'll still probably wonder what else is out there that they haven't seen.  Their agent knows what is on the market (through the multiple listing service), in their price range, in the locations they prefer and with the styles they tend toward. 

When a house hits the market that is absolutely perfect for someone that I've been working with, what happens?  I call them immediately!  How long does that same listing take to find it's way into an issue of Homes and Land?  Depending on production time, it could be up to six weeks.  How sure are we that my buyer will stumble onto the listing on the internet?  What are the chances that my buyer will walk into an open house that the listing agent is having (especially if they don't live in the area)?

When all the chips are down, the seller's "best friend(s)" are the other agents in that area.  Hands-down. 

But don't think it is entirely the agents' responsibility to sell your home.  You have some responsibilties as well.  We'll get into that on Monday....

Happy Easter, you guys.  Remember that Easter isn't about eggs and chocoate, but something ETERNALLY more important!