Can’t help myself, but I believe that if I stumble while reading something, many others would stumble, too.
In this wonderful world of automation, agents send solicitations to people, and they do not notice when they are sending it to … other real estate professionals. I get it. They click, and bunch of labels come out indiscriminately, or there is a fulfilling company, which is not even in this area…
And I get my fair share in the mail.
Some are Godzilla-size postcards, some are #10 envelopes, and it is usually when someone wants to overcome my resistance to sell by their analytical skills.
I love analytical skills, so I read this stuff. Sometimes it is puzzling. Here is a short quote out of a two-page solicitation, which came in the mail a few days ago.
Here ‘s what we bring to YOUR table:
MLS data shows we are getting an average 96% of listing price for our sellers. The Daytona Beach MLS listings are averaging only 95% of listing price upon sale.
Our listings are averaging just 67 days on the market. The average listing time in the Daytona Beach MLS is 123 days on the market.
This means that our customers walk away from the sales table with more money in their pocket, in less time.
Wow, do they really walk away with more money?
If there were only the first statement, I could “swallow” it. 1% is not a huge deal, but it is good. But when they add the second statement, I am “choking”.
Here is why. Let’s say a house is worth $220K, but would take 123 days to sell. And at 95% of the listing price it sells for $209,000.
The other agent aggressively lists the same/similar house for $200,000, sells in 67 days for 96% of the listing price, and grosses $192,000 for the Seller.
So, the agent sells a house in 67 days and sells it at 96% of the listing price compared to average agent in the field.
But who said that the seller gets more money? In my example at 95% and after waiting 123 days, the seller gets $17,000 more. Of course, there might be situations when the Seller would rather sell in half the time and get less money, but do Sellers really understand that they were, probably, shortchanged? Was it with their understanding and knowledge?
Somebody may say, that they might be doing something better than average real estate agents. Is it possible? Theoretically yes, but I doubt it. If they had an ace in their sleeve, they would be bragging about it to the world. There is way more power and magic in this ace for them to forget even to mention it.
Yes, they say “our team will aggressively list….” And I wholeheartedly believe the agent. Because if all BS aside, we all know that to keep selling in half time, you need to keep listing at half price.
Well, maybe a little higher :)
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