I’ve Got a Buyer For Your House
We have had a lot of success when we are called in for competitive market evaluations for sellers who call in two or three other agents. On those occasions when we don’t get the listing,we often ask the client why they didn’t choose us to list their home.
Many factors come into play in the decision making process to choose a listing agent. Some are more tangible like the quality of the listing presentation or the track record of the listing agent. Some are a bit more esoteric such as the feeling of a stronger rapport or a sense of familiarity because they have received a promotional postcard or have seen the agent’s picture in a newspaper ad. All of these and many other factors can play a role and are of varying importance.
However, there is one comment that really irritates me when it is the primary reason for a seller’s choice.
That line is:
“I decided to list with _________ because they assurred me that they have ready, willing and able buyers for my property”.
There are many problems with this line of thinking.
Do you believe that they wouldn’t bring the buyer(s) to your home if they weren’t the listing agent? If this were the case, they wouldn’t be representing the needs of the buyer and would be placing their own needs above those of the buyer.
Would you be well served with the listing agent also representing the buyer? In Illinois, if an agent is performing “dual agency”, they aren’t supposed to provide advice to either party. Their role is really only to act as a transactional broker and to help with the mechanics of the deal but not to counsel either side.
By not exposing the property to the full market by quickly wrapping up the deal with the listing agent’s own buyer, the seller will never know if the potential benefits of exposure to the full market would have provided an opportunity for a better price and other terms that would have been more beneficial.
In spite of all this, many sellers don’t read through the fog and are seduced by the idea of a quick, easy sale.