What My Secret Weapon Is For Listing Your Home

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The common misconception about all real estate agents are as follows:
  • "They get paid more than what they deserve for how little work they do."
  • "Real estate transactions aren't that difficult. We're paying them to list with them on the multiple listing service, that's pretty much it."
  • "We're doing most of the labor...We have to do all the showings anyways."
  • "I don't know if I can trust most of them."
These are just some examples of why many people decide to sell their homes themselves instead of hiring a REALTOR™ to do it for them. And it's very smart. Yes, there is an exorbitant fee for service involved with the listing side of Real Estate. After today, I want to hit it home that the Real Estate Industry is more complex than it seems, and that many of us are sales professionals who honor the National Association of Realtor code of conduct and ethics.

Should You Sell Your Home (Yourself)?

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Yes. If you can do it. If you know that you are able to look at all of the data, find the right comparables, find real paying customers, stage the home, schedule showings, deal with no-shows, and potentially wait a long time before it either sells or it doesn't.

I know some friends who have done it before, and even rarer, one or two that do it on an ongoing basis. But that's rare. If you look at the NAR statistics, 7% of home sales in 2017 were from FSBOs (For Sale By Owners), and 91% of sellers were assisted by an agent when selling their home.

Further, FSBO homes sold at a median of $200,000 whereas agent-assisted homes sold for a median of $280,000. That is a huge chunk of change. Consider that on top of any fixes you had to do in order to appease the buyer, or accept contingencies that further cut into your bottom line.

By the way, Zillow and Trulia aren't precise either. When they valuate their homes, they do so using what we call AVM (Automated Valuation Models). They compare other homes using similar number of bedrooms, lot sizes, bathrooms, and types of houses. But they don't really consider the other information such as adjusting any improvements made to the homes or the education systems that can correlate to more or less value.

Price Isn't Always The Bottom Line

Did you know that 34% of sellers gave incentives to entice buyers to buy their homes? Furthermore, if your agent is any good, he will work on your behalf so that the incentives YOU receive from the buyers are as good, if not, even BETTER. The little incentives add up, and can sometimes offset or overreach any brokerage fees and sales price.

Most REALTOR™'s Are Your Friends

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We're not out to get you. We don't want to swindle you; in fact, just the opposite: we are trying to earn your trust so that you will contact us next time you want to sell and upgrade to your next home. We want you to succeed, and we want to make you money—in fact, lots of it. Many of us have corporate backgrounds and have withstood the rigors of down markets. We know that volatility is normal in this space, so we want to be able to find value for you.

Not only that, we want to be the best agents we can possibly be. When we are starting out, we are overwhelmed with the prospect of all of the nuances involved in Real Estate. Things like prospecting for new clients, creating a marketing plan, choosing our niche, studying our neighborhoods, being able to expertly negotiate deals, fill out the correct paperwork on time, and juggle all of the different balls; such as title companies and appraisals or home inspections. We are always striving to be the best agents we can possibly be, but more importantly, we want to become better human beings.

When us REALTOR™'s signed an agreement to the NAR's code of ethics, we pledged to be faithful to our clients and deliver professional services. We chose to put the bar high so that we have no choice but to either make it or break it. In our industry, there is a very fast churn rate. Many new agents quit after their first 6 months. The ones that last, and the ones that leave any positive imprint in your memory, are the champions.

Hopefully this article shed some light on what it really takes to become a Real Estate Sales Professional, and Champion. Whether it be selling your home yourself, or hiring me as your Real Estate Sales Professional, do so after you have given it considerable thought.

Can You Guess What My Secret Weapon Is For Your Home?


Sources: 
https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers#fsbo
https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics
https://www.nar.realtor/infographics/2019-profile-of-home-buyers-sellers
https://www.nar.realtor/infographics/a-snapshot-of-todays-home-sellers
What My Secret Weapon Is For Listing Your Home What My Secret Weapon Is For Listing Your Home Reviewed by Alex Sung on May 17, 2020 Rating: 5

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