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There are many myths about selecting the right real estate listing agent. These five insights will steer you to a responsive, experienced professional most compatible with your selling goals.
A so called “Top Producing REALTOR®” isn’t necessarily the best Suncoast listing agent to to suit your needs. With all due credit to the ‘best of the best’, the reality is that in this day and age, a top producing real estate agent must rely on a team of associates to list and sell property. And listings are assigned to associates based on hierarchy and commission value.
Speaking from experience, you can’t be at the top of the heap and do it all yourself. We ranked #1 in the Venice Board of REALTORS® in 2011 with a staff of two. That was before the “team” concept swept the real estate industry. The reality is that we will never achieve that again simply because we will not amass a team to accomplish a high volume of transactions. We pride ourselves on personalized service.
Don’t be the ‘guinea pig’ of an eager sales associate’s entry into the industry. Yes, everyone has to start somewhere. But it doesn’t have to be with you. The fact is, an experienced professional immediately recognizes inexperience and exploits it for the benefit of their own client.
Today, southwest Florida and particularly Sarasota County’s real estate industry growth is comprised of newcomers who got a license and conduct a transaction here or there for a friend or family member. It’s the old 80/20rule, where 20 percent of the agents are generating 80% of the sales.
There is nothing wrong with getting top dollar for your home. That is, after all, what this is all about. But so is timing. Market factors can change on a dime and pricing strategy is an art.
When you look at a Comparative Market Analysis (CMA), pay careful attention to the comparable properties that are used. Do they indeed justify the recommended asking price? Did the agent view your property? If so, did the agent note upgrades, renovations, and repairs? Whenever possible, we always personally tour the property before developing a CMA.
And remember: Even if your home fetches that unbelievable asking price, when financing is involved, it has to appraise. An appraisal that doesn’t support the amount financed isn’t a setback you want to encounter weeks after your home went off the market.
Will your REALTOR® accompany the showing agent, if you want? Will your REALTOR® conduct open houses, if you want them? Will your REALTOR® be there at the property inspection when the property is under contract? Will your REALTOR® meet with the property appraiser to provide local market knowledge? Will your REALTOR® attend the closing? Will your REALTOR® be there after the closing to answer your questions and provide support after the sale? Be sure to ask, rather than assume.
The top performing (and for that matter, the most experienced) REALTORS® live on repeat and referral business. It’s not something you can buy or bottle. It’s achieved through years of hard work, diligence and commitment to clients. It’s based on local market knowledge, negotiating skills, sound pricing strategy and knowledge of the process. Repeat and referral business means expectations were not only met, but exceeded enough to deserve future business and referrals to a client’s friends and family members.
Over 80% of our business is repeat and referral, having represented some clients on as many as nine purchase and sales transactions. Ask your prospective sales associates where their business comes from. On average, we represent an equal, 50/50 mix of buyers and sellers, reaching over $12 million in residential sales each year.
If you would like a list of our references, call us. We would be pleased to put you in contact with any of the clients we had the privilege to serve. And by following these tips, you’ll find the right professional to list and sell your home.