Looking Out From the Garage

All real estate agents are the same... really?

Continuing on my series of common misconceptions of, about and regarding real estate and the real estate industry, let's talk about real estate agents...

I hear this one a LOT. 

It is a common misconception that all real estate agents are effectively the same.  And it couldn't be further from the truth.  Let's start with some very basic differences:

  • Residential specialists
    • Sales specialists
    • Lease specialists
  • Commercial specialists
    • Sales
    • Lease
  • Land specialists
  • Farm specialists

You get the idea, there are a lot of ways to break that up... and then there are agents that defy the different classifications and specialties.  But then, just in residential real estate sales, there are agents that specialize in:

  • Buyers
  • Listings/Sellers
  • New Developments/Builder Services

But there is something more...

There are full-time, part-time and "just looking for a bonus" agents.  And even more importantly, there are agents that toss their listings in the MLS and then forget about them until the phone rings. And there are agents that do everything in their power to make their listings sell!

I have been spending a lot of time lately talking with sellers whose listings have expired.  And as I get ready to talk to someone, I look for the property they are selling.  I try to see how much marketing has been done.  And I find something all too much... the property doesn't really exist on the internet.  It doesn't have a website.  The listing isn't tweaked on Realtor.com.  It hasn't been fully leveraged on Zillow or Trulia.  Often, it isn't even listed on Craigslist.

Maybe the agent made a flyer to put outside of the house... possibly even a newspaper ad.  But... in 2009, that is NOT marketing a property.  And that is what agents are supposed to do... market the property efficiently and effectively.

The reasons that agents don't fully market a property, as well as what fully marketing a property is all about are subjects for other posts... but think involved website, wide net cast for online leads, search engine marketing... you get the idea.  84% of buyers are starting their search on the internet.  Let the weak agents fight over the 16% (and shrinking) that aren't.

I am an agent that isn't the same.  Feel free to give me a call.  I only take selected listings, because it is actual work to get them ready for market, and to work towards getting them sold.  Your property can be one of those that sells.

 

from LilburnDwellings.com

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Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

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2 comments • Lane Bailey - REALTOR & Car Guy • January 14 2009 02:55PM

Keep the Mystery alive... or not

Many agents and sellers think that one of the ways to create interest is to give the listing an "air of mystery" by tightly controlling how much info they release... thinking less is better.

Let me tell you... that isn't a good idea, unless there is a VERY small group of inventory.  Like "potential buyer able to see everything" kind of group.  Perhaps if you have a log home on Lake Lanier... there might only be a couple, but then comes the other variable... NONE of the others can be stunners.

So, there are almost no circumstances where playing the "keeping it a mystery" game works to the advantage of sellers.

Let's look at the real situation.  Here in Lilburn there are 406 properties.  In every price category over $500k, there are 19 listings.  But... there are surrounding communities, too.  So, there are still plenty of homes competing for buyers.  So, that lays out the question:

Why would they look at your (unknown) home when there are 24 that look interesting in the pictures?

The simple fact is that they won't.

And furthermore...

The same holds true with a myriad of other things.  I have seen agents withhold flyers in order to "create a need to call about the property."  And virtual tours... and websites... and pricing... and information.  I have sat through the "gurus" that say that we should never answer questions.  When a buyer calls and says "Is it a 3 bedroom house?"  We should reply "Do you want 3 bedrooms?"  As a customer, when I ask a question, I want an answer...

What it comes down to is that consumers want, expect, deserve and know where to find information.  So... withholding that information only pushes that consumer to another outlet.

But what about ugly houses?

This is the tough one... and there is more room for debate, but personally, I think that the rule still applies.  Again, put yourself in the shoes of the buyer.  A buyer that sees real pictures of an ugly house and still comes to see it is cool with ugly houses... or it reasonably meets their expectations.  Failing to show the reality only yields two results:

  • Buyers that are disappointed when they see the house
  • Buyers that just don't come to see it because they think it is uglier than it really is

I have been in a few houses that were truly terrible, too.  And I've had really upset buyers.  I've also had buyers that were looking for those fixer-uppers.

from LilburnDwellings.com

Find YOUR Dream HomeWhat's YOUR Home Worth?How's the Market?

Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

I'd love to hear from you...

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7 comments • Lane Bailey - REALTOR & Car Guy • January 14 2009 12:37AM