The business of listing homes is a curious one. If we were going about this business of finding a broker and an agent, we’d assume we’d look at our options objectively, hoping to secure the best agent to represent our property. But this isn’t what happens, because real estate isn’t really about results, it’s about friendships and loyalties even when those friendships and loyalties hurt the chance of a sale. I can’t list with this guy because he’s the best, I have to list with this guy because he’s also my son’s baseball coach and my cousin. Objectivity is for more serious matters, not for real estate, or so it seems.
Every homeowner who is considering a sale knows how to go about searching for the agent that will represent the subject property. It’s typically a mix of internet searching, newspaper perusing, and lastly, checking the refrigerator, assuming it’s not stainless, to see who sent the most recent football calendar. Then, once the list is compiled, it’s time to interview these assorted agents. Some are from large offices, some small offices, some work out of Starbucks, mostly. Some are successful some are sweet, some are your son’s baseball coach who is also your cousin but we know he’s a second cousin, so that’s something to take into consideration.
Once the interviews occur, some agents are smug, some smell, others show up too early or too late. But there’s one agent who showed up on time and had a nice little suit on, and he spoke politely and he drove a car that didn’t have his name tattooed on the passenger and driver side doors. His name was Frank, and he seemed to be a good agent. His firm has some signs around the area, so you know he must be competent. Frank has a nice folder and some really cool brochures with incredible pie charts, also graphs. He has a separate folder, bound with rings, titled “HOW TO SELL YOUR HOUSE”. His picture is on the bottom left of the cover. He’s the one.
He hasn’t necessarily sold a lot of homes in your neighborhood, nor has he sold all that many outside of your neighborhood. But he returns your calls very quickly and he says yes ma’am and no ma’am and that’s enough. He’s hired and the sign goes up, Frank is the man. Your man. The best man, because he wasn’t smug and he wasn’t rude and he wasn’t really upset that your price was super high. He’s a good man, Frank. Things are looking up.
As a homeowner, you’ve done your homework. You vetted his company, you met him in person. You asked him questions. You determined he wasn’t a derelict. You’ve read his blog, “101 THINGS TO DO BEFORE YOUR FIRST OPEN HOUSE”. Frank, for all of these clues, seems to be a fine choice. But there’s one thing in choosing a listing agent that you haven’t yet considered. In fact, no one considers it, yet it’s the single most important factor in choosing representation. Do the other agents think your agent is going to sell your house?
Strange that this would be the question that matters most, right? Not really. It’s not something people talk about, and it’s not written on park benches. But the most important thing in choosing an agent is determining if your agent has credibility amongst the other agents in the market. Note I didn’t say that you agent had to be adored by the other agents, because that’s not it at all. Of course your agent shouldn’t be perceived as one who is difficult to work with, even there are plenty of agents like that. But this is about whether or not other agents think your agent is an effective agent.
The reason this matters is in terms of how quickly other agents will motivate their buyers to see your house. How quickly will they write an offer? When the listing agent tells the buying agent that there are other interested parties, is your agent one who can be trusted? Not by you, remember, but by the other agents. This is the most important aspect of choosing a listing agent. Hire the agent who the other agents worry about. Hire the one they know to be effective and clean. Does the market perceive your agent as an agent who is supremely capable of selling your home quickly? If so, hire that guy, or gal. If not, don’t hire the guy you know because he’s your kids soccer coach. He might not even be your real cousin.