You may be wondering, "I need to sell my house but how is this pandemic affecting my chances of getting my house sold." Well you are not alone. We all know things have changed around the world and as with any change; it is survival of the fittest. The real estate market is no different. Gone are the days where all you need to do is put up a sign in the yard and enter it on the Multiple Listing Service (MLS). Some slow changers are also posting on Facebook. WELL, there is more to selling your home than just that.
Realtors/Agents/Brokerages
Today as owners you have to change the way you find a realtor. As a matter of fact this goes for brokerages as well. Due to the changes in the US and Local State regulations an independent brokerage and real estate agent may not be your best choice. Regulations have changed and I personally believe for the better. Today's Realtor must keep up with these changes and top brokerages have the resources to keep abreast of the changes and informed their Realtors. Independents might not have these resources.
Another consideration is your personal need for selling. Whether you are selling to upgrade/downsize, job transfer, financial burden or life changes, you need a Realtor and Brokerage that can service your needs completely. For example, if you are selling due to a job transfer that is taking you out of state, then you need a firm that has brokerages in both states. This sounds like common sense but many people forget this and their experience becomes a royal pain.
NOW THINGS HAVE CHANGED.
Now lets discuss what I think is a critical change that has occurred in our industry. but to better explain this point I have to share how life was before. Before the market change, real estate agents did not have to do much to sell a house. For the past 10 years it has been relatively easy to sell a home. So easy in fact that part-timers, side giggers, summer-money agents were all the norm. Our industry also makes it simple for anyone to become an agent. So you can be serving drinks one month and handling someones family fortune the next. I personally don't think it should be this way, but it is. That's for another blog. So for the past 10 years the housing market has been on the rise. People with little to no sales experience sold houses. Compensation was good, and truly, life as a Realtor was great.
Today it is no longer easy to sell a home. You must know the macro market, micro markets, lending, valuation techniques, pricing strategy, traditional marketing, modern marketing, negotiations, sales, support services, legal and current regulations, process automation, technology and accounting. Some seasoned professionals with hundreds of sales in their portfolio are suffering tremendously because of this. They are losing the war and based on their needs are riding out their wave to retirement, while others are leaving for more comfortable jobs. I come across many agents that need help in today's environment. They feel overwhelmed with the technology needed to succeed. So what does this all mean to you the seller.
WHAT DOES THIS ALL MEAN
Simple, don't go by just past results, ask what is their marketing plan for your house? What is the price strategy? How did they arrived at that strategy? What is the micro climate of the market for your house? What resources do they have to service your particular needs? What kind of training do they receive and how often? Ask them what book has been the most influential to their career? Do they know business and what was their experience in business? Have they negotiated sales of similar price? These are a small number of the questions you should ask. I will add; when they say " We will market your listing on Facebook", bells should ring. The reason, most people don't know how to market on Facebook. Ask them a follow up question on how they would do this ? If they say we will post your house there, say "OK", and know that they do not know how to market on Facebook. POSTING IS NOT MARKETING! You deserve more.
HOW TO SELL, TODAY
So what does it require to sell in today's environment. The answer is simple, you need a forward thinking educated professional that has experience in business, marketing, sales and is technology fluent. An individual who knows and understands the complete sphere of service required to support your needs. A person you can trust and has shown success in sales or at the very least has a team that has the success. There are many weak, well intentioned agents out there, however there are a few that understand what I am writing about and it is these that you should seek out. Don't fall for gimmicky sites or badges, or labels. Research, ask the right questions and if you can out negotiate them move on.
Let me know what you think. I am a student of learning and would love to hear your thoughts.
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