Seller Mistakes You Can't Afford to Make

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Three Very Costly Mistakes That Sellers Make When Choosing a Listing Agent

We’ve all heard the expression “time is money” right? So why, then, is time not something that most sellers think about when hiring an agent to list their property? Just imagine, hiring the wrong agent can end up in months of frustration with lack of communication, lack of preparedness and worse, a lackluster attitude toward what is probably the most important financial transaction of your life.

To help make sure you don’t make the same mistakes that countless other sellers have made, here are three important things to consider before you sign the dotted line of a listing agreement.

Shop Carefully and Consider Your Options

All too often we see that most sellers will hire the first agent they meet and speak with about their home. That is not a problem except that many agents will unscrupulously have you sign a 6-month or worse yet, 12-month exclusive right to sell agreement with them. What does that mean? It means that regardless of who ends up selling your property (yes, even if you found your own buyer) they would benefit from the sale. But it goes beyond just the commission. If after a few negative experiences with this person you wanted to get out of the contract – you simply couldn’t. 

To sign an agreement with a broker that lasts a year or even six months is a huge mistake. These sellers end up unhappy with their agents – stuck because despite being told verbally that they would be able to get out of that contract within 30-days, they couldn’t. The reason for this is that it was more than likely not in writing – effectively trapping these people into staying with that broker despite what their wishes may be.

At Carbutti & Co. Realtors, our goal is not to trap clients into being forced to deal with us. We want you to recognize our strengths and want to work with us. Our 90-day listing agreement policy reflects that and corroborates the confidence we have in our team to deliver results that work to serve your best interests. We feel that 90 days provides a good benchmark of time to help determine whether the home is priced right, advise has been appropriately administered and whether the property has received ample exposure in the market.

Choose an Agent or Broker That is Current

What do we mean by “current”? It’s simple. Just like technology continues to evolve in all other areas of life, we have to assume that the person representing them is also current with technology. A very surprising large number of agents neglect to realize the importance of delivering on real-time needs of buyers using up-to-date tools. Rather than make the mistake of hiring an agent that is relying strictly on Open Houses (studies show less than 2% of sales are generating from Open Houses), contact someone that is using relevant technology.

Video is the single most innovative and also underutilized technology in real estate. Your agent should be using video tours as a matter of routine and unless they do so, you are working with a broker that has not yet kept up with the times. Buyers are out there using their smartphones to do home searches, utilizing their GPS systems to search neighborhood properties and expecting real time responses to information requests. That’s why it is critical to know that unless your broker is up to speed in today’s technology, they can’t keep up with the needs of today’s buyers. As a test, look up any agent in Google. Do they pop up as the first or second item on the search results page? If not, they are not positioned to be at the forefront of today’s technologically advanced real estate industry.

Look for Recognition Among Community and Peers

There is something to be said about agents and brokers that are revered not only by members of the community but also by their peers. In the many dealings that are necessary for a smooth transaction, it is critical that agents on both sides of the transaction are able to communicate effectively. When you have an agent that is difficult to get along with, does not mesh well within the community or their colleagues, you stand to face risks that directly impact the sale of your property.

Hire a broker with a name that is respected in the marketplace by both consumers and other real estate agents. When interviewing your prospective agents, be sure to ask about their dealings with others in the industry. At Carbutti & Co. Realtors, we enjoy strong relationships with the real estate community and others. Among other factors, this helps us to successfully achieve the goals of our clients.

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These are just a few of the things you can do to make sure you are in good hands when it comes to selling your home. But beyond that, it’s important to be able to look your agent in the eye and feel that you are valued – cherished and most of all heard. To give us an opportunity to listen to your needs, please contact us today. We look forward to the chance to share with you why we are the right brokerage to hire for your real estate needs!