Potential sellers wonder often if they should list their home with a big nationally recognized franchise or a top producer real estate agent. This is their choice. Big brands may tell you that your home will be found on their big brand site that (insert impressive number) of buyers search on there every month. Truth being told, those are IDX (Internet Data Exchange) sites. No matter who you list with (small independent or big brand), as long as you agree to IDX on your listing agreement, you will end up on all big brands' sites for (insert impressive number) of buyers to search on!
When you list your home, with most agents, you will also be entering a "cooperating agreement" to cooperate and allow other brokerages to show sell your home. Odds are a listing agent is NOT going to sell your home, a cooperating (aka buyer or selling) agent is going to sell your home! Your basic strategy knowing this now, is going to be to find the agent most competent to showcase your home in the best light to net you top dollar!
Do not automatically throw out the small independent brokerage agents because you may be throwing out the baby with the bath water!
Here are some important interview elements and ALL should be included with each individual's listing packet that you interview with:
What is your negotiating experience? I have been self employed since the age of twenty. This means that I have had to negotiate half my life. I have fine tuned communication skills and I am aggressive but not nasty or mean. I do use an assistant but my assitant does not get near my contracts or negotiations.
What is my bottom line? I have an interactive net sheet which includes all closing costs uploaded into google docs for your scenario. I put in what you can realistically expect to net from the sale of your home and you can play with it any which way you would like and add or subtract closing costs, potential sale prices, etc. This way there are no surprises in the end. You receive the netsheet in the beginning and for every offer that is received, as each scenario is different.
What are trends with homes selling in my city and subdivision? I will show you absorption trends (inventory trends) for your city all the way down to your subdivision. It includes something called "absorption rate" (which will show inventory trends if inventory is rising or shrinking.) This should be used also in conjunction with pricing.
What should I list my home for? I provide a comprehensive CMA (Comparative Market Analysis) should be included during that interview. I go over this along with the home sales trends. If you interview SEVERAL agents do not give the job directly to the highest bidder, spend several days looking at all the numbers and go with the price that make the most sense. I have performed over 1000 BPOs since 2007. BPOs are "Broker Price Opinions" and help banks determine list pricing. I pride myself with this experience to get the home "priced right the first time". I will also never take a listing that is priced too high because I know it will NOT sell and I have just wasted my time!
What is your marketing plan? A marketing plan is an outline on what a Realtor does and what exposure you receive for listing your home with them. If they say they list it on social networks such as Active Rain, Twitter or Facebook - ask how many friends or followers they have for that exposure! Here is a snapshot of my marketing plan:
- Active Rain Network: Over 730 subscribers that are real estate professionals around the country, syndicated to well over 50 syndication sources which includes blogburst - I have had listings published through Reuters and the Sun-Times Network through blogburst!
- Twitter: Over 500 Followers
- Facebook: Almost 1300 Friends
- Real Estate Shows: This not only provides a platform for a virtual tour but it is also search engine friendly and syndicates to: google base, oodle, trulia, zillow, vast, hotpads, geebo and dothomes. I also take a couple extra minutes to upload your virtual slideshow to youtube & craigslist through this resource.
- Vflyer: I have a paid subscription with Vflyer (many agents use the free area). This gives me a great widget that I use on my website (scroll to the bottom of every page), my blog (look on the sidebar) and facebook that showcases my listings for all visitors at those sites. Vflyer also syndicates to: yahoo, hotpads, trulia, zillow, kijiji, backpage and front door. Again, I take a couple of extra minutes to add your listing to craigslist.
- Point2Agent: Another portal for listing syndication! This one has over 30 syndication sources plus a search engine for buyers!
- BNI: I am a member of Business Network International and your listing will get a full minute of exposure and in front of business owners who may have a client that may be interested in purchasing your home!
- The "Typical": Of course you get "the typical" stuff that goes with every listing: MLS input (with IDX syndicating to Realtor dot com, big brand websites, all IDX websites that are a member of Greater Las Vegas Association of Realtors,) Sign, Color Flyers.
- AND MORE: Yes there is more but this post is getting out of control already ;)
What do you charge? My fees depend on what price point the home is listed for + a cooperating commission. You may be surprised how relatively inexpensive it is to list a home with all those goodies described above - especially if the home is over $150K!
What is Your Experience? I have closed listing experience in the probate/estate, REO (bank owned), standard/fair market sale, HAFA for veterans, divorce. I do not work short sales HOWEVER you may still contact me for a referral to a competent short sale agent.
Google & Internet: Print is OUT and Viral & Social Internet Marketing is IN and it WORKS! I give your home exposure on major social networking sites. It is important to google the following three elements when you are interviewing an agent:
- Name (Renee Burrows)
- Phone numbers (702-966-2494)
- Email addresses (411@ReneeBurrows.com)
This can help buy you a clue to see who “gets” the new wave of viral & social web marketing and who doesn’t!
Please feel free to contact me with any questions at 702-966-2494 or 411@ReneeBurrows.com if you are thinking about listing your Las Vegas, Henderson or North Las Vegas Area Home for Sale.