Is it smart to list with the number one agent in your area?
So, the time has come, your home may be too small, you may be moving cities. Whatever the reason you have decided to up sticks and are selling your most prized possession. Who do you choose to sell your property? How do you make sure that the agent you employ will achieve the best result…?
What is impotant?
In my opinion, the three most important attributes an agent selling a home must have are;
1) Enthusiasm and work ethic.
2) Experience and knowledge, nothing can substitute for time performing the task and the agent being in tune with what is working in the current market.
3) I consider this last one the most important, they must have a genuine want to serve you well as an owner and achieve you the best result.
Why promote a number one status?
Agents will often promote their #1 agent status in the hope that they can use it as leverage to obtain more business. I have even seen multiple agents in the same company purporting this claim. You may have seen variations ranging from “number one agent” to “number one real estate team”, “number one duo” or “number one individual”.
But what does a number one agent mean?
Usually a number one agent is decided by some sort of correlation with the number of properties sold in the previous year not by the actual results achieved when selling these properties. This leads to SOME agents developing a business where they just churn and burn. The risk with this is that because of the number of properties they are selling they a) have less time to devote to each property and b) they just want to try and close a sale to move on and are not necessarily focused on providing the owner with the service they deserve.
The fix with this is agents may take on newer/less successful agents who are looking for their break to pick up the slack. This is often not in the owner’s best interest. Confirm with the agent who will be meeting buyers for appointments and running open homes on your property.
How should I make my decision?
I would suggest that your decision making be focused around the results your agent has been achieving. Ask questions about things like their negotiation process. Ask what they will say when asked by purchasers “what is the owner expecting” (I can almost guarantee you that question will be asked). Also enquire about their sale data compared to medians in the area. Now i’m not tarring everyone with the same brush. To be fair if they are selling a lot of property they must have some passion for their job. All I am saying is be careful as the last thing you want is to become just another number in someone’s plans to sell X number of properties that year.