In my business I meet a lot of Real Estate Agents and a lot of property owners being a real estate investor. As such, I am connected with the pulse of the real estate marketplace, especially here in Arizona. The overwhelming opinion, especially by the media, is that not much is selling and the properties that are, sell at below market price. Really? I’m not so sure about this opinion, but I do believe I understand where it is coming from, and what you as a homeowner can do about it if you are looking to sell your home.
Ever heard of the 80/20 rule? It goes something like, “Eighty percent of the people do twenty percent of the business!” My theory is that this is where the news media gets its information about the real estate market – the 80% who are only doing 20% of the business. If 4 out of 5 people are not doing that great, then what is going to get said about the business? That’s right – things aren’t going well.
But, let’s talk about the other side of the coin – the 20% who are doing 80% of the business – listing and selling homes. If you talk to the active real estate agents, which I have, you will find a much different story. This group of agents is still doing a lot business. In fact they are picking up business where it is being turned down by the other 80%. We’ll cover this in a bit.
Characteristics of a Successful Real Estate Agent
Like I said, I meet a lot of agents, and there are always a handful that standout as being the most active and the most productive. As best that I can tell the characteristics of really successful agents in any market are: They are always on their phones. They ask a lot of questions. They pay attention. They research and utilize different ways to advertise properties for sale – including the Internet, and they love listings!
Market and Prospect
I love talking to successful agents. One of my favorite things to ask them is “How is your business so good when everyone else’s business is so bad?” Almost always their response is the same: Marketing and Prospecting. It all boils down to marketing and prospecting. Marketing is being on loud speaker about property listings and being a realtor. Prospecting is about talking to everyone looking for deals, homes to list, and buyers.”
Sell At Market Value – Stick to the Game Plan
I have also noticed that these successful agents from what they tell me rarely undersell a property just to sell it. Only about half of them discount their fees to get business. If the house is priced for the market it should sell. And if an agent is doing their job, they deserve to be paid for their services and should charge accordingly. All of the successful agents that I have come across seem to believe in controlling the sales price as their read on the market is far better than the emotional view of the seller. As a result, many of their listings are still selling in 30 days or less.
Agents Who Do Not Want Listings? Ridiculous!
It is my opinion that the agents that are out there effectively marketing their properties, capturing quality leads that can turn into buyers or listings…are those agents that are still yielding success. Although hard to believe, there are many agents that either do not want listings, do not want any more listings, or prefer to call themselves Buyer’s Agents. This group of agents seems to feel that because the market is so slow that they cannot afford to effectively market homes for sale. I suspect another reason; one that might be something that isn’t easily admitted in today’s day and age. I believe that there are many agents out there who just do not know how to effectively market and sell property by harnessing the power of the Internet.
Many Options to Advertise a Home for Sale – Start with the Internet
Traditionally, there have been a huge number of economical marketing options available that can effectively expose your property to a vast array of buyers. In today’s climate, it is all the more important to market to as many prospective buyers as possible. One way to do that is to harness the power of Internet marketing. Did you know that the National Association of Realtors reports that approximately 80% of the people looking to buy a home start their search online?
Use the Internet to Find an Agent and Sell Your Home
Given that many agents are just Buyer’s Agents and do not work with or want listings yet many of the successful real estate agents are Internet savvy, doesn’t it make sense to find an agent to help you who has their listings online already? If you want to find a successful agent, or one that is utilizing economical, effective, modern and smart ways to market property, then look online.
If you get referred to your friend’s real estate agent friend, ask them if they market online and how long have they been doing it. If they limit their answer to the MLS through their office, then chances are that they are not that Internet savvy and you should keep looking. Like I said, look online for homes for sale and pick one of the agents you find online to list your home with. Your home, if you decide to work with that particular agent will be listed right along with the rest of the homes that agent has.
Use The Internet to Market and Sell Your Home
If you have made the decision to advertise your property online then you’ll want to look for a few features. are going to market online, find a website where you can post your ad, capture leads and get maximum exposure for your money. Make sure the site has an affordable Unlimited Ad Plan (since you’ll be gaining listings). Check the testimonials of the site and see if they’re all generic or if you could actually contact one of them if you wanted. Once you find your marketing venue of choice, you can hit the ground running. When you begin to gain momentum, you’ll see your number of listings will increase and your sales will follow. You will soon find yourself in the 20% category commanding 80% of the business! The business is out there, you just have to know how to get it!
A great resource to advertise your home for sale and find a real estate agent to sell your home is PropertyNut.com.
