Yes, You Can Increase Your Likelihood of Success When Picking a Real Estate Agent
What should a home seller or buyer do today when he wants to choose a real estate agent?
Typically, he will talk to his family and friends to see whom they know and like, or he might look at signs in front yards or lists based on sales volume in local print publications.
Or, the consumer can search social media sites to see what people are saying about an agent. The problem is that the opinions are completely subjective to the consumer who used that agent for their property in their area of town and in their price range. He can go to property search websites with sponsored agent ads but they don’t give you the full picture of the agent, despite their “amazing” 4-5 star rating.
We believe that relationships, volume, internet ratings and subjective awards should no longer be the determining factor in choosing a real estate agent. The consumer is already scared about selling or buying one of his biggest assets, and these resources really don’t give the confidence he needs. Instead, the consumer should look at an agent’s buying and selling success statistics in comparison to other agents in the area before making a decision. If he does, his confidence in the agent he chooses and success rate will increase dramatically.
We are proving that if you really want to know who the right agent is, and how you can increase your likelihood of success, then you should analyze all the transactions the prospective agent has done over the last year. If you are selling you should verify they have experience listing homes in your area of town and price range. You should also see how well they are pricing homes. For example, are they changing the price of a lot of their listings? How much less, on a percentage basis, do they sell a home for than what they originally priced the home when they put it in MLS?
Next, a review of their photos from other listings should be considered heavily. Do they look professional and staged? iPhone photos are not good enough anymore!
Finally, check their average days on market. Make sure they are consistently selling at or below the market average. Although someone with a lot of transactions will have a property or two that exceed the average, the prospective agent shouldn’t have a majority of transactions that exceed the days on market average.
If you are buying a home, look at statistics that show the prospective agent is working with a lot of clients in your desired area and price range. Also, look to see how well they are negotiating off the list price.
Taking a more scientific or data driven approach to selecting an agent has proven very successful for our clients. If you want to improve your likelihood of success then you, too, should take a serious look at this approach, with or without us doing the heavy lifting for you.
Energized Real Estate is a San Antonio real estate brokerage and advisory firm that matches you with proven successful real estate agents in San Antonio and advises you on improving your likelihood of success during your home selling and buying experience. Visit their site at energizedrealestate.com.