In this article we will be discussing the key factors that a great listing real estate agent, and/or realtor, should have.
The function of selling a home successfully is defined as obtaining a price point for the home that it can theoretically achieve based on a probability distribution. This probability distribution is nothing more than the values that are possible for the home, which is dictated by the following:
home’s current condition, the current market, and the agents ability to market the property. A great real estate agent will focus on what they are able to control, namely the marketing they put together for the home, as well as the pre-listing guidance they give their home seller client such as inspections and document collection. These agents may also have knowledge of competitively priced contractors and handyman who are able to fix, repair, inspect, and bring your home up to any shape you desire, but this all still applies if you wish to sell as is.
Although the current market conditions are out of the homeowner and the listing agent’s control, historical data can be referenced to suggest the most opportune time to sell, aka the seasonal seller’s market. That option should be presented if the home seller has the ability to wait, but often times people need to sell their homes relatively quickly and timing the market is not an option. Therefore, a great real estate agent will list options for the first two determinants of value and focus their efforts and strategy on the third determinant of value: marketing.
To obtain the highest value for your home requires the highest number of eyes, which implies that outstanding photography is a must. Your home must be captured by someone with vision, someone who understands what buyers wish to see, and what drives them emotionally to purchase – what you love about the Home should be emphasized, and it’s unique features embellished. Additionally, to keep potential buyers attention, A well written description about the home and a virtual tour must also be utilized.
- Great real estate agents know how to capture the imagination in vacant homes using home staging, whether virtual, or in person.
- Great real estate agents understand the local demographic and market appropriately.
Unfortunately there are many triggers of discrimination, and so great real estate agents can implement marketing that does not discriminate, but still speaks to the correct demographics, such as photos of nearby parks and schools.
Great real estate agents extend their Network among peers, colleagues and social media, such that when they list a property everyone knows and therefore any buyers who weren’t aware may see it.
A great real estate agent understands the investment in their listing as such, and does not skimp on the marketing in any way. And a great real estate agent knows this will lead to referrals and higher volume, which in turn allows them to maintain a competitive commission rate (check here for a Lightning Lister Partner Agent in your area).
Still, it must be said that even after every strategy is employed to try and obtain the highest theoretical value for the home at it’s for sale condition and based on the market, things do not always work out and therefore homes may sit on the market or not even sell – but what is 100% certain is that a great real estate agent will display all of these qualities and use all of these tactics every time; if a real estate agent does not, they are potentially missing out on obtaining a higher value for their listing, and not treating their clients with the appropriate fiduciary responsibility they deserve.