Occasionally someone blurts out, “Did you show my home when it was on the market? Did you?” and before I have a chance to answer, they slam down the phone.
You might be wondering the same thing: All these agents are calling to get the listing. Why didn’t they show my home when it was on the market?
Here are four possible reasons:
1) Many people don’t realize that there are three types of real estate agents: ones who mostly list (work with sellers, marketing their homes), ones that mostly work with buyers (finding them homes) and some that do both. If an agent is primarily a listing broker (one you might want to hire since they specialize in getting your home SOLD rather than showing buyers homes other than yours), they were spending the last six months fulfilling the promise they made to their sellers to sell their homes.
2) Agent meet new buyers every day, and each has different wants and needs. Those agents might not have had the buyer for your home before today but they do now.
3) The previous listing agent didn’t do enough to bring your home to other agents’ attention—broker open houses, phone calls, flyers, etc. Consider that as of today there are 4,600+ listings on the NJ MLS and 5,000+ listings in the Hudson Gateway MLS. That’s a lot of competition for any one property; a great agent has to make your listing pop and stand apart from the competition to be noticed!
4) The home was priced unrealistically. Remember, a buyer agent’s responsibility to his or her clients is to make sure they pay a fair market value for your property. They do the same comparative market analysis for their buyers as your agent did when pricing your home. If a home is priced higher than the competition, it’s the buyer agent’s fiduciary responsibility to tell their buyer clients that home is overpriced.
So before slamming that phone down when a selling agent calls to help, consider that it might be worth a listen to what they have to say. Happy selling!