A property has been on the market for a year and did not sell with Realtor “A”. The home owners feel it’s time for a change and hire Realtor “B”. The home sells one week after Realtor “B” took over the listing. In fact, Realtor “B” barely lifted a pen on the listing and sold the home. Was Realtor “B” a genius or did they just get lucky? The answer is none of the above, but rather the point of today’s column. The reason why Realtor “B” sold the home was not just because he or she was at the right place at the right time, but more importantly, they were at the right price.
Right Place, Right Time, and Right Price: 9 times of 10 is the winning combination to selling a home. Let’s be clear, I am NOT saying that all realtors are created equal and they play no role in the sale of a home. Quite the contrary, some realtors are clearly better than others, some are better marketers, some are better negotiators, some have better contacts, more experience, a certain expertise, and a highly sought after reputation. Realtors do and can make a difference, but let’s also understand that we are in a price-driven market. It’s all about price and getting a deal for today’s buyer. I see home owner after home owner using their third or fourth realtor to sell their home. I can tell you quite honestly that if you have gone through three or four realtors and your home still isn’t sold, chances are it’s not the realtor and if it is, then you are really bad at judging talent. In most cases, musical agents is not the answer and it’s more likely to be either price or the home does not show well.
Private sellers are not the only party guilty of this behavior. Banks and third party assets managers are notorious for constantly changing agents. Sometimes this is for good reasons, but in most cases it’s the old “change for change sake.”
I do agree that there are times where a fresh face, fresh ideas, and a new approach help an awful lot, but the point today for buyers and sellers is don’t be too quick to first blame the agent, fire, and hire. Look at it objectively and ask yourself if you did everything you could to sell your home including price reductions. Remember that Right Place, Right Time, and Right Price win at the end of the day.
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