There is nothing wrong about being savvy and having an escape strategy for if you find that the real estate agent you listed your home with turns out to be far less than you had hoped for. The steps to take, however, are to interview first. Speak with references, and read reviews. Ask lots of questions. Trust your intuition about making your choice, and feel confident about the agent you choose.
If you are not comfortable and not sure of your choice, interview more until you find someone you believe in and you trust has your best interest at heart. There truly are many people like that; I promise you.
Once you find that right person, don't tie his arms by making the job impossible. In fact, support him by listening to his advice and following his suggestions. The right agent will put your needs first as long as he feels he will ultimately be compensated for his hard work. Many years ago, I heard a funny joke: "What are the three best things in life? Being the first-born son, being the second wife and being the third Realtor." That joke is so appropriate (particularly in a tougher selling market) because, in some cases, the first and second Realtors are fighting an uphill battle of "the overpriced listing" with a limited time on their contract and a seller who has an unrealistic price expectation. By the time Realtor No. 2 comes along, the seller gets a bit more realistic. Then, Realtor No. 3 comes onto the scene. By this time, the seller is exhausted and desperate, ready to take almost any price.
As the seller looks back on the experience, she may wish she had made better choices. She may have turned down one or more offers because it was "too low" but realize that the price she ended up with is even less, or far less. The third Realtor, who does the least amount of work, gets well paid, and the other two Realtors got nothing.
Here are my suggestions for after you find yourself a great agent:
1. Tell that agent, "I trust you. I believe in you. I'm committed to you, and I'm totally counting on you to get me top dollar for my home. I'm trusting you to advise me the way you would your dearest family member or very closest friend."
2. Get the agent to acknowledge that you and he are totally on the same page as to him putting your needs first and giving your representation absolute priority.
3. Price your property at or near your agent's suggested price, and follow your agent's suggestion regarding cleaning your home up and possibly staging it to make it look its best.
4. List your home for 180 days with an early-cancellation clause, should you have a change of plans and decide to either stay or lease your home instead of selling.
5. Get a written marketing plan from your agent that you both sign and agree to stick with. This plan should include print advertising, social media and a variety of other approaches the agent plans to promote your home to the public and the brokerage community.
6. Have a plan in place for how you wish to communicate and receive feedback. Do you prefer a phone call or text, an email or a face-to-face one on one? Agree on how often and in what way you will communicate.
In conclusion, support your agent, and let him know that it is not your intention to use his services and then go a different direction. Although things can happen, explain that you are coming from the intention of selling your home and appropriately paying him as specified in the contract.
Think smart, and remember the benefits of coming from a place of integrity and fair business practice. If your agent is worrying about a short listing contract and whether or not he will ever receive compensation for his efforts, he won't be putting your needs first. Eliminate any concern of your loyalty, and prove to him that you have faith in him by giving him a fair opportunity to complete his work, particularly when he has come recommended and has proven himself with a track record.
For more information, please call Ron Wynn at 310-963-9944, or email him at [email protected]. To find out more about Ron and read his past columns, please visit the Creators Syndicate webpage at www.creators.com.
Photo credit: geralt at Pixabay
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