As you comparison shop for a real estate agent, beware of some misleading "claims" that may be used by the agent just to get your listing. Remember,
Claim #1: "Bigger is better! If you list with my BIG Company, you will have hundreds of agents working for you, not just a few.....
FACT: Sales people are motivated by financial incentive. There is no more financial incentive for an agent to sell an "in-house" listing than to sell the listing of another real estate office. The truth is that the only person who does benefit if a property is sold in-house is the owner of the company. If the agent you are talking to claims otherwise, ask for written proof. In real estate sales, it is a proven fact that the talent and tenacity of the individual agent is more important than the company affiliation.
Claim #2: "If you are not 100% satisfied with my performance, I will release your listing to another agent."
FACT: The decision to release a listing before it expires is not usually at the discretion of the individual real estate agent. Usually, the Broker/Owner or Office Manager makes that decision. If you don't want to be locked in until your listing expires, get a written agreement giving you the right to "cancel" your listing, signed by the agent's managing authority before you sign a listing contract.
Claim #3: "I do a superior job of marketing your home."
FACT: In many real estate companies, advertising is limited in quantity and frequency by company policy. An individual agent may not be able to advertise your property outside of normal company guidelines. Look for an agent who has the complete flexibility to advertise as often and in any manner as may be needed to sell your home. Ask to see copies of recent ads placed by the agent. Be sure to note the size and quality of content. Ask if they routinely use other marketing tools in addition to display ads. A good agent will use other marketing tools like high quality Visual Tours, multi-site Internet advertising, direct mail to neighbors and home feature sheets sent to other top producing agents in the Multiple Listing Service.
Claim #4: "I can get more for your home than the other agents"
FACT: Buyers determine the price a property will bring. Over-pricing benefits no one, and it may result in lost opportunity with real buyers. By the time an agent who just used the "price-it-too-high trick" just to get your listing gets the price reduced to where it should have been in the first place, a potential buyer for your home may have already purchased another home. A good agent will prepare and present in writing a "CMA" (Computerized Market Analysis). If an agent wants to list your home at significantly more than prices quoted by the other agents you have interviewed, beware. Ask for a written CMA. Remember, even if an uninformed buyer makes an offer above the real market value, loan approval could be a problem if the property appraisal doesn't meet or exceed the agreed-on price.
Claim #5: "I sell millions of dollars worth of real estate" or "I sell lots of houses in your (area), (price range), etc."
FACT: High-sounding sales figures in real estate are often quoted as proof-of-performance by an individual agent. Beware, as impressive sounding numbers can be very misleading. Ask about the agent's recent sales in your neighborhood and price range. A good honest agent will be proud to put the facts and figures in writing and provide you with a list of their recent clients.
More about Jan's Complete Real Estate Services
More About Fort Wayne's Leading Realtor
Jan's Professional Credentials
