Buyers?? The Truth About the 8%
August 5, 2016 | Richard Sites
“Bring me a buyer.”
This is the phrase listing agents most often say to other agents, typically when showing their new listing at a brokers open house.
Because once you drill down into the statistics you find that real estate sales are not done by the agent who lists the house. 92% of homes are sold by other agents, not the one that lists the house.
Often rumors start within a community that so and so “has all the buyers”. Yet time and time again when you look at the numbers only 8% of the homes are sold by the listing agent.
Last year, I had two different clients tell me that a certain agent had all the buyers for their respective communities. When we looked at the numbers we found that this was far from the truth.
Last week, I received a video email from a top agent in this area, one I have known for many years. In this video he said that you should hire his team since they spend so much money on advertising and had all the buyers.
A quick check of last year’s MLS data proved that he and his team only sold 8% of his listings.
With around 16,000 agents in this county it’s impossible to think that any one agent, or company, would have all the buyers.
So if you are interviewing agents to sell your house remember that the chances are pretty good that another agent (called the cooperating broker) is going to bring the buyer.
If you would like to have a conversation about getting your house sold quickly and smoothly, contact me directly at 561-762-4073. Remember, hope is not an effective selling solution.