Mythbusters: “They have all the buyers”
June 21, 2016 | Richard Sites
One of the worst places to get accurate real estate information is from the neighbors while you are walking the dog. Something happened today that reminded me of this pitfall you might fall into when listing your home.
Over the weekend, 18 properties in this area closed. Of these 18, only one home was sold by the listing agent. Usually the percentage is higher than is, about 8%.
So here are a couple of stories to bust the myth that such and such an agent or company has all the buyers.
Once, I was talking to a condo owner about listing their unit. The seller’s parents also lived in the complex and were very well connected so apparently they, the parents, had the most accurate information about where the buyers were coming from. The answer was, of course, a resident realtor in the complex.
When we drilled down in the MLS, we found that this agent had only 6 listings in the last 2 years. Of these 6, just 1 sold, the others expired or where cancelled. Of course, my prospective clients where shocked to find the truth.
In another case, I had a listing in a smaller neighborhood where the word on the street was that another agent “had all the buyers”. Again, we sat down with the MLS and discovered that this agent had sold 10 homes in the community over the last 2 years but only 1 was her buyer.
The moral: If you are looking for pleasant conversation about real estate in your neighborhood, fine, take the dog for a walk and chat it up. However, if you are looking for the facts upon which to make a serious decision, find a good agent and let the numbers do the talking. The numbers never lie. BTW- Do you really care which car the buyers come in?
If you would like to have a confidential conversation about getting your home sold quickly and smoothly please contact me directly at 561-762-4073. And remember, hope is not an effective selling strategy.