Anyone up for a goo debate? This post may bring up some strong opinions, but, if you want it from my point of view, read on...
There are an increasing number of real estate agents marketing themselves as "Listing Specialists" - they focus mainly on working with sellers and marketing homes for sale instead of working with buyers. Buyer calls and inquiries on these listings are then handles by buyer agents they have working with them.
Doesn't sound like a bad pan... Don't we all want a "specialist" to represent us when we need expert assistance?
Sure we do! But when I think of a “specialist” in real estate, I imagine that person to understand the entire process of marketing, selling and closing a home sale. The way I understand it, specializing in the trading of real estate should have an extensive knowledge of the VIP on the other side of the table - the BUYER.
If a real estate agent doesn’t work with buyers on a regular basis, he may not have the expertise to accurately price homes for a market where you're trying to attract the buyers. I know a few agents who have dozens of For Sale signs in my market area, yet have never shown or previewed one of my listings. I don’t understand how they can be a neighborhood expert when they have not seen or know the competition, and more importantly, don’t have an up to the minute understanding of how buyers are thinking.
I prefer to work with both buyers and sellers, I can help a seller look at his home through the eyes of a buyer… and the buyer’s agent. I know what is currently in vogue with the local buyers. I know what will WOW a buyer as he walks in the door… what WOWed him in the last home that sold and what will immediately turn him off.
I can advise my seller client on the upgrades and improvements that truly matter in our market, even specific to his particular neighborhood. I know how important a walk-in closet is… or isn’t. I know if buyers will overlook a dated kitchen… or if they won’t. I know if buyers will balk at the lack of a garage… or if they will be tickled just to have off-street parking.
I know how much value to add for being close to a popular coffee shop… or how much to subtract for being on a bus route. I know how to price house on a busy street so that buyers will consider it… over the quiet cul-de-sac they really want.
Other things I know because I work with buyers…
I understand why a 1,200 sqft Bungalow is far more valuable than a 1,000 sqft Bungalow (aside from the difference in square footage.)
I understand why a main floor master bedroom is undesirable for many buyers.
I know that in certain neighborhoods, one-story Bungalows are selling far more quickly than larger two-story Victorians. And I know why.
The real estate market changes on a daily basis and data from the MLS tells only part of the story. What you knew about the market six months ago is irrelevant to the market conditions today. To truly be a “listing specialist,” you must also be committed to knowing the inventory… and to knowing the buyer.
And Knowing the Buyer makes me a Listing Specialist. In my own humble opinion....