The importance of your relationship with your agent should never be underestimated – they can make or break a successful buying or selling experience.
You want to have confidence they’re on your team and invested in making the best deal possible on your behalf.
An experienced, quality agent will help protect you from a few of the trends that we’re seeing right now – owners pulling their homes off the market, and an increasing number of discounts.
According to the National Association of Realtors, 26% of all deals in June came after the seller offered a discount.
Competition is challenging for sellers. Zillow has just reported a five-year high in homes for sales. It’s up 17.2% year-over-year, and at its highest peak of 1.36 million since November 2019.
Inevitably, agents are feeling the brunt of seller frustration.
It’s never 100% certain, but you can avoid most agent-related issues by undertaking a diligent selection process. You should seek personal recommendations, as well as attend walkthroughs or showings to see how an agent performs.
Establishing a rapport is probably the most important element in your partnership with an agent, and it has to be based on open and honest communication.
You need to be confident in their opinion and their diligence, or the relationship will get shredded at the first sign of a challenge.
Your focus on selecting the right agent is critical. And, you need to own the relationship, just as the agent does.
This is the minimum you should expect:
Two-way communication – You should receive at least a weekly call from your agent. They should offer unvarnished feedback from any showings. You want to know how the price is being received and buyers’ perceived value of the property. If there hasn’t been a showing, then quiz them on the local market. “What’s going on, and how can you tap into that activity?” “Does the price still reflect fair market value?” Your agent should answer these questions and many more.
No emails or texts – For the very reason a weekly call is essential, one-way communication is insufficient. Sadly, poor agents hide behind emails and texts because they want to avoid the tough call. That’s not the person you want on your team. Remember – open and honest communication underpins a trusted relationship. Hiding from reality doesn’t make the situation any less real.
Unfiltered feedback – A good agent won’t gloss over what buyers are saying. If you hear that the price is too high often enough, you should take note. An agent who ducks that issue, often because they recommended the price, is doing you a disservice.
Marketing update – Unprompted, a great agent will offer all the initiatives they’re taking to sell your home. You shouldn’t have to chase them for online views from Zillow, or how your marketing compares with other neighborhood properties. If you hear yourself asking, “What are you doing to market my home?” you’ve probably got a problem.
If you’d like assistance with your property needs, please do not hesitate to contact me.