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In another post about using one realtor over another, it was suggested that I look for the agents' listings, check for the quality of photos, description, days on market, sold v. list price, etc. However, when I go to the agents' websites, it seems like a million listings come up -- I don't know if it's all the ones for their agency or what. I can't really tell who the listing agent is. Anyway, just wondering how I can do this. Thanks!
In another post about using one realtor over another, it was suggested that I look for the agents' listings, check for the quality of photos, description, days on market, sold v. list price, etc. However, when I go to the agents' websites, it seems like a million listings come up -- I don't know if it's all the ones for their agency or what. I can't really tell who the listing agent is. Anyway, just wondering how I can do this. Thanks!
When you see all those listings, you probably are on their IDX site, which pulls all listings on the MLS.
The agent can email you all their listings.
Be aware, you are looking for some pretty meaningless metrics to consider.
Days On Market and Sold vs. List Price are two of the most over-promoted and manipulated numbers, to the extent of being meaningless.
In another post about using one realtor over another, it was suggested that I look for the agents' listings, check for the quality of photos, description, days on market, sold v. list price, etc. However, when I go to the agents' websites, it seems like a million listings come up -- I don't know if it's all the ones for their agency or what. I can't really tell who the listing agent is. Anyway, just wondering how I can do this. Thanks!
As Brandon pointed out, the easiest way to find that information is the agent search tool on Zillow. I feel it's more accurate in searching for seller's agent side than buyer's agent side due to the fact that it's going to show an agent's listings for sale based on MLS info that's been feed into the site but on the buyer's side it's mostly self-reported by one of the agents involved in the transaction and not everyone uses Zillow for "bragging" rights or to drum up business.
Here's a breakdown of why I feel these things are important considerations when selling:
1. quality of photos = They don't have to be high gloss magazine quality photos, but they should definitely not be fuzzy or have you questioning why someone allowed a photo like that to be published when trying to show a home in its best light.
2. description = Do you feel like the description is well-written and features highlights of the home and any upgrades that may sway a person to consider your house over another? Or do you feel like the agent just keeps using the same generic language over and over as if they just copied/pasted between one listing to another? (As an aside, we had an agent that did this and we eventually parted ways with her. I wish I had done by due diligence in selecting an agent as a bad one can cost you thousands of dollars that you didn't need to spend by choosing wisely from the start.) Also make sure that if you have done any updates to the home in recent years (appliances, water heater, A/C) that that information gets included in the listing description otherwise they will never know and the buyer's agent will probably not ask your agent because they assume that information like that would have been included in the listing.
3. days on market = Every agent on here will tell you about how if your house isn't selling, it's most likely the price. Days on market will definitely be longer in cases of unique properties like horse farms or that crazy "50 shades"/S&M house that people were talking about on here. But if you live in a normal area where all the houses are generally the same and not in some remote location, days on market is a reflection of your agent's ability in many cases to make sure you're setting the correct price from the get-go. Example = 3 months is better than a year on the market. But also keep in mind that the whole area just might not be selling for one reason or another so take that into consideration as well.
4. sold v. list price = Reference #3 above about initial pricing being very important. We let the agent referenced in #2 set our list price $10k higher than what we thought was fairly priced based on comps. I will regret that mistake for a lifetime. Had I checked her DOM and list vs. sale prices, I could have seen that her listings languished and that continuous price drops did little to nothing to help sell a house because many people lose interest in an overpriced house right away and find something else. And then there's the fact that many sites allow you to exclude listings over 30 days old so by that point you've automatically lost any potential buyers that only (sadly) consider "fresh" listings. Example = $5-10k is reasonable whereas multiple price cuts over the course of a year where you're now $50-100k under asking means they were probably selling you a bill of goods, just trying to get your listing at a higher price than perhaps another agent suggested you list for.
So that's why I personally feel those things are important and not just totally "meaningless metrics" as Mike suggests, though definitely do not view them as a be-all, end-all by any means as there are plenty of seller's agents out there who are undervaluing their client's properties just to get a quick sale so they can have low DOM and/or high volume sales. But definitely beware of agents with a number of listings that have languished for several months to a year on the market before finally selling for $50k+ under original asking due to significant overpricing from the beginning whereas if you look at agents like Mike and Brandon they sell within a reasonable amount of time for very close to list. Bottom line = take account all 4 items into your decision-making.
As Brandon pointed out, the easiest way to find that information is the agent search tool on Zillow. I feel it's more accurate in searching for seller's agent side than buyer's agent side due to the fact that it's going to show an agent's listings for sale based on MLS info that's been feed into the site but on the buyer's side it's mostly self-reported by one of the agents involved in the transaction and not everyone uses Zillow for "bragging" rights or to drum up business.
Here's a breakdown of why I feel these things are important considerations when selling:
1. quality of photos = They don't have to be high gloss magazine quality photos, but they should definitely not be fuzzy or have you questioning why someone allowed a photo like that to be published when trying to show a home in its best light.
2. description = Do you feel like the description is well-written and features highlights of the home and any upgrades that may sway a person to consider your house over another? Or do you feel like the agent just keeps using the same generic language over and over as if they just copied/pasted between one listing to another? (As an aside, we had an agent that did this and we eventually parted ways with her. I wish I had done by due diligence in selecting an agent as a bad one can cost you thousands of dollars that you didn't need to spend by choosing wisely from the start.) Also make sure that if you have done any updates to the home in recent years (appliances, water heater, A/C) that that information gets included in the listing description otherwise they will never know and the buyer's agent will probably not ask your agent because they assume that information like that would have been included in the listing.
3. days on market = Every agent on here will tell you about how if your house isn't selling, it's most likely the price. Days on market will definitely be longer in cases of unique properties like horse farms or that crazy "50 shades"/S&M house that people were talking about on here. But if you live in a normal area where all the houses are generally the same and not in some remote location, days on market is a reflection of your agent's ability in many cases to make sure you're setting the correct price from the get-go. Example = 3 months is better than a year on the market. But also keep in mind that the whole area just might not be selling for one reason or another so take that into consideration as well.
4. sold v. list price = Reference #3 above about initial pricing being very important. We let the agent referenced in #2 set our list price $10k higher than what we thought was fairly priced based on comps. I will regret that mistake for a lifetime. Had I checked her DOM and list vs. sale prices, I could have seen that her listings languished and that continuous price drops did little to nothing to help sell a house because many people lose interest in an overpriced house right away and find something else. And then there's the fact that many sites allow you to exclude listings over 30 days old so by that point you've automatically lost any potential buyers that only (sadly) consider "fresh" listings. Example = $5-10k is reasonable whereas multiple price cuts over the course of a year where you're now $50-100k under asking means they were probably selling you a bill of goods, just trying to get your listing at a higher price than perhaps another agent suggested you list for.
So that's why I personally feel those things are important and not just totally "meaningless metrics" as Mike suggests, though definitely do not view them as a be-all, end-all by any means as there are plenty of seller's agents out there who are undervaluing their client's properties just to get a quick sale so they can have low DOM and/or high volume sales. But definitely beware of agents with a number of listings that have languished for several months to a year on the market before finally selling for $50k+ under original asking due to significant overpricing from the beginning whereas if you look at agents like Mike and Brandon they sell within a reasonable amount of time for very close to list. Bottom line = take account all 4 items into your decision-making.
If meaningless manipulated metrics are of value to you, fine.
But, they shouldn't be recommended to others based on anectdotal stories, because, like Zillow appraisals, they mislead.
Every listing has a story.
I listed a house for $255,000. Sold for $251,000.
Not too awful bad?
It took 195 DOM.
Not too good?
In my estimation, it was one of the best jobs I have done as a fiduciary in real estate.
The seller was completely financially strapped, refused to consider a short sale in any way, and had no money to bring to closing. He could squeeze out a payment monthly, but that is all.
$251,000 was as low as he could go, and I only got that clarified a few months into the listing.
He needed help, and I hung in. For the folks who rely on metrics that I could manipulate, I may not look great.
The comps were low. In 195 days, we saw a few closings that floated the market up to fit his needs.
Sold.
But, people want to focus on DOM in a hot neighborhood, where stuff was flying off the market. I don't track averages of DOM.
I listed a house at $150,000.
Sold in 4 days.
Not too bad?
We got $130,000.
Not too good?
Seller loves me. The house was close to a teardown, and she had told her daughter she would take $10,000 for it.
But, people like to look at SP/LP. I don't track it, and can only tell stories.
Yeah, I have a few stories about more upscale stuff. I like those two, though.
I list and sell property with deeds, and the houses aren't all Pottery Barn and surgically immaculate.
If the sellers aren't playing games, I work hard for them. If they are gamesters, we probably never hit it off in the first place.
That's OK. There is someone for everyone.
And, I get to watch manipulations of data to promote agent interest over consumer interests, via influencing consumers with meaningless metrics.
Again, someone for everyone.
I'm not suggesting that a person look at each and every listing and run it through a spreadsheet to literally compare one agent's DOM or list-to-sale prices, I'm suggesting that people be cautious about who they hire to sell their home and not just go with the agent who talks a big game in order to get listings and instead look at the big picture. And you're right in that the seller's situation definitely factors into play. I would assume that the stories you mentioned were outliers and not the norm for you because your numbers look very good as I mentioned in my earlier post. I think the problem is that you appear to be a very good agent (same with Brandon, Diana, etc.) and have been doing this for a while whereas a lot of agents out there are not quite up to par.
I'm not suggesting that a person look at each and every listing and run it through a spreadsheet to literally compare one agent's DOM or list-to-sale prices, I'm suggesting that people be cautious about who they hire to sell their home and not just go with the agent who talks a big game in order to get listings and instead look at the big picture. And you're right in that the seller's situation definitely factors into play. I would assume that the stories you mentioned were outliers and not the norm for you because your numbers look very good as I mentioned in my earlier post. I think the problem is that you appear to be a very good agent (same with Brandon, Diana, etc.) and have been doing this for a while whereas a lot of agents out there are not quite up to par.
I don't think my numbers are fabulous.
But, I think that anyone who disqualified me due to my numbers would be in error.
Then there is the lady who was building a new house.
We set a fat price, figuring maybe we get lucky while the house was being built.
We didn't. We set the price to market, and sold quickly.
So, on that one, I have long DOM and a sale significantly lower than original list price.
And, a happy client.
I focus on that latter.
As Mike has stated, Zillow can't tell the whole story on each and every listing, but it does a decent job of compiling data. Interpretation is the key. Look at the description - is it will written with proper grammar. How are the photos? How many photos? How many listings and sales?
Of those, sales history is the most likely to be off. Take that with a grain of salt. Many agents don't bother to claim sales.
OK, I'm off to Zillow to see if I can find the two agents' listings. I know what you mean about lazy agents that use the same wording over and over - we have one right in our community. He gets a lot of listings because of the fact he lives here. But if I see this ONE MORE TIME: You simply will not find a comparable unit on the market in much sought-after (name of community).
I also think he takes advantage of sellers who depend on him to advise them on a price. There was an old guy here who used this agent when he was moving into an assisted-living. I knew comp units were going for say $107, $110, but the guy listed it in the low 90s. He's trusting the agent! Well, fancy that, it sold before it even hit the MLS. I thought the whole thing was shady.
... There was an old guy here who used this agent when he was moving into an assisted-living. I knew comp units were going for say $107, $110, but the guy listed it in the low 90s. He's trusting the agent! Well, fancy that, it sold before it even hit the MLS. I thought the whole thing was shady.
There certainly are agents out there that are like that, but you can't draw a conclusion off that one pricing strategy. He may have short sold the elderly client, but it also could have been a scenario where it was intentional after discussing strategy they went that way to ensure a quick sale and to generate multiple offers hoping it got ran up to fair market value.
That just ties into what Mike is saying that sometimes we don't know the whole story.
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