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7 KEYS TO MOTIVATING YOUR AGENT

7 KEYS TO MOTIVATING YOUR AGENT

After selling her home in just 3 days, Anna decided to sit on her front porch and sip what may be her last iced tea at this old house. As she settled into her Adirondack chair, she watched the Realtor selling the neighbor’s house across the street orchestrate stagers, cleaners and videographer.

As Anna took her first sip, “seller’s remorse” started creeping in. “My realtor didn’t fuss that much”, she thought, “and still we sold quickly. But what if my Realtor had done some of the neat stuff the neighbor’s agent is doing? Could I have gotten more for my home? Did I sell too quickly?”

Anna, don’t stress. Even great preparation may not always yield the greatest results. Each property and agent, as well as seller combination, has its own unique blend that results in a very specific outcome.

But since most of us would rather make sure no stone was left unturned when dealing with our high-priced asset, here are 7 things as a seller you must know about your listing agent, so you can inspire them to sell your property quickly, and at the highest price possible.

Busy agent: A good agent should be busy, but they also cannot physically handle, at times, the steps you deserve … from preparing you property, to marketing and selling it. Some Realtors have been known to cut their listing commission to attract more seller business. But that has its pros ad cons. Realtors flock to larger paychecks, like bees to honey. Want the busy agent to pay more attention to your listing than one of their others’? An agent is likely to pay greater attention to your deal, if they are offered a full commission, where a higher selling price for your property can more significantly impact their paycheck. They are also more likely to invest into marketing your property if their payoff is greater in the end.

Hold your realtor to their word. When signing a listing agreement, prepare a schedule of tasks that your realtor commits and will be held accountable for at each stage, so that once the deal is done, you can feel confident that both of you have done all you planned, and thought was necessary to get you the best deal.

Teams. Is your agent working by themselves or as part of a team? Remember that your Listing agreement is not with the agent, but their Real Estate office. Will your agent be willing to tap into the great resources of personnel and advice of their brokerage, especially when your busy agent gets too busy?

Online or Get off the deal: It is no longer a myth, but a proven fact that a growing number of buyers and their agents find properties they want to buy online. An even growing number of buyers research in greater depth a property they found on MLS via search engines or websites of the listing agents. MLS is just one destination for most buyers. But even that information is limited to a few sentences and 9 photographs. Want to help potential buyers bond with your property and neighborhood? Make sure your agent is willing to make it easier for them to find all they need to make their decision. Today additional detailed photos, video and audio online tours and even live one-on-one video walk through are becoming more fashionable with travelling or out of town buyers.

Drive traffic: Traffic is not only about Open Houses anymore. It is not enough to put up a sign and an MLS listing and expect to find a buyer in this very competitive busy market. To reach the highest price, you must “Chum the waters…” Let all the big buyer fish and their agents know that your property will be coming on the market imminently and offer some key morsels of information to build interest before the property hits the market. Like a Hollywood Blockbuster, your property deserves a great trailer. In fact a photo or video presentation is one of the proven ways to attract the real buyer. And finally, you must have a great opening weekend. Like a Hollywood Hit, the first and second weekend must be huge, or the property stands the risk of ending up in discount theaters, great, but doing poorly on the bottom line.

Negotiate. If your agent is motivated to do the first 5 things in this list correctly, there is a much greater chance that you will have more than one interested party to buy your property in the right price range. Already, the risk of you having “Seller’s Remorse”, is just a faint memory. Other agents and neighbors are starting to take notes from your experience. Motivate your agent to tread carefully not to chase the big fish away. Make sure that price is not the only motivating factor, or risk turning away a great buyer over petty issues.

Close well. The ink isn’t dry yet, and your agent isn’t around anymore to make sure all the waivers have been promptly completed, that your moving plans go without a hitch and that there are no delays at the lawyer’s office. Keep contact with your agent throughout this process and make sure to point out the milestones you both marked down in your schedules, post-conditions, so that this great full-fee you agreed to pay them, is well deserved.

Anna, hope you had the best of experiences, even if your agent didn’t have to do all the things your neighbor is asking their agent to do. But for your friends and family, who may someday go through the experience of selling their home, keep these 7 motivational factors handy.

Office: P. 416.441.2888; F. 416.441.9926; 2145 Avenue Road, Toronto, Ontario M5M 4B2
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