Your agent won’t sell your home<\/h4>\n\n\n\n![\"listing](\"https:\/\/i0.wp.com\/www.nar.realtor\/sites\/default\/files\/images\/charts-and-graphs\/field-guides\/fg-to-quick-re-stats-v2.jpg?resize=150%2C413&ssl=1\")
<\/a>Agent secrets (infographic from nar.realtor)<\/figcaption><\/figure><\/div>\n\n\n\nYour home will likely sell to a home buyer who is represented by a buyer agent. This notion is supported the 2016 National Association of REALTORS\u00ae Profile of Home Buyers and Sellers <\/a>(nar.realtor), which reported that 88 percent of home buyers used an agent to buy a home.\u00a0 The remaining 12 percent of home buyers purchased through other means, including with the help of the listing agent, or even a FSBO.\u00a0 Although your listing agent may claim to have sold the most homes in the neighborhood, the truth may actually be that they are only facilitators.\u00a0 The listing agent secret is that the buyer agent who actually \u201csells\u201d the home is labelled the \u201cselling agent\u201d by the industry.<\/p>\n\n\n\nBuyers are not finding homes in print<\/h4>\n\n\n\n
Print advertising no longer is the means of selling a home. More information from the 2016 National Association of REALTORS\u00ae Profile of Home Buyers and Sellers <\/a>indicate that having a nice spread in a magazine, or posting open houses in the local paper is probably a sales ploy to get your listing.\u00a0 The Profile reported that home buyers reported how they found their home as follows (nar.realtor):<\/p>\n\n\n\n- Internet: 51% <\/em><\/li>
- Real estate agent: 34% <\/em><\/li>
- Yard sign\/open house sign: 8% <\/em><\/li>
- Friend, relative or neighbor: 4% <\/em><\/li>
- Home builder or their agent: 2% <\/em><\/li>
- Directly from sellers\/Knew the sellers: 1% <\/em><\/li>
- Print newspaper advertisement: 1% <\/em><\/li><\/ul>\n\n\n\n
Bigger is not better<\/h4>\n\n\n\n
Another one of your listing agent secrets is that the larger your agent\u2019s brokerage or team, and having a high number of homes actively listed may actually be detrimental to your home sale!<\/strong>\u00a0 An empirical study by Shiawee X. Yang and Abdullah Yava\u015f (Bigger is Not Better: Brokerage and Time on the Market; The Journal of Real Estate Research<\/em>; 1995, Vol. 10, No. 1, pp. 23-33) reported the following results:<\/p>\n\n\n\n- The amount of agent\u2019s commission is not indicative of your home\u2019s time on market; <\/em><\/li>
- The size of the listing firm does not affect your home\u2019s time on market; <\/em><\/li>
- Homes listed and sold by the same firm (i.e., dual agency) does not reduce time on market; <\/em><\/li>
- The more active listings your agent has, the longer your home may sit on the market because they do not devote to the time to your sale.<\/em><\/li><\/ol>\n\n\n\n
Yang and Yava\u015f suggest that the larger the listing firm, the more incentive to \u201ccheat\u201d days on market by circulating new listings within the firm before entering it in the MLS, which also increases the chances of a dual agency situation. \u201cPrivate placement,\u201d or pocket listings <\/a>can have similar dual agency results.<\/p>\n\n\n\nDual agency could cost you<\/h4>\n\n\n\n
One of the biggest listing agent secrets is dual agency. Chances are that your listing agent doesn\u2019t totally understand dual agency, and therefor may not be able to explain how it affects your sale and potentially your sale price. The Maryland Real Estate Commission\u2019s \u201cUnderstanding Whom Real Estate Agents Represent<\/a>\u201d disclosure states:<\/p>\n\n\n\n\u201cThe possibility of dual agency arises when the buyer’s agent and the seller\u2019s agent both work for the same real estate company\u2026The real estate broker or the broker\u2019s designee, is called the “dual agent.” Dual agents do not act exclusively in the interests of either the seller or buyer, and therefore cannot give undivided loyalty to either party. There may be a conflict of interest because the interests of the seller and buyer may be different or adverse<\/strong>.<\/em>\u201d<\/p><\/blockquote>\n\n\n\nOne of the listing agent secrets is that dual agency may not be beneficial to you<\/strong>, and can even lower your home sale price.\u00a0 There are a number of empirical studies that indicate conflicts of interest and other issues that arise out of dual agency.\u00a0 But a study by Joachim Zietz and Bobby Newsome (Agency Representation and the Sale Price of Houses; Journal of Real Estate Research<\/em>; 2002, Vol 24, No 2 pp. 165-91) found that a home\u2019s sale price drops about 3.7 percent when the listing and buyer agents are from the same firm.\u00a0 They stated:<\/p>\n\n\n\n\u201c\u2026<\/strong><\/em>the fact that buyers may obtain a lower price by engaging a buyer\u2019s agent from the same \ufb01rm as the listing agent raises the issue of whether or not the listing \ufb01rm is shortchanging the seller. The evidence appears to suggest that the agency relationship between seller and listing agent may be compromised.<\/strong><\/em>\u201d<\/p><\/blockquote>\n\n\n\nBy Dan Krell
Copyright \u00a9 2017<\/p>\n\n\n\n
Original published at https:\/\/dankrell.com\/blog\/2017\/04\/06\/listing-agent-secrets\/<\/p>\n\n\n\n
If you like this post, do not copy; instead please:
link to the article<\/a>,
like it at facebook<\/a>
or re-tweet<\/a>.<\/p>\n\n\n\n![\"Protected](\"https:\/\/i0.wp.com\/banners.copyscape.com\/images\/cs-bk-3d-234x16.gif?resize=234%2C16\")
<\/a><\/figure>\n\n\n\n
<\/a>Your home will likely sell to a home buyer who is represented by a buyer agent. This notion is supported the 2016 National Association of REALTORS\u00ae Profile of Home Buyers and Sellers <\/a>(nar.realtor), which reported that 88 percent of home buyers used an agent to buy a home.\u00a0 The remaining 12 percent of home buyers purchased through other means, including with the help of the listing agent, or even a FSBO.\u00a0 Although your listing agent may claim to have sold the most homes in the neighborhood, the truth may actually be that they are only facilitators.\u00a0 The listing agent secret is that the buyer agent who actually \u201csells\u201d the home is labelled the \u201cselling agent\u201d by the industry.<\/p>\n\n\n\n Print advertising no longer is the means of selling a home. More information from the 2016 National Association of REALTORS\u00ae Profile of Home Buyers and Sellers <\/a>indicate that having a nice spread in a magazine, or posting open houses in the local paper is probably a sales ploy to get your listing.\u00a0 The Profile reported that home buyers reported how they found their home as follows (nar.realtor):<\/p>\n\n\n\n Another one of your listing agent secrets is that the larger your agent\u2019s brokerage or team, and having a high number of homes actively listed may actually be detrimental to your home sale!<\/strong>\u00a0 An empirical study by Shiawee X. Yang and Abdullah Yava\u015f (Bigger is Not Better: Brokerage and Time on the Market; The Journal of Real Estate Research<\/em>; 1995, Vol. 10, No. 1, pp. 23-33) reported the following results:<\/p>\n\n\n\n Yang and Yava\u015f suggest that the larger the listing firm, the more incentive to \u201ccheat\u201d days on market by circulating new listings within the firm before entering it in the MLS, which also increases the chances of a dual agency situation. \u201cPrivate placement,\u201d or pocket listings <\/a>can have similar dual agency results.<\/p>\n\n\n\n One of the biggest listing agent secrets is dual agency. Chances are that your listing agent doesn\u2019t totally understand dual agency, and therefor may not be able to explain how it affects your sale and potentially your sale price. The Maryland Real Estate Commission\u2019s \u201cUnderstanding Whom Real Estate Agents Represent<\/a>\u201d disclosure states:<\/p>\n\n\n\n \u201cThe possibility of dual agency arises when the buyer’s agent and the seller\u2019s agent both work for the same real estate company\u2026The real estate broker or the broker\u2019s designee, is called the “dual agent.” Dual agents do not act exclusively in the interests of either the seller or buyer, and therefore cannot give undivided loyalty to either party. There may be a conflict of interest because the interests of the seller and buyer may be different or adverse<\/strong>.<\/em>\u201d<\/p><\/blockquote>\n\n\n\n One of the listing agent secrets is that dual agency may not be beneficial to you<\/strong>, and can even lower your home sale price.\u00a0 There are a number of empirical studies that indicate conflicts of interest and other issues that arise out of dual agency.\u00a0 But a study by Joachim Zietz and Bobby Newsome (Agency Representation and the Sale Price of Houses; Journal of Real Estate Research<\/em>; 2002, Vol 24, No 2 pp. 165-91) found that a home\u2019s sale price drops about 3.7 percent when the listing and buyer agents are from the same firm.\u00a0 They stated:<\/p>\n\n\n\n \u201c\u2026<\/strong><\/em>the fact that buyers may obtain a lower price by engaging a buyer\u2019s agent from the same \ufb01rm as the listing agent raises the issue of whether or not the listing \ufb01rm is shortchanging the seller. The evidence appears to suggest that the agency relationship between seller and listing agent may be compromised.<\/strong><\/em>\u201d<\/p><\/blockquote>\n\n\n\n By Dan Krell Original published at https:\/\/dankrell.com\/blog\/2017\/04\/06\/listing-agent-secrets\/<\/p>\n\n\n\n If you like this post, do not copy; instead please:Buyers are not finding homes in print<\/h4>\n\n\n\n
Bigger is not better<\/h4>\n\n\n\n
Dual agency could cost you<\/h4>\n\n\n\n
Copyright \u00a9 2017<\/p>\n\n\n\n
link to the article<\/a>,
like it at facebook<\/a>
or re-tweet<\/a>.<\/p>\n\n\n\n<\/a><\/figure>\n\n\n\n