Anyone who has been a listing agent for more than a minute understands that the number one priority for your clients (as well as yourself) is to get their homes sold for the most money possible in the least amount of time.
But what do they expect their agent to do to accomplish this? Many first-time sellers may have no idea, while repeat homeowners most likely have a range of experiences on which to base their expectations this time around.
For the answers, we turn to the National Association of Realtors, which asks homeowners what they want from their listing agents each year.
The number one home seller expectation for the last decade is to help the seller meet their timeframe for selling.
The second and third top “wants” are to help achieve a competitive price for the home and help market the home.
Listing agents understand that the time it takes to sell a home varies according to certain factors and that the home’s price is chief among them.
Other factors include:
- The type of market. For instance, currently, the typical home spent 51 days on market. According to Realtor.com, this is 6 days more than last year at this time.
- Condition. with inventory remaining low, the current buyer pool still shows interest in even substandard homes. In a balanced market, however, there may be a different story.
- Location. Another factor that buyers are still ready to compromise on right now is location. It won’t always be this way, as you well know.
Once you understand your client’s timeline, communication is key. Be honest about how realistic the timeline is, according to the market, the home’s condition, and the location.
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Pricing your client’s home
The one nugget of information that all homeowners wait for during a listing presentation is your suggested list price.
Many don’t know how you arrived at this figure, and some don’t care. Agents we’ve spoken with suggest that listing agents ask their clients what they’re hoping to get for the home before compiling the CMA.
This way, you’ll have time to lay out a plan to explain why your clients’ estimation is so far off the mark (if that is the case) rather than be blindsided by finding out during the presentation.
That marketing is in third place regarding seller expectations should be no surprise. In the present market, not as many homes require an in-depth marketing campaign.
If your clients’ home only requires a basic marketing campaign, let them know that and the reason why. Even if you think it’s common sense that everyone knows, communicate what you’re thinking and planning.
Communication, in fact, is key in meeting all three of these home seller expectations. That, and following through on your promises, is one of the best ways to build referrals.
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