Here are four common mistakes people make when choosing an agent to market and sell their Palm Springs area home:
- Choosing the highest suggested listing price
- Assuming that all agents provide the same level of marketing
- Hiring a friend, relative or neighbor
- Choosing an agent that focuses on signing up listings
Mistake #1: Choosing The Highest Suggested Listing Price
A top producing real estate agent can show you comparable sales, pending sales and active sales. They can use their experience to guide you in setting a realistic listing price, but you as the home owner ultimately choose the listing price and then buyers will then confirm if the price is right or not.
If a Palm Springs area agent you are interviewing suggests a price which seems to good to be true, it likely is. This practice is called ‘buying the listing’, and it is more common than you think.
Since no agent can guarantee your final sales price, the listing agent who suggests a high listing price could be attempting to buy the listing now and then try to convince you later to reduce your price. Look for an agent who suggests a realistic value range.
Mistake #2: Assuming The Same Level of Marketing & Advertising For Your Home
Not every Palm Springs area real estate agent offers equal client services or experience. According to The National Association of Realtors, the average agent invests only $1500 annually in marketing while the top 10% of agents invests just $10,000 per year.
By choosing a Palm Springs area real estate agent with a large marketing budget and ideally with their own in-house marketing team, your property will be exposed to a much wider pool of qualified buyers. Reaching a greater number of prospective buyers means a better chance of receiving a good offer in less time.
Newspapers and most print media are no longer very effective in selling homes, so you’ll want to pay a lot of attention to the online media opportunities that each agent presents.
Mistake #3: Hiring A Friend, Relative Or Neighbor To Sell Your Home
With thousands of agents in the Palm Springs area, many people have a friend, relative or a neighbor in the business. If your friend or family member has a proven track record of success (selling thirty or more homes each year) and they have the resources to effectively market your home, that’s great.
If they need the work however, hurry on down the road to someone who can effectively market your home and then negotiate on your behalf. The days of putting up a for sale sign, snapping a few photos and placing the home on the MLS are long gone–or at least they should be!
Mistake #4: Choosing An Agent That Focuses On Signing Up Listings
The ultimate goal for many top Palm Springs area real estate agents is to list a lot of homes for sale and then let other agents find them buyers. The industry term for them is ‘Listing Agent.’ The best agents will also be working with a large number of buyer’s. This greatly expands the pool of qualified buyers for your property.
When interviewing agents find out how many buyers they brought to sellers homes in the past 12 months and how many active buyers they are currently working with. The more buyers they have the better for you!