When buying or selling beach property, an agent’s number of listings might not tell the full story. While some agents are able to list and sell a great deal of property, there are plenty who cannot. Glenn Phillips, CEO of Beach Homes Realty, explains the nuances of engaging with agents with an extensive number of listings.
- Listings does NOT Equal Selling: Sometimes agents list a home well above the market price, and the house never moves from the listing stage. When considering an agent to work with, consider if their listings are actually selling or if they’re just sitting there.
- Using Listings for “Agent Marketing”: Certain agents may use the number of listings they have as a marketing strategy. In a hot market, however, listings tend to move quickly, so the agent might keep listings from selling to market themselves.
- “Commission Games”: It’s important to know what an agent is offering on shared cooperation agreements for their listings. Occasionally, listing agents will offer almost nothing to buyer’s agents who work with them. Those agents are trying to deter buyers until they can bring in their own buyers to earn a better commission.
- “Days on Market”: If an agent’s listings tend to stay on the market for a while, that could be a sign they are using it for agent marketing. It could also indicate a lack of negotiation ability by the agent to sell homes, especially in a hot market.
- Sale Price vs Original List Price: Looking at an agent’s sale price compared to the original listing price is a good hint about their listing strategy. Constant price cuts, or selling prices significantly lower than the listing price, could mean the agent uses listings for marketing. It may also signify their inability to negotiate for higher prices for buyers.
An agent’s number of listings might be impressive at first glance. However, it may require some deeper insight to determine if they are using listings to “play a game.” Connect with an agent at beach-homes.com who will be transparent about the listing and selling process.