One common belief among home sellers is that all Realtors do pretty much the same thing. Sometimes we even get the question, “Are all Realtors the same?” They put a sign in the yard, place it in MLS, and pray someone else sells it.
I can understand why the public is confused. They don’t see what really goes on in a real estate transaction, so how could they possibly know? Years ago, the broker made all advertising decisions. With the advent of higher splits to agents, brokers have less money to call the shots now. They can’t deliver all the benefits they used to and still pay the agents top splits.
This fact began the decline in advertising. Top splits should have gone to the highest producing agents, who would then take that money and re-invest into advertising. Unfortunately, the high splits now go to anybody who can fog a mirror.
One might assume if an agent was receiving a higher split they’d have money to advertise, and that would be wrong! The average agent sells than 1 home per year. Even if they sell a home or two they don’t have money left over to advertise.
If they did have money to advertise, they wouldn’t know what’s effective. We hear agents all the time say this doesn’t work and that doesn’t work. The truth is, it doesn’t work the way they are doing it. If you’re going to advertise, it pays to go big!
A $200 online budget will get you nowhere. A small print ad with too much info crammed in will not produce. Agents try these things and get no results, then they honestly say we tried that and it doesn’t work.
You’ve heard the term Go Big or Go Home. It’s true in advertising. The Ellis Team (230-489-4042) has always gone big. Sure, we evaluate what’s working and what’s not all the time. The point is, if you want results for your sellers, you must step up. They are placing their trust in you.
There is a reason our listings sell faster and for more money. It’s because we advertise. We take pride in the fact that sellers net more using our services than they would on their own without paying a commission. We expose their home to more people than they can, which results in higher prices and faster sales.
Agents wonder why buyers or sellers ask for part of the commission back. In other markets, there are a few companies that have started doing that. If an agent isn’t willing to go big and reinvest into marketing why not? They’re not fully exposing the home and bringing top dollar.
Personally, I don’t think an agent should give back. Agents earn it. I do think some agents are worth more than others. I think sellers should ask more questions about marketing and advertising so they better understand what they’re paying for. Most agents give standard answers like the home will be advertised online and on a hundred websites, etc.
Are All Realtors the Same?
The truth is, many agents can’t answer the question because they don’t know. When you interview an agent who understands and utilizes marketing and compare that to the agents who don’t, you begin to get an understanding what the differences are. As a consumer, you might even learn more about home marketing than a lot of agents.
Agents are only taught how to pass the real estate exam, not how to effectively sell a home. This knowledge must be obtained other ways, and it requires capital to invest in advertising. Typical agents come into this business because of the low start-up costs but they don’t have the knowledge, expertise, or money to implement a plan, so they rely on the broker. The broker isn’t much interested because they’ve given the splits to the agent to attract them to their company in hopes they turn out one day to be a high producing agent and stick with their company. Don’t let the broker’s issue become your issue. Hire a marketing pro.
If you think it’s expensive to hire a professional, wait until you hire an amateur. Always call the Ellis Team at Keller Williams 239-489-4042 or search the MLS at www.LeeCountyOnline.com
