I was reviewing the statistical data for average days on the market for properties listed by different Baton Rouge area real estate brokerages. I noticed how many real estate companies take well over 1oo days to find a buyer for their listing clients’ property. What astonished me even more was how many of these brokerages averaged 200 to 300 days or more to sell their listings! To put this into perspective; according to the report I was reviewing, the average number of days a brokerage listed property remained on market was 96 days! The average days on market for a property listed by Smart Move Real Estate is only 64 days!
I know there are multiple complex factors that will affect whether a particular house sells fast or slow; but we are talking about annual average days on the market for all of these brokerages listings, not a single property. So what could possibly be causing these disparities in numbers?
Well, I could come up with only a few possible reasons that may cause a home seller to be forced to endure the arduous and inconvenient task of selling a property for that long of a period. Here’s what I came up with:
- THE LISTING AGENT DOES NOT HAVE THE RESOURCES TO PROVIDE MASSIVE EXPOSURE TO THE PROPERTY! The fact is, around 1700 home buyers a week use our www.smartmove225.com website to search for their new Baton Rouge area home! The reason for this is twofold. First, it is the best and most reliable real estate resource available for these viewers to find available properties to purchase. It’s so good, that many agents who compete with our firm refer their clients to it to find a property to see! The second reason we have so many home-buyers visiting our website is that we spend thousands of dollars each month to aggressively advertise and market this website. The reality is that selling a property requires the listing agent to expose their clients’ property to as many of the potential home buyers as possible. If the Listing Agent can’t afford to market their clients’ property in the media sources where buyers are shopping for their home, why would anyone want to list their property with them?
- THE LISTING AGENT IS INCOMPETENT! I know this may sound harsh, but you would be surprised how many real estate agents have no clue how to “properly” list and market a property. The fact is, a listing agent should not be a “salesperson” who convinces a home seller they can get some fanciful price for their house. Properly pricing a property is absolutely essential to selling a property in a reasonable amount of time! The listing agents job is to “consult” and provide the home seller with the facts regarding the actual value and salability issues of their property. The Listing Agent should then let the seller use that factual information to make the decision to list their property. When selling a property, the facts are the facts whether the home seller wants to hear them or not! A Listing Agent who tells a home seller what they want to hear will cause the seller’s property to sit on the market for an extended period of time. Unfortunately for the seller, the price they receive for the property after all those months will likely be very near to what a good listing agent would have recommended in the first place!
- THE LISTING AGENT MAY NOT REALLY WANT YOUR HOUSE TO SELL! At this point you may ask: Could this really be possible? Doesn’t the Realtor get paid when the house sells? The answer is yes, the listing agent gets paid when they are able to find the buyer for their clients’ house. But, agents know that every yard sign they are able to place in front of a property typically allows them to generate two or more potential home buyers. If those buyers don’t want their listing clients’ property, the agent simply shows them another property. This means that the longer the yard sign remains in the listing client’s yard, the more potential buyers the agent can turn into a commission. So in reality, the agent is able to earn commissions even if they never sell the listing client’s house. Ultimately, the seller will either significantly lower the price and the house will sell quickly, or they will let the listing expire and hope to find an agent who knows what their doing! I have personally taken on a listing that had been with five different brokers for a period of over five years. I had it sold in 62 days!
So what’s was the difference? It’s simple! I know that my clients hire me to accomplish one objective…That is to get their home sold QUICKLY, FOR THE BEST PRICE, AND WITH THE LEAST AMOUNT OF HASSLE AND STRESS!
If by chance you know someone who might be experiencing the circumstances with their home sales process that I’ve addressed here; have them contact me. I will be more than happy to show them what needs to happen to get their home SOLD!
Jay Johnson is the CEO and top listing agent for Smart Move Real Estate. Smart Move Real Estate serves Baton Rouge, Denham Springs, Central, Greenwell Springs, Prairieville, Gonzales, Walker, Zachary or any of the wonderful smaller communities which make up the Greater Baton Rouge market area. Learn more or contact him by clicking here.