Part 4: Is the “Neighborhood Expert” Your Best Choice?
Ever notice how many agents tout themselves as the “neighborhood expert,” plastering your mailboxes and your doorsteps with “Just Sold” postcards? It’s a common tactic, but in the final part of my ‘UNMASKED’ series, we’re asking the tough question: does selling the most homes in an area automatically make them the best agent to get you the highest price? The answer might surprise you.
The Illusion of Neighborhood Expertise
Many sellers hire the agent with the most neighborhood sales, assuming they’re the “best.” But how did they become the “expert”? Often through seller-focused marketing like ‘JUST LISTED/PENDING/SOLD’ postcards—designed to attract new listings, not more buyers for the homes of the sellers they’re promoting on them. For homeowners, real expertise isn’t measured in listings gathered, but in strategic marketing that boosts your home’s visibility and a track record of maximizing your sale price.
Asking the Right Questions: Uncovering the Truth
Uncover your agent’s priorities:
- The Marketing Plan:
- 👉Ask: “Beyond online website listings and open houses, what targeted strategies will reach likely buyers? How do you measure demand?”
- 🚨Red Flag: Vague answers, reliance on generic marketing tactics, or an inability to explain how their plan differs, or a lack of data to back up their claims.
- Home Preparation:
- 👉Ask: “What specific preparations would you recommend to highlight my home’s strengths, minimize its weaknesses, and appeal to the most likely buyer profile? Can you give examples on how you’ve addressed situations like mine?”
- 🚨Red Flag: A one-size-fits-all approach (e.g., “paint it white, clean it, and stage it”) without considering your home’s unique features and target buyer.
- Professional Photography and Videos:
- 👉Ask: “How will you leverage the media to increase buyer exposure beyond the MLS?”
- 🚨Red Flag: Inability to explain how the media was used other than in materials to market themselves.
- Open Houses – Rethinking the Value: While many agents tout high traffic open house figures, a measure of creating demand and exposure should be gauged by the number of private showings. I would take 7 private showings in a 5 day week far more seriously as an indication of demand and momentum over 100 weekend open house groups.
- Negotiation Strategy:
- 👉Ask: “Describe your negotiation style. How do you ensure you’re getting the best possible price and terms for me?”
- 🚨Red Flag: An unclear answer that focuses more on the listing process with no specific examples of successful negotiation tactics with buyer’s agents and buyers.
- Pricing Strategy:
- 👉Ask: “What is your pricing strategy, and how will you determine the optimal listing price for my home to attract the most qualified buyers while maximizing my potential profit?”
- 🚨Red Flag: Reliance on simplistic pricing methods (e.g., just looking at recent comps) without a deeper analysis of market dynamics, buyer demand and psychology, competition on the market, comparison to current trends and your home’s unique selling points.
- Communication:
- 👉Ask: “How will you keep me informed, and how do you handle disagreements?”
- 🚨Red Flag: Unresponsiveness, dismissiveness.
- Focus During Conversations:
- 👉Ask: “Tell me about your recent sales.”
- 🚨Red Flag: The agent highlights their accomplishments, not their client benefits.
- 💡Remember, an agent’s past successes are only relevant if they can demonstrate how those successes were achieved and how that experience translates to your specific situation.
Your home is your biggest asset. Don’t settle for an agent who only understands how to market their brand over your profit. See past the flashy presentations and volume claims. Demand substance: a clear, data-driven strategy proven to maximize your return. Ask the tough questions about their plan for your money. Choose the agent relentlessly focused on your bottom line, not just their next listing. It’s time to demand results.