All right, from the beginning…
You decide to sell your property and immediately (because you lack time, sufficient knowledge or you simply do not know where to start), and sometimes after an unsuccessful attempt to sell your own property, you decide to hire an agent to solve it out for you.
It might be that a friend from work/family has recommended you the office, other brokers called you regarding an offer that you have put on the web. Some brokers offered to accept their offer online (just by sending photos, information and the contract by email), some “tempted” to meet.
You meet a few or a dozen representatives, each of them tells about their unique methods, tradition and rules that are the foundation of their company. You show them all around the property, highlighting the advantages of the offer. You sit down together, signing a contract in which you agree for a bilateral representation. One by one, agents are taking photos “handheld”, and you are ending up satisfied that everyone has decided to accept the real estate offer with a price tag you have set. Morale up!
The only thing left to do should be waiting for calls coming from hired brokers who are going to bring interested customers, and from now on… Silence.
From the moment of signing the contract, no one has contacted you, one of the offices brought a client, whose trace was eventually lost because something did not suit him. Nobody gives you feedback on what is wrong. Maybe the price is too high, or perhaps the apartment should be refreshed, something might have been changed.
Months are passing by, and the property is empty. No sales.
Why is this happening?
I have worked basing on ordinary contracts – believe me, I would never return to that. Don’t understand me wrong. I do not undermine this way, thinking that the only option to cooperate
is an exclusive agreement, absolutely not. I am also not going to slander offices working this way, because I know people who do feel comfortable in this way of cooperation.
Since I had the opportunity to work in this way, I know what it is all about – STATISTICS. The method is to acquire many real estate sales offers as possible, often without visiting them,
to develop the database as extensive as possible, so that at the end the final-customer calls. When the potential buyer calls (let’s say your offer), the most important thing is to keep him
with you by showing him not only your property but also presenting an additional 5 in the area. No matter whose apartment will be sold, the most important thing is that the purchase will take place.
I know real estate agents who have up to 150 real estate sales offers at the same time. Yes, you’ve read correctly, 150 offers! They haven’t even seen half of them live. The worst thing
is that such a person does not know the basic parameters of this property – how do you remember it !? I witnessed an appointment with a potential buyer on which the agent conducting the sales did not know which apartment block to enter. A client who was from the USA, where brokerage is developed at a high level, stated it very explicitly, that it was unacceptable. Unfortunately, this type of work is often accompanied by chaos, low quality of the offer, lack of knowledge about the product. Yet, the agents still want to sign the 2% provision contract even before showing the property to the clients.
What can this lead to?
After all, fatigue and lack of results may make you decide on the first or subsequent cut of the property price. Imagine that then some of the agents that contact you will change it, while
those who do not will promote it with the old price. This will make your offer circulate on the web with different prices, descriptions – which will, in short, become over witnessed and
That scenario may last, until you may realise that you have lost more than you gained from it.
Sounds familiar? Therefore, before you start hiring a few or a dozen offices to sell your property, ask yourself a few questions:
Do I want an agent who deals with 40, 50 or more offers in a portfolio to overlook my property? And after all, offering me cooperation without even looking at my property?
Is it logical to invest my time in a few or a dozen meetings, signing the same contracts with intermediaries who do the same job – posting offers on portals?
If I am looking for the same service to be handled for you, do you go to several companies and ultimately pay no one or one of them for the work done? Who do you think will agree to
it or fully contribute to such a task?
While selling a significant part or fortune of my life, do I want to outsource it to random people?
Or maybe I want something else?
If you think about point 5, let’s arrange a casual meeting – I’ll explain more to you!