One thing (and yes there are many) that really tick me off is when a Realtor goes around boasting about how they sold a home in a day…how they sold it with multiple offers…how they sold it above list price.
There’s even the Realtors who work the “expired listing” market that boast about how they took an expired listing that was on the market a year ago for $300,000 and sold it for $300,000 recently. When I hear most of that the picture below is what I think of.
Phoenix Realtor Blair Ballin
Why? Let’s chat about each one.
Sold a home in a day, did ya? Whoopdee do! Most of the USA is in a Seller’s market right now. It doesn’t take much to sell an underpriced or correctly priced home. Get back to me with real stats that matter, not a market condition. If a home’s value is 200k, and you listed it for 225k and got 225k in 1 day, you have earned the right to boast. Until then, shut up.
Sold with multiple offers-OMG you are so incredibly awesome at selling in a seller’s market where almost everyone gets multiple offers in many price ranges.
Sold above list price is a better phrase for “we under listed the home.” Not a bad marketing tactic sometimes until it backfires.
Expired listings-There are a lot of factors that go into any sale..but if a year lapses, especially over the past year–what was 1 thing that was consistent across most real estate markets? Appreciation. So if the home was listed at 300k and was overpriced, even if the marketing was bad it probably could have had a better chance at selling but might have been worth 285ish. Over a year there is no question it would be worth 300 now. Did the agent do anything spectacular to get it sold so quickly when all that really happened was a rise in market values?
Sure. I get it. I talk about marketing all the time. And an incorrectly priced home will likely not get the same attention. But boast about what you did to actually get the results you got.
Stats like days on market, list price to sales price are all useless. Agents can now list a home on Zillow, get an offer, offer gets accepted, and then place it on MLS as pending (no days on market) and it sells as 0 days on market. Was it really on the market for 0 days? Did you know an agent can relist a home after however many days on market, have the new price show up and then say sold for 100% of list price? Was it really sold for 100% of list price?
Heck, I am not perfect. I list homes, and don’t sell each one I list. I don’t always sell it for what we list it for. This post is mostly for homeowners who are thinking about selling their home, and giving them questions to ask the Realtors they meet. To get them thinking about the process.
Most agents do the post and pray method. There is far more to putting up a post and praying a home is going to sell. When you go to hire an agent, make sure you ask questions that will help in selling your home for the terms you want. And if you are an agent, don’t feed the public some bullshit headlines that aren’t relevant.