We asked author Jennifer Allan-Hagedorn to answer questions based on her teaching and experience in the real estate industry. Jennifer is a regular contributor to Realty Times and other real estate publications. This week she continues her discussion from last week on "Listing to Last."
Question: "I want to be a listing specialist so I don't have to work with buyers. Any tips?"
JA: Absolutely! But you may not like what I have to say on the matter. When I think of a “specialist” in real estate, I imagine that person to understand the entire process of marketing, selling and closing a home sale. And, to my way of thinking, someone who specializes in the exchange of real estate should have an intimate understanding of the Very Important Person on the other side of the table - the BUYER.
In my never-to-be-humble-opinion, if a real estate agent doesn’t work with buyers on a regular basis, he may not have the expertise to accurately price homes for market. I know a few agents who have dozens of For Sale signs in my market area, yet have never shown or previewed one of my listings. I don’t understand how they can be a neighborhood expert when they don’t know the competition, and more importantly, don’t have an understanding of how buyers think.
When you work with buyers and sellers equally, you can help a seller look at his home through the eyes of a buyer… and the buyer’s agent. You'll know what is currently in vogue with the local buyers. You'll know what will WOW a buyer as he walks in the door…and what will immediately turn him off.
You can advise your seller client on the upgrades and improvements that truly matter in your market, even specific to his particular neighborhood. You'll know how important a walk-in closet is… or isn’t. You'll know if buyers will overlook a dated kitchen… or if they won’t. You'll know if buyers will balk at the lack of a garage… or if they will be tickled just to have off-street parking.
You'll know how much value to add for being close to a popular coffee shop… or how much to subtract for being on a bus route. You'll know how to price an asbestos-sided house so that buyers will consider it… over the vintage brick Tudor they really want.
The real estate market changes on a daily basis and data from the MLS tells only part of the story. What you knew about the market six months ago is irrelevant to the market conditions today. To truly be a “listing specialist,” you must also be committed to knowing the inventory… and to knowing the buyer.
And Knowing the Buyer makes you a Listing Specialist.
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Guest Author Jennifer Allan-Hagedorn has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm. The latest release of her book Sell with Soul is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com.