How To Choose An Agent To Sell Your PGA West Home
Four of the biggest mistakes people make when choosing a Realtor to sell their PGA West home are:
- Choosing the highest initial listing price
- Choosing the lowest commission
- Hiring a friend or relative
- Choosing An Agent That Focuses Mostly On Signing Up Listings
Mistake #1: The Highest Initial Listing Price
A top-producing agent (one that likely sells 50+ homes each year) can show you comparable sales, pending sales and active sales at PGA West. They can use their experience to guide you in setting a realistic listing price, but you of course ultimately choose the sales price and then prospective buyers will then confirm if the price is right by placing an offer or not placing an offer.
If an agent you are interviewing suggests a price that seems to good to be true it likely is. This practice is called ‘buying the listing’ and it is more common at PGA West then you think. Since no agent can guarantee your final sales price, the listing agent who suggests the highest listing price is likely attempting to buy the listing now and will then urge you later to reduce the price significantly.
Look for an agent that suggests a realistic value range. Many factors will determine the range including location, uniqueness and condition of the property, inventory competition and of course recent sales at each PGA West neighborhood.
Mistake #2: Should You Select An Agent Based On Commission?
Top agents don’t discount their services. They don’t have to. A discount agent has to cut corners and services and their marketing budget for your property will be at the top of the list. If the main benefit an agent offers is a cheap service fee, why not ask yourself why? Could the agent new, desperate for business or possibly unqualified? And do you want to have a desperate agent represent you?
The difference between an agent that charges 5% and 6% is 1%. Would you come out ahead if your selling price were reduced by just 2% because you choose to work with a discount agent who did not have the resources to effectively market your home? Full-service agents will sometimes negotiate a lower commission under special circumstances. This includes buying or selling multiple properties, or you don’t have enough equity in your property.
Mistake #3: Hiring A Friend or Relative To Sell Your Home
With thousands of agents in the Palm Springs market area a lot of people have a friend or relative in the business. If your friend or family member has a proven track record of success in PGA West and they have the resources to effectively market your home that’s great. If they need the work however, hurry on down the road to someone that can effectively market your home. The days of putting up a for sale sign at PGA West, snapping a few photos and placing the home on the MLS are long gone–or at least they should be!
Mistake #4: Choosing An Agent That Focuses Primarily On Signing Up Listings
The ultimate goal for many agents is to sign and list a bunch of homes for sale and then sit back while other agents bring them buyers. The industry term for them is ‘Listing Agent.’ The best agents will be working with a large number of qualified buyer’s in a ratio of at least 50/50. This greatly expands the pool of qualified buyers for your property. Vital in today’s buyers market!
When interviewing agents find out how many buyers they brought to their listed homes in the last 12 months (not how many they sold) and how many active buyers they are currently working with. The more buyers an agent is currently working with the better for you.
Summary
By choosing an agent with a large marketing budget and ideally with their own in-house marketing team, your property will be exposed to a much wider pool of qualified buyers. Reaching a greater number of prospective buyers means a better chance of receiving a good offer and in less time. Newspapers and most print media is no longer effective in selling homes so you'll want to pay a lot of attention to the online media opportunities that each agent presents.
(1) Source: National Association of Realtors 2010 member survey
