One of many lead generating techniques taught by most real estate firms today is called farming. Farming involves an agent, brokerage or group to target a particular neighborhood based upon the agent/broker's preferences, then canvasing either through direct mail or door to door. This technique is used mostly by new and existing agents for establishing their personal brand, and has absolutely nothing to do per se with their particular knowledge of the area. Apart from driving or walking past your house which many agents can do virtually now, any agent can be an expert on your neighborhood in about 20 minutes or less.
That's right, I explained that those flyers they were receiving by the agent that showed all the pricing and sales stats for the neighborhood can be pulled up by anyone with agent or broker level access to the right real estate tools that typically begin with the local MLS, title reports and other public documents. Like I said, that's where 95% of the agents start and stop. The truly exceptional agents dig deeper and use other more elaborate, and unfortunately, more expensive tools to ensure their client's success. Some tricks that make the difference between success and failure can't be taught. That's why a good agent is always busy.
Showing you what other houses sold for in your area means nothing unless your agent can properly use the data to price your house. That's assuming your house is ready to be sold. The farming agent may get a shot at the listing, but better bring more to the table than a flyer full of public record information. Have them show you their personal spreadsheet of stats they pulled from the public sources and have then show you why they are right absd look at their track record of success. If it is taking them longer than 10 business days to get your home into escrow, then something is wrong. Assuming it is not the market itself, it is either other missing components like staging that they never prepped you for.
Sellers often complain about the commission they pay. Some even try and go it alone. According to the research, 96% of the sellers that go it alone without an agent wind up hiring an agent after failing to sell their house. I know the movies say that anyone can be a Realtor. I'm afraid that's just not the case. That's why the good ones make the money we do because the job is a little more scientific than passing out flyers and business cards. Believe it or not, there aren't many agents that know how to price a home properly or teach you how to make the right repairs or decluttering techniques.
The most important factor to consider is not how many calendars or flyers you receive from an agent, but who, number one, you feel comfortable with; then, and most importantly, choose the agent that has the best knowledge, experience and track record for achieving their client's objectives.
Looking for real estate services? If you, or a friend or relative is looking for a new home, commercial building or lease, have them give me a call at (714) 584-5509, or send me an email at frank@resusa.org. There are a variety of listed and unlisted opportunities for investors and first time home buyers alike. Let me know how I can help.
