I don’t think I have ever written about this subject before, but we had two fantastic examples in November so the timing this month is perfect.
Does it even matter what real estate agent you choose? This is a question I don’t get asked enough. Many sellers just assume it really doesn’t matter which agent you choose because even the newest agent has access to the Multiple Listing Service. Folks with this “All Agents are the same” mindset logically just shop for the agent with the lowest commission rate. Would they feel like they have done their due diligence if they knew that it could cost them over $50,000? We see so many buyers and sellers needlessly exasperated by events and mistakes that should have been handled up front and/or behind the scenes. In fact, I will tell you about a couple of examples I think you will find interesting in a minute. But to begin, let’s start by taking a look at whether the agent you choose matters from a simple dollar and cents point of view.
BY THE NUMBERS
The Scott Gaertner Group sells the most listings in the Scottsdale North area. If all “agents are the same” when you compare the average sales of our listings to the average of all the other listings the results should be pretty similar right? The chart below shows that over the last 5 years our listings have averaged $19 more per square foot more than the 85266 average, and they sold nearly 3 times as fast. That is not very similar, and if you consider that in the last 12 months results we averaged $32 per square foot more the difference is trending to matter more.
85266 Sales From 11/20/13 to 11/20/18
(*All information is provided by the Arizona Regional MLS and is deemed reliable, but not guaranteed. Data for Price Per foot and Average Days on Market is from 11/20/13-11/20/18. Scott’s sales are removed from the group average.)
The average home in 85266 is just over 3,000 square feet, so doesn’t it make sense that the average homeowner could have made over $50,000 more just by hiring a different agent? ($3,000 X $19 per foot = $57,000 )
APPLES TO APPLES
Some people don’t like statistics so, let’s try a more “Apples to Apples” comparison to show that the agent you choose really matters.
Below is a chart of 9 listings that our group took over after they had been listed with another company for at least 180 days. In each case we relisted the home at exactly the same price – or we raised the price – and the only thing that changed was the way the home was marketed. As you can see from the chart below, in each case the home sold within 30 days.
DOES MARKETING MATTER?
To me these are the perfect Apples to Apples comparisons. The same homes, listed at the same price or higher, WAY DIFFERENT RESULTS. (By the way – we do not ever solicit expired listings. These sellers all called us for help)
Still not convinced? You are a tough crowd! Ok. How about these two examples from last month that I promised you earlier:
November Marketing Matters Example 1
Last month we sold 6583 E Brilliant Sky in Terravita that had been on the market with another company for 182 days. We relisted at the same list price and sold the home for $5,000 above the list price in just 3 days.
- STILL NOT CONVINCED!? CHECK THIS ONE OUT.
November Marketing Matters Example 2
Also last month, we sold 7787 E Soaring Eagle in Winfield that had been listed 7 times, with 7 different very experienced agents for a total of 1953 days on the market.
As you might guess the homeowner was more than a little frustrated. He called us because we had just sold his neighbors home very quickly, and for more than he was asking for his home. After a quick conversation with us the homeowner had his agent release him from his current listing and take it off the market, and then he hired us to sell his home. Our team went in and made a few very important changes to the way the home was marketed – raised the price just a tad to $1.4 million – and sold the home for full price in just 10 days.
Same home listed by 7 different agents, slightly higher price, WAY DIFFERENT RESULTS.
C’mon. That should at least get a “Hmmmm…” out of even the most skeptical of you.
I hope that convinces some of you to at least consider that who you hire to sell your home matters. I think it was Red Adair that said, “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.” Scottsdale North home values have finally come back up. Don’t throw away your hard earned equity needlessly. If you are thinking of selling your home or buying another consider our tag line and give us a call. “ In Scottsdale North Real Estate, experience isn’t expensive – its priceless.”