Top 4 Listing Agent Mistakes that lose home sellers Money Team Thayer Real Estate News
Justin Lee Thayer / Eugene Oregon Listing Broker
How does hiring the wrong real estate listing agent hurt your chances to get top dollar for your home? Here's four examples current real estate listings that will likely cost the homeowners money.
Pictures of the home do not do it justice - The MLS can hold 16 pictures, and every listing should have all 16 filled up. Studies show that properties with more pictures get more views online, and it's these online views that are the precursor to gaining visits to the property by ready buyers. Furthermore, the images utilized should "sell" the features and benefits of the portion of the home shown. So often, listing agents do not seem to have an agenda with the pictures they choose to include. For example, why on earth a listing agent would include the image on the right? It happens far more often than you might expect.
Typographical errors in critical property descriptions - Listing agent sloppiness costs home sellers more money than they will ever know. Many real estate agents do not understand how technology works, and that means it likely works against them. For example, the "subdivision" field in the Tallahassee MLS is a text-based field that allows the listing agent to tell the world the name of the neighborhood where the home resides. Most fill it out correctly, but about 10% of the listing agents have more information or typographical errors than this field should contain.
Incorrect geocoding (longitude and latitude) for property mapping - One small typo in the longitude or latitude entry field means your home might not show up in the proper place on the wildly popular map based property search tools. Just last week, I saw a home that was listed for sale in Southwood not appear within the community boundaries, it showed up on the SW side of town ... oops. Just a tyop Mr. and Mrs. Seller, sorry nobody wants to see your home.
Failure to select "yes" for internet syndication - This one is a very typical oversight among real estate listing agents. They forget to "tell" the MLS to allow their listing to be broadcast to the thousands of websites that use an IDX feed to market their home. Often times, an agent or customer will say something like "hey, I can't find 1234 Main Street on your site, I know the home is for sale." More often than not, it's because the listing agent failed to select "yes" to the internet syndication option in the Tallahassee MLS. So what does this mean? Your home is not visible on the internet on the sites most likely to have a ready buyer for your home. There is also a more sinister reason that an agent might do this intentionally ... if the property is only known to be on the market by the listing agent, then that agent hopes that by hiding the home from all the buyer agents that he can "double side" the sale (meaning work with both the seller and the buyer) in order to make more money. This always comes at an expense to the seller.
Justin Lee Thayer is one of the highest performing Real Estate Listing Brokers in the Nation