Realtor Report Card
Use DATA to sell your home for more
How can it be that every realtor you encounter says they're the best?
They can't ALL be the best.
Due to the low barrier to entry nature of the real estate agent space, the market is oversaturated with agents. Your cousin, your friend and your neighbor are all agents. The general perspective is that all agents are the same, so it's easiest to just work with someone you know. According to the National Association of Realtors (NAR), 75% of sellers go with the first agent they talk to.
However, nearly 50% of all listings expire or fail to sell. Of those that do sell, many end up selling at a discount of more than 30% than the original listing price. This helps explain why only 69% of sellers said they would definitely use the same agent again.
As in sports, performance varies greatly between the amateurs and professionals, and even at the professional level. A few of the many crucial variables include:
- Success Rate - How often does an agent succeed? Of the X properties they tried selling, how many sold and how many failed to sell? Whereas the average agent has a closing ratio as low as 50%, and some have as low as 25%, top agents have upwards of 95%.
- Sales Price / List Price - When that agent sells, what is the final sales price he/she achieved compared to the original listing price? What is the average discount? Top agents have better negotiation skills and knowledge of the market, enabling them to achieve the highest possible sales price.
- Days on Market - How long does it take that agent to sell a property as compared to the average in that neighborhood and price segment?
- Volume of Local Sales - How many properties has that agent transacted in that community? Different communities have particularities unique to them. By having experience selling there, that agent not only has a better grasp of market pricing, he/she might know what makes buyers in this community interested. This will help increase the buyer’s perceived value and therefore, price.
- Performance in Comparable Sales - It is important to analyze these factors with the segment of the market the property belongs to. For example, properties at higher price points tend to have lower success rate, higher discounts and longer days on market.
Buying and selling a home is the biggest financial transactions most people will undertake in their lives. So if the difference between agents can be tens, if not hundreds, of thousands of dollars more in one's pocket, why do sellers maintain the perspective that it does not really matter which realtor one goes with?
Data should be used to guide your important decisions. Unfortunately, the aggregation of this data is not publicly available.
Here is how we help.
Our goal is to help you understand who the best agent to sell your home is.
We use information that sellers don't have access to in order to research and analyze the track records of all the agents in your area.
We will then introduce you to the agent data shows will sell for the highest possible price and in the least amount of time. You will only be contacted by the top agent - not an army of agents bugging you saying they are the best. If you have an agent in mind you'd like to compare, we can provide you with their "realtor report card".
We are not realtors.
The service is free.
There is no commitment.
Just let us know when you would like to meet them, and we will get started researching.