The Real Estate Encyclopedia
Do You Possess the Art of Selling Homes?
Category - Real Estate Information Sources - Real Estate Articles

The American Dream

At least once during their lifetime, most Americans will have the opportunity to sell a home. The question is, will that sales experience be a positive or negative one? The answer to that question depends largely – in fact, almost exclusively – on the agent each home-seller selects to help them achieve this goal.

“Agency” is merely a codeword for the authority and commitment a seller gives to an agent to entrust them to provide expert counsel and make various decisions on his or her behalf when it comes to the sale of a home. Just as an attorney represents a defendant or a plaintiff in court, just as a CPA represents you in their dealings with the IRS, so an agent is paid a certain sum of money by a homeowner to sell their home for the most advantageous market price, in the most ideal time frame.


The Back Story

Real estate agency, or representation, isn’t only meant for sellers, however. In fact, until very recently the concept of seller agency had taken a back seat to a mid-1990’s fascination with buyer agency. Agents sharpened their buyer representation skills in force, as the focus in real estate swung heavily toward the buyer. In 1996, the National Association of Realtors(r) (NAR) legitimized the buyer agency focus by acquiring the ABR designation and has subsequently grown to become the most widely awarded designation in the real estate industry.

But the truth remains that buyers and sellers are perpetually intertwined, and to focus on only one of the two aspects of the business invariably results in an imbalanced perspective, which can prove more harmful than helpful. Thus, as it is wont to do, the pendulum is beginning to swing back toward seller agency, as agents seek to insure that they are fully prepared to handle both sides of the transaction with commensurate prowess and skill – becoming the perfectly balanced dual agent who maximizes the monetary potential of every transaction.


Process Improvement

While one challenge lies in gaining a seller’s trust so that they will engage your services to achieve the sale of their home; it’s an entirely different challenge to see that process through to completion smoothly, and to retain that client’s business and receive referrals from them for the next 15 or 20 years.

Seller agency is a process, like any other, but part of the expertise development necessary to improve an agent’s skill level in this area is to first define the steps and skills involved in a typical seller agency scenario.

  • An Agent’s Marketing Campaign Creates an Interested Seller
  • Agent Conducts Initial Counseling Session with Seller
  • Agent and Seller Reach a Financial Agreement to Collaborate
  • Agent Markets Property to the Public
  • Agent Finds a Serious Buyer and Presents an Offer to the Seller
  • Negotiations Ensue, and a Sale Price is Agreed Upon
  • The Property is Sold and the Agent Receives Compensation
  • The Agent Continues a Rapport with the Seller
  • Depending on the Level of Service, the Agent May or May Not Refer the Agent to Family and Friends
  • When the Time Comes, the Seller May or May Not Choose to Use the Same Agent Again

That last bullet point is the crucial “make-or-break” stage of the entire process. The best agents that we feature at iSucceed usually receive 80% or more of their business from repeat and referral clients. Why? They’ve developed an excellent standard of customer service, a strong reputation for honesty and expertise, and most of all, they are incredibly adept and fostering and growing strong, lasting relationships with their clientele.


Tools for the Seller’s Agent

In an effort to help our members refine and further expand their real estate practices, we’ve assembled a brief list of pertinent educational calls, modules, and marketing tools that you can use to enhance your seller agency proficiency.

Counseling Calls

Success Modules

Checklists

Flyers

Interview Questionnaires

Expired Letters





References


External Links
www.isucceed.com
 
 
Category(s)
Real Estate Information Sources - Real Estate Articles
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