The biggest misconception that homeowners have, is that their “Listing Agent” is going to sell their home. In truth, the Listing Agent usually has nothing to do with how fast the home sells, or even the price paid for the home.
In the vast majority of cases, a Buyer’s Agent is going to sell the home. Note that the Buyer’s Agent is actually called the “Selling Agent” in the Listing Agreement.
This is simple math. In any city or area there are probably close to 100 Realtors that primarily work that area selling homes. Then there a few hundred Realtors in the nearby surrounding cities, that also (occasionally) sell homes in that area. Then there are hundreds more Realtors further away that will travel to that area if they have a buyer.
Let’s use Irvine California as the city where a home is for sale. There are about 500 Realtors that have their company office in Irvine, and Irvine is their main area. In each surrounding city (Laguna Hills, Lake Forest, Laguna Woods and Tustin) you have another 100+ Realtors per city, also selling homes in Irvine. In more distant cities (Aliso Viejo, Costa Mesa, Laguna Niguel, Mission Viejo) hundreds more Realtors.
Any of these almost 1,000 Realtors could have a buyer interested in your property, so what are the odds that your Listing Agent is going to bring you a buyer for your property. Well, doing the math, maybe 1 out of a thousand, or 0.1%.
This is simple to understand. There are thousands of buyers searching for homes in most areas, and the vast majority of homes are sold by a Buyer’s Agent.
So now you have 2 extremely important facts that should change how you decide on the selection of a Listing Agent:
The value of the Listing Agent is NOT determined in any way by the amount of advertising.
Another REALTOR®, representing the buyer, is actually going to sell your home, and the Listing Agent has virtually no influence on that outcome.