Comox Valley real estate is a team effort. Over the years I have heard a number of comments about the effectiveness (or not) of real estate agents. As a Comox Valley real estate agent, I continue to hear these types of comments made of others. Based on personal experience over 18 moves I can vividly recall one who was outstanding, three that were horrible, and a number that were somewhere in between and forgettable. But what made the effective ones effective and the ones that were not, not?
Before diving into explore this question, let me make one point up front. The real estate process involves an agent and a client. This agent – client relationship involves at least two people (more if there is more than one client involved in the transaction) and it takes effort by both parties to foster an effective relationship and to ultimately realize success.
Clearly, the Comox Valley realtor must do much of the work in the relationship but the agent’s efforts are not always enough for success. Following are some examples of why this is the case.
First, consider someone who wants to add their home to the online listing library of Courtenay homes Hopefully this person interviewed several different real estate agents before making a decision on hiring one as their agent. While all real estate agents must meet minimum standards to become and stay licensed, minimum is a key word. Not all real estate agents are alike nor do all possess the same capabilities. Let’s say the seller in this example did this and subsequently decided to hire one based on how each agent presented themselves and what they presented to the seller in terms of a strategy and plan to sell the seller’s home.
During a listing presentation to a potential Comox Valley home seller, the real estate agent may have provided the seller with advice in a number of areas. One area that is always topical is the suggested list (or asking) price of the home. As a seller, are you open to this advice? Are you inclined to accept this advice if the real estate agent has thoroughly and competently made their case on why the suggested price is being recommended? If the answer to either question is no, what do you know that the agent does not? Have you shared this information with them? Have you discussed the differences in price? How this point of contention is addressed by both parties is important because it may affect the relationship as it develops during the real estate selling process.
All relationships are built on trust and trust must be earned. A Comox Valley real estate agent cannot do their jobs effectively if they are not given accurate and complete information. Similarly, a real estate agent should be telling clients what they need to hear and not merely what they think the client wants to hear. Unfortunately this is not always the case. Some agents will take a listing at a price that the client wants to believe will sell even though it is way above market value just to get the listing. When a price is recommended, an expectation is generally created. The recommended price should be as close to market as possible or deviations taken with the seller’s full knowledge of the potential consequences.
From the seller’s perspective, most sellers want to obtain the best price they can for their home – understandably so. From the agent’s perspective, most agents should want to have a reasonable opportunity to sell the home because of the time, effort and money they will spend on marketing the home. If the list price is way above the market, the home may not get any viewings, let alone any offers. If the list price is too low, the seller may not realize the best price that they can in a specific market. There are, of course, many different factors that come into play when establishing a pricing strategy and a list price. Your agent should present these to you as a seller before you agree to a specific price.
After establishing a list price and agreeing to the terms and conditions in the listing contract for a best homes by the ocean, the Comox Valley estate agent should have provided the home seller with information and other advice concerning the marketing of the home. For example, the agent may have given advice on preparation and presentation. As a seller, are you open to such advice? Are you inclined to follow such advice if you are given a good reason for it? Do you understand the ramifications of not following such advice? Were the reasons explained to you? Did they make sense? Under some circumstances, sellers risk greatly minimizing the chances of selling their home when they are given advice related to the effective overall marketing of their home if they choose to ignore it.
Second, consider a Comox Valley home buyer. When a home buyer first meets with a real estate agent, the real estate agent may ask a number of questions. As a real estate buyer will you answer the questions to the best of your ability or will you selectively do so? If you choose not to provide information to the agent will you let them know and why?
Real estate agents have both legal and moral obligations to protect the interests of their clients. If a buyer is not truthful or is incomplete with respect to the information that they provide the real estate agent they are working with, how reasonable is it to expect that the agent will be able to provide the best possible advice to the client? This does not mean that all things should be divulged to an agent. For example, when I negotiate for a client I do not want to know their top or bottom line because I do not want that to adversely affect the advice that I give on price. By not knowing I believe that I can give far more objective advice to my client.
Clearly, it is impossible to do more than scratch the surface on a topic such as this. The main takeaway is that agents and clients must work together during the real estate process. Through many years of life and professional experience, I have learned that much more can be accomplished by teams of people working together than by individuals working apart. If you are looking to buy or sell Comox Valley real estate, contact Brett Cairns of RE/MAX Ocean Pacific Realty to discuss how he can help you with your real estate needs.