How Can Every Agent Be #1 In The Market?
This is a common question from those entering the real estate market and interviewing real estate agents. Every agent seems to believe they are #1 in the market. How is this possible and how do you figure out who is the right fit for listing your property for sale?
Agent Interviews Will Include Lots of Facts and Figures
Whenever you interview a real estate agent, the interview will include plenty of facts and figures getting floated around. The competition is also very tight with so many agents competing for listings in our market right now.
The facts and figures agents float around during the interview may make them or their office appear to be #1. However, it's important for you to understand what these facts and figures really mean and what they are looking at to determine their #1 status.
Production Difference Within the Top 100 Agents
Most buyers and sellers have no clue how much production difference there is within the top 15 or 20 agents compared to the top 80 to 100 agents in the market. There's a vast difference within the range of the top 80 to 100 agents compared to those ranking 1 through 20, yet all of those agents are found in the top 100.
Imagine this with a market that has several thousand agents. The difference between the top 1% and the top 3% can be huge.
How can Everybody be #1?
You have to know the numbers you're looking at. If you slice and dice the numbers in enough different ways, it can make everybody look like they are #1 at something. This makes it vital for you as a buyer or seller to know what you're looking at.
Are you looking at market numbers or neighborhoods numbers? Are the numbers for the current year or for last year? Are the numbers from the past 25 years?
Once you know the numbers you're looking at, you need to decide how important the numbers are and why they are important to you.
What's the Agent Going to Do For You?
While you can make your agent decision purely off the numbers, it's important to understand what the agent will be doing for you. Remember, the numbers only represent what the agent has done previously. Past activity isn't always the best indicator of future results.
You really need to find out from the agent you are interviewing what the marketing plan will be and how they will get your property more exposure. Finding out what the agent plans to do going forward is more important than previous sales.