Real Estate stories from Central Valley area Merced and Atwater

I’ve been revisiting this topic lately. Just yesterday I took a call from a perspective buyer who wanted information on a couple of Century 21 M&M listings in Atwater. I pulled the information and as I tend to do I generated a few extra reports to see what other homes were currently listed and what had sold recently in that same neighborhood. I called the buyer back 10 minutes later to discuss her needs. We discussed the homes she mentioned plus a few more in detail. Toward the end of the conversation she wanted to know the listing agents names and phone numbers. Not a problem I said. Before providing her with this information I wanted her to know if she wasn’t working with another agent. She replied no. I told her that I would be happy then to be on her side for this real estate transaction. She was a bit surprised and indicated that she thought she had to purchase a home from the agent that lists the home on the market.

I explained that of course that is what the listing agent wants anyone to do that calls them. However, it maybe better to have agent representation on her side, someone that is actively negotiating, listening and resolving conflicts on her behalf. A buyer’s agent in this situation is very advantageous. The listing agent works for the seller (which nowadays is primarily the banks) and even if they take on the buyer as a dual agent (representing both sides to the transaction) there job still remains to get the home sold.

Many buyers don’t full understand the process and how agents work. So how do people select agents? At the core of how I conduct business is saying that it’s not about us it’s about you and that you’re the focus. It’s just who we are and how we operate in this real estate industry. We actively listen to our clients and we don’t try to push unwanted properties, higher priced homes or take a listing that might hurt our client instead of coming up with alternative solutions to their problems. Meeting an agent or several agents and deciding who you relate to and has your best interests in mind is to me the main key in selecting your agent.

How did you select your agent? If you’re marketing your home did you select the agent based on what he or she said the home was worth? I know some agents agree to put the home on the market at a much higher price, perhaps even a price you wanted to see instead of staying true to what the home would most likely sell for in today’s market. In the end this only does a disservice to you and to the agent as the house sits and the agent gets a reputation for not pricing homes properly.

Some people do business with a close friend or relative that’s an agent. Some potential problems occur when these agents don’t listen to their needs or become problematic with returning calls, answering questions and guiding them through the process. It’s probably pretty hard to fire a friend or relative that’s representing you. There could also be a conflict of interest whereby the agent feels that they can be more relaxed or loose with the way they handle business. Many relationships have ended over real estate transactions. Perhaps an impartial agent is better suited when making one of the biggest decisions in your life.

What about going with a larger brokerage company when listing a home are there advantages there? Some people say yes due to the exposure but in a tight market such as now sometimes just pricing a home correctly and listing it on the MLS will generate enough fair share of interest. However if the home has problems the more agents it is exposed to the better as there’s a good chance an agent may have an investor or client willing to overlook and/or repair things in the home.

Drive around Merced, Atwater, Turlock and Modesto and you’ll find at least 100 different companies representing homes. Each day I come across new companies that I’ve never heard of before. It’s usually not through their marketing that they obtained the listing. It’s because of who they knew such as the owner of the house knew the agent, liked the agent and probably trusted the agent. Or perhaps it’s because they knew the asset manager of the bank or paid a subscription service fee to obtain listings

The most important thing in selecting an agent after trust is making sure that they will price the property correctly. Other important factors to consider would be the ways the agent will market your property, local vs. national exposure, contacts within the business (other agents, lending companies, friends) and the reputation of the company and agent. Sometimes the smaller companies don’t have the marketing advantages and national presence that a client receives from the larger, well known companies. Remember exposure is key and having other agents within the company and the area show your home is what will more than likely get it sold.

Sometimes it’s a slam-dunk on getting a home sold. A home priced properly and in a great location that is highly desirable usually sells within days or a few weeks. A home on the corner of a major intersection and priced evenly with the competition is often doomed. Drastic price reductions take place and unless people have a major incentive to purchase the property it’s more than likely going nowhere. Of course higher priced homes above $250,000 in the Merced/Atwater area are sometimes more difficult to sell. It’s more difficult to find buyers in the higher priced home ranges, especially at times when companies are in hiring freezes or layoff mode.

As you see there are many factors going into selling homes. Still one of the most important is selecting an agent that you know, like and trust. How you get to know people is by meeting, talking and listening to each other.

For some the decisions on who to go with for representation will come down to promises made and services rendered. For others it will come down to price alone. But for most people it’s about who they know, who they like and who they trust. When interviewing agents listen to what they say, review the comparables they present, ask many questions about how they will market the home and see if they are listening to you and guiding you through the process. Are they telling you what you want to hear or does honesty about the market and your situation win out over what you want to hear.

Finding the right agent for you that’s not an easy decision but mostly it comes down to who you know, like and trust to do the job right for you.

Let us know if you have questions, concerns or just want an ear to listen to you before you make any decision on whom to select as your agent. Helping people is #1 and as we always say you’re the focus!