It was the usual scenario. I got a call from some homeowners in my neighborhood who were thinking about putting their house on the market. The caller wanted to know if I would be interested in visiting with them and reviewing the market value of their home. Having sold a number of homes in the neighborhood over many years, the sellers were familiar with my listing and marketing efforts. They also knew I was "successful" in selling houses in a rather tough Atlanta real estate market.
The meeting went great. The owners had questions and I gave thorough answers. We looked at the CMA and discussed the probable market value of their home. Yes, the value was lower than they had anticipated.
Part of the problem, in addition to an absolutely suck air real estate market here in Atlanta, was the "niche" the home occupies in the market place. The potential sellers are at the "top of the top" of the price range in their neighborhood. They bought a new construction in-fill home at a time when the market was booming. Yes, they paid more than they should have. Yes, the home is substantially larger and substantially better appointed than the homes in the neighborhood. We are talking a couple hundred thousand dollars difference between the existing homes in the neighborhood and the newer infill construction.
Even though I have sold 40 homes this year and have been recognized as the market leader in the zip code, the sellers shose to list with another real estate agent.
The agent's name was familiar and the agent does have a track record. But I was curious about why the sellers chose to list with them. I did a bit of checking up and came up with this list
1. The agent does not do many sales in my geographic area.
2. The homes the agent has listed are not similar to the property in question.
3. The agent's web site has a lot of broken links. And we are not talking about minor ones here. The "my listings" button comes back with a "file not found" response. I spend a lot of time and money creating and maintaining a website that attracts a lot of buyer traffic.
4. I can not find where the listing agent advertises in online portals like Trulia and Zillow.
5. Did I mention I sell a lot more homes than the agent who got the listing.
6. The list price is a good bit higher than I suggested.
Having followed up with an email to the sellers politely asking why they chose to list with that agent, I am still waiting on a response.