TOP 10 REASONS TO BECOME A LISTING AGENT
It is no secret – working with sellers is much more productive than working with buyers.
Remember the old saying, “In order to last you have to list.”
Here are the top 10 reasons:
- Leverage: Can you work with three buyers in one day? Very unlikely, but can you have three, five, ten, fifteen, or even twenty listings? Definitely.
- Free marketing: How much would you pay for 5 billboards with your name and contact information in your community? I bet it would cost a lot of money. When you have a listing, you don’t pay any more than the cost of installing the “for sale sign.”
- More Leads: The simple fact of having your name on the listings, the MLS, the for sale signs, and any other marketing provides you with more FREE buyers and sellers leads.
- Time: On average, you work 32 hours with a buyer and 8 hours with a seller. With sellers, you control your time better, set up the appointments, showings, inspections, etc.…
- Buyers agents are doing the work for you. Not only can you work with multiple sellers at the same time and organize your time better, but you also have the buyer’s agent doing most of the work for you. The buyers find the clients, show the property, writes the offer and much more. Beautiful, isn’t it? 😀
- Client Motivation:
Buyers are not highly motivated. Why? If you can’t find them a property they like, at the right price in the right place they have three options:
- Stay where they are.
- Find a place to rent (usually cheaper than buying for the short term).
- Stay in a hotel if they are out of town buyers looking for a second home.
Sellers, on the other hand, are usually highly motivated for a variety of reasons:
- They need to move because they need a bigger place, a result of getting married, having children, taking care of their parents, etc.
- They need to downsize because their kids are going to college, they are getting divorced, etc…
- Need to move to another area or state for work reasons and can’t afford to have two homes or qualify for another mortgage.
- Presence in the Market: If you are a buyer’s agent and close 12 properties in a year who in the neighborhood knows? Usually not many people. But as a listing agent, if you close 12 sales, most people in the neighborhood will find out because of your marketing, for sale signs, open houses, etc. By working as a listing agent you are letting your community, including potential and existing clients, know you are working, and constantly reminding them you can help them sell their house whenever they are ready.
- Control inventory: As a buyer’s agent you are at the mercy of the buyer, they can work with you for a long time and suddenly find a property with another agent. However, once the seller signs the listing agreement, they are bound to work with you until the property sells or they cancel the agreement.
- Easier work: You save time, work from your office, and don’t have to spend entire days driving clients around the city.
- Less Emotional: Working with buyers can be an emotional rollercoaster, today they want to buy, tomorrow they don’t, buyers appear and disappear. However, once you get a listing it is yours! You can promote it, do open houses, and the maintenance of your client is considerably lower.
Remember: Don’t forget about your buyers, they will eventually become your sellers. But, start building your listing business today – the sooner you start the faster and longer you will see great results.
Related articles and resources:
- The Top 10 Tips to become a Listing Agent Interview with Orlando Montiel
- Score yourself, find out your strengths and weaknesses as a real estate agent by doing the RealEstateAgentScoreCard
- Listen The Miami Real Estate Show Podcast Here