Who’s In Charge Here?

No agent should ever promise a seller a bidding war. Nor can we promise sellers ten showings a day, or multiple offers over the asking price. As for a quick sale, sellers need to figure out if that’s actually what they want. If it’s too quick, every seller fears he has left money on the table. If it’s too slow, most sellers believe their agent is somehow at fault. But really, we agents operate within a fairly narrow band of possibilities. We control a number of aspects of the selling experience, but by no means all. Here is a seller’s guide to what it’s reasonable to expect your agent can and cannot do:

• We can help you price your property correctly, but only if you listen to us. Even the most rational sellers personalize the sales experience so it feels like a referendum on their style, their renovation choices, their choice of the home itself. But it’s not! Some apartments and houses move quickly, and some don’t. The more unusual the property, the more time it’s likely to take. And the more distant the price is from actual value, the slower the sale will be. The moment a property goes on the market it becomes not only a home but a product. That’s a hard fact for sellers to remember. Everything about it needs to be tailored, as much as possible, to the audience to whom it’s most likely to appeal. That black carpet: no. Those turquoise walls: no! That price which is 20% higher than all the comparable sales: no!!
• We can market the property. But marketing does not create a sale. It has one purpose only, which is to direct appropriate eyes to your property and generate a positive impression. The Internet presentation matters more than anything else. Maybe the property benefits from print, or mail or phone outreach to the target demographic. Marketing certainly requires the right photos, and the right copy (and a note here about copy; LESS IS MORE. The goal is NOT to give so much information that buyers decide they aren’t interested, but to provide just enough information to pique their interest.) But once the property has engaged the buyer’s initial interest, marketing’s job is done. At that point, the property’s positioning – its price, staging, and appeal – combine with your agent’s ability to create the most positive context to make a compelling presentation. Marketing creates opportunity. Your home itself, and the skills of your agent, then craft that opportunity into a deal.
• We can negotiate strategically on your behalf. A successful negotiation requires that your agent possess a number of skills: deep market knowledge, understanding the likely behavior of the buyer demographic which the property attracts, deploying your needs and areas of flexibility to create an optimal outcome. The best negotiators know when to press ahead and when to pause, when to speak and when to stay silent. All of these skills require experience, and they are all important in bringing a deal together. Since even top professionals tend to lose perspective when dealing on their own behalf, this skill offers particular value to sellers.
• We will submit a perfect Board package. No part of a good agent’s job requires more thought and skill than preparing a strong Board package. We sculpt the buyer’s financial and personal profile to address the Board of Directors’ concerns and inclinations; since each building is different, this remains the most time consuming and strategically complex thing we do.

Even the most skilled and experienced agent cannot work miracles. But when we are permitted to be real partners in the sales process, we can both maximize our sellers’ return on investment and streamline the sales process to minimize stress along the way. That’s a lot.