Well, it’s crash course time and I’m about to get primed and ready for the license exam. Let’s hope it goes well. But, while I’ve got you here, there’s something I’ve read a little about, talked about, and now I’m asking for your opinion.
Do you List to Exist or Do Buyers Keep You Busy?
There’s a few different angles on this debate and to be honest, I see both sides. The good thing about being new in this wacky world of real estate is that by being new, I haven’t been conditioned to think a certain way. I’m open to different ideas and I love seeing you guys and gals explain yours. I’m leaning one way in this buyers vs sellers debate, but here’s what I think up to this point.
Old School Mentality
First of all, I think the “list to exist” mentality is old school. Now that’s not to say “old school” is bad because it’s not. I simply mean it’s been around for a long time. So why has it lasted all this time? Well, the easy answer is that it works. Secondly, as people, we get stuck in traditions. It’s what we were taught, it’s what we’ve done, and it’s worked so we don’t change. Now, let’s look at why having listings were so important.
Although it may seem crazy to some of us, we haven’t always had cell phones, computers in our pocket, or tweets to stay in touch. Go even further back to before the brick-sized cell phones and beepers on your belt. How did real estate agents market themselves? After a talk with some bright people in the business, I think they marketed themselves by referrals and listings! Yes, having listings meant having your sign in yards which was indeed, a form of marketing. It still is today. The difference is that now we have other options and the weight of your marketing world doesn’t rely on your yard sign. It’s probably weighted significantly less now.
Another reason people seem to prefer listings is that they simply want to market their listings rather than drive around and spend lots of time with buyers who may be new to the area and require lots of attention. Perhaps it’s easier to let them come to you? Maybe listings are your forte and you’re simply good at getting them sold? You tell me, why are listings so important?
Buyers Be Where?
I think it’s no surprise that these days, buyers are on the internet. With 90% of homebuyers searching their home online, your web presence is easily your most important marketing tool. Granted, that goes for business in general. So, if buyers find me and keep me busy, do listings become a little less important?
Here’s something I don’t quite understand. When it comes time for closing, the buyer’s agent and the seller’s agent split the commission, correct? So, why does it matter which side I’m on? In business, being busy is a great thing and if the buyers are keeping me busy, isn’t that a good thing? The money is the same right?
The other side to this story is preference. It’s not all about the money, although it seems equal. I happen to love my city and really enjoy telling newcomers what there is to do, where to see a movie, where to take the family, and various other little keys to the city. Would it be against my better judgement if I would rather show buyers around than list multiple properties?
Give Your Take
I’ve presented you with a few of my ideas concerning working with buyer’s vs working with sellers. As long as we can handle the workload, we want to do both right? But, what is your forte? What are some points I’m missing on this matter? As I begin my career, which side of this fence do I need to focus my attention? Consider commenting to make your case.
