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Real Estate – Seller Beware

Street Sign the Direction Way to SOLD versus FOR SALE

If contemplating sale, now is a good time to consider your options. We are heading in to a competitive Spring Market where prep and representation can make all the difference toward achieving your goals.

As a potential seller, there are more agents to choose from than ever before. We have seen the total number of licensed agents jump approximately 15% since covid struck (1,400,000 realtors in 2019 to over 1,600,000 in 2023!). This drastic increase in agent availability has created a more difficult field for sellers to navigate. The combination of total agents available + the major decrease of inventory since interest rate hikes, has created a far more desperate agent pool. If you don’t believe me… try posting “Looking for a realtor!” in any neighborhood Facebook group, and see what happens. ๐Ÿ™‚

To compound the increase in available agents, social media has created a platform that can be incredibly misleading. Even for me it is difficult to figure out who is legitimate versus who simply “looks the part”. It is not until I speak with someone and/or see their performance through a transaction, that I realize who is informed and an asset to their client. Unfortunately, the last couple of years I have seen far more agents become client liabilities than assets.

The good news for sellers is the market is in your favor. With this advantage it is incredibly important you hire someone that is going to make the sale process seamless and ensure you receive top dollar. Hiring the wrong agent or someone not fully qualified can result in a significant loss that is difficult to recoup in other facets of life. I have recently seen seller’s (lucky for my buyer clients..!) undersell a home for $150,000+- less than what it was worth. Often times the seller does not even know this happened… they simply are unaware to the full scope of market conditions or procedural mistake(s) made by their agent. So, when looking for an agent please be sure to complete ALL diligence and educate yourself on who is the best fit to represent you and your property. Do not simply choose the most convenient option (a friend, family member; etc) or someone making more effort to look the part than truly learn the process. You deserve the best representation available.

Remember: real estate is not rocket science… but a small mistake can be incredibly costly. Seller beware!

Adam Geragosian

Adam Geragosian