Can we assume the best choice is the discount agent with the lowest commission? The agent who wants to list at the highest price? Or are there other considerations?
Recently, I contacted three Realtors about listing a property for sale. I asked for a written CMA (Certified Market Analysis) to be provided within three days. Here’s what happened.
Both the Coldwell Banker Danforth and the Windermere agents provided their CMAs on time. Both expressed passion for the house. Both projected the same selling price. Both included ideas for marketing.
The Refin agent did not provide the CMA nor did she call or email to say why she was not delivering it as promised.
Nevertheless, I decided to give the Redfin agent another chance, so I sent an email asking. By now it was over a week late. Her assistant replied that she would be leaving on a vacation soon; therefore, I should reach out to a different real estate agency if I wanted a CMA in a timely manner. She did not suggest another real estate agent within her own company; but rather, she sent me off to a competitor.
I then contacted an agent from Berkshire Hathaway who provided a CMA within three days. His projected selling price was higher than the other two, by about $30,000. (Tax assessed value is $485,000.) He used larger, two-story and tri-level homes to arrive at the price; whereas, the subject property is a one-level ranch-style home.
Several more days pass and then, surprise — in came an email from the Redfin agent. It included no apology or explanation for being over two weeks late. There was no formal CMA, but she listed 12 houses in the neighborhood that had sold. Of these 12 homes, 11 had four to five bedrooms. My subject property has two bedrooms. She used price per square foot to project a higher selling price than the other full service real estate agencies, by $100,000! She also included an attachment that showed her company would charge a lower-than-standard commission.
Let me ask you this:
Which agency will provide me with the best service?
Which agency will list for the most realistic selling price to actually get the house sold?
This story is ongoing. As of today, the house is not yet listed. But it will be soon, so stay tuned for the outcome. (Feel free to hit the Follow Blog button, top right.)