Sellers: Who you list with does make a difference;
in this case, quite a significant difference of $77,000*
* The last '01' line to sell (77 Hudson #3001), closed on 6/30/22 for $870,000 including one parking space.
Interest rates were much lower then, compared to last month, when Unit 2901 went under contract. It was also a much healthier economy last summer.
Below are some crucial tips to consider when selecting an Agent to List your property with:
Contrary to what you may hear, the brokerage firm you list with is, in most cases, irrelevant; what matters most is the individual Agent.
1. The Agent’s Experience
As in any field, many years of experience generally results in better results. Also, the more languages an Agent(or his/her team) is fluent in makes a huge difference, especially as Jersey City is one of the most diverse cities in the country. The experience and the ability of your Agent to communicate effectively with all potential buyers is key to getting you the highest price possible.
2. The Agent’s Marketing Plan
Is it just a generic plan generated from a template provided by their brokerage? Or is it a well thought-out and researched customized marketing plan* created specifically for your property, taking into account the current market conditions?
*if the Agent you are considering is not offering to, or is not willing to accompany every showing (including showings with buyers’ agents and their clients), then you’re likely not speaking with the right Agent for this market. In today’s market, you need someone representing you at all times. This includes being present for all showings, as many buyer agents are new, or unfamiliar with the area, and thus don’t always know the specifics of a particular building or neighborhood. Having your Agent present for all showings will ensure prospective buyers get correct responses to their questions instantly, in addition to you getting accurate feedback from every showing after it occurs.
3. The Agent’s Building and/or Neighborhood Knowledge
Many agents will elaborate on charts and graphs of current market trends, recent sale comps, etc. to determine your suggested list price. These are all important factors to consider; however nothing is more important than an Agent’s knowledge of a specific area, and his/her pulse on the current market. Real Estate is likely the most hyper-localized industry, so selecting an Listing Agent who specializes in your precise neighborhood and/or building, and who has a history of sales in your price point is critical to maximizing your return on your investment.
4. The Agent’s Track Record
Nothing speaks louder or says more than the actual statistics, making an individual Agent’s track record of paramount importance in the selection process.
Specifically, look at their track record for sales in your specific building or zip code, as well as the average price point for their sales.
If interested in viewing my sales history, Zillow has them for all Agents. Mine can be viewed in the link below:
