Every industry has its idiosyncrasies and Real Estate is no exception.
One of the most significant of these is the 80/20 rule and it is the single most important reason you will want to list your home with today’s market leader.
20% of the Agents get 80% of the listings and 80% of the real estate agents get 20% of the listings. As the listing agent we get paid regardless of who sells it. Over 90% of the time the listing agent (if they are any good) will have the buyer also.
When you list with Barfoot and Thompson you are not only hiring the Real Estate agent that you have invited into your lounge room, you are also hiring a network of over 1700 real estate agents who have the ability to show your property. This creates unparalleled buyer competition which ultimately delivers a better result for your home.
Around one in three homes sold in Auckland, are sold by Barfoot & Thompson.
We also have the greatest foot traffic through all of our open homes. We maybe marketing 15 homes in your price range and specifications. If the potential purchasers needs are not met at the other open homes the agent will certainly talk about your property as being another option. Your home is being marketed by the strongest marketing tool…word of mouth! Small agencies with limited listings cannot match this foot traffic as they simply do not have the potential purchasers to be able to send to other listings as they simply do not have them.
As real estate agents we work on commission only and keeping in mind the 80/20 rule, if as a salesperson you have limited listings, you are going to be actively working potential purchasers and showing them other salespeople’s listings. Again, as the vendor you benefit.
I believe in today’s market simply due to our internal systems, we are achieving greater results for our vendors than what could be achieved by smaller agencies. This is an opinion as it would be difficult to quantify, however through our internal competition, you as a vendor benefit, and this results in a greater return for you.
If you would like to discuss further and would like me to pop over, please give me a call.