by Stuart Neal
on Saturday, January 2nd, 2021 at 11:22am.
Myth 1 – All You Need is the MLS System
Do you know what the MLS System is?
Back in the day, it started out as simply a cooperative arrangement between local real estate agents to share listings and buyers with each other. Over time, it morphed into a database that all local real estate agents could use to access listing details and match them to buyers. What a perfect system you might be thinking. Surly all I need to do is to find a way to access this system and my house will sell.
Not so fast. Let’s look at conversion rate of listings to sales here in Edmonton
In 2020, 23,551 Edmonton listings were placed on the MLS® System. In 2020 11,714 sold. That’s a conversion rate of only 49.7 %. More than HALF of the listings did NOT SELL!
In 2019, 24,338 Edmonton listings were placed on the MLS® System. In 2019 11,540 sold. That’s a conversion rate of only 47.4 %. This is even WORSE than 2020 when Covid 19 affected us all. Again, easily more than 50% of the listings placed did NOT SELL!
So, what can we conclude from this? Listing on the MLS is not by itself a reliable method to sell a home. Your success is not guaranteed, and you need to take a broader view of the home selling process.
Myth 2 – All REALTORS® are the Same Aren’t They?
Some REALTORS® focus on listing and selling homes. Some REALTORS® only work with buyers. Average production per REALTOR® in Edmonton is less than 12 transactions per year. Other REALTORS® sell dozens of homes. Some REALTORS® have many years of experience. Some REALTORS® are brand new.
You might want to find a REALTOR® with a solid track record, rather than listing with the REALTOR® that helped you buy the home, or perhaps is a friend or a relative.
Most REALTORS don't offer VIRTUAL TOURS, Electronic Floor Plans and Professional Photography. The best ones do.
Find an expert who will offer FULL Service. Consider avoiding discounters. As always the old adage 'you get what you pay for' applies.
Myth 3 – I Can Do This by Myself
Now that we have established you need more than an MLS® listing, what else could you do?
You don’t have a preexisting database of screened buyers. Some REALTORS® do.
You don’t have a paid for business page on Facebook. Some REALTORS® have spent thousands of dollars and countless hours creating an audience within the Facebook world, so that they can quickly and easily advertise your listing for you.
You might not be familiar or use Instagram. Again, many REALTORS® have created a following on this channel.
When was the last time you sold a house? You may not be practiced in the process of selling a home. Market conditions change quickly. A good REALTOR® will guide and advise you to make the right choices. Negotiating a home sale is something that most people do every 8 years. The best REALTORS® negotiate home sales several times a week.
Who would be better? You or a practiced professional?
Want more information about our transparent & affordable full service FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca