What does a Listing Agent Do?
By Charlotte Realtor® Danielle Edwards
Is it worth paying a Realtor® to sell your home? Obviously, I am going YES! But, a good analogy I use would be :
Do you go to a Dentist with a good reputation for a root canal?
Do you go to a good car repair shop to fix your car?
Do you hire an attorney when you have an issue? Or just wing it and fix it yourself?
Of course you hire an expert! You choose someone either that was referred by someone you trust OR you do your due diligence like you are doing now and researching Realtors and reading their reviews. Kudos to you!
Choosing a Realtor® is a commitment. Not all Realtors are equal. Here in Charlotte, NC where I practice real estate there are some fabulous real estate agents to choose from.
Here are some options:
1) Full-time Agent
2) Part-time Agent
3) Team Leader/ Top producing agent
I believe you need to find a full-time agent. One that is accessible. Someone who is not at the top of the food chain. Chances are that top-producing Realtor® will be too busy to be handling the majority of the transaction. You will be passed on to a team assistant or transaction coordinator. That might be okay for you. But, for me when I am selling the biggest investment I have I want to know WHO I am working with. I want to see that person when I sign my documents and see them MANY times throughout the process. Not just at the closing table.
I don’t want to knock Part time Realtors. In my experience, they are harder to reach, learning the ropes, maybe sell one or two homes a year to a family member. This is okay, just something to consider when choosing your Realtor®.
Real Estate Teams
Real Estate Teams are great. There are pros and cons. Think of it as hiring the Corporate HVAC company in your area vs the Mom and Pop. I personally have a small team. But, we are a team for the purpose of collaborating together. Not to vanish on our clients and pass on the work to someone else.
Do Realtors get paid too much?
Realtor® are independent contractors.
We pay for everything.
- Real estate signs, sign riders, open house signs etc
- Realtor® Association Dues
- Local MLS DUES
- Supra boxes and Supra Key
- Pay for accounts for 3rd party sites
- Realtor®.com Zillow …
- Marketing services
- Social media boosts
- Flyers/Information booklets
- Having home professionally measured
- Having professional pictures taken
- PLEASE hire a Realtor® who hires a photographer!
- Fresh flowers & staging items
- Staging, light fixtures or minor fixes to help out seller(I do this).
- Transaction fee to firm(Ours is $195) I pay this for my clients, though some agents charge their clients(YOU) this. I have seen other agents at other firms charge up $800 for this fee(ON TOP OF MARKETING FEE)
- Hire professional videographer/drone as needed
- Edit footage, write blog, arrange youtube and social media placement
- Annual fee to real estate company
- Errors and Ommission insurance
- Annual Continuing Education
- Advertising- everywhere
- Answer phone calls, emails and texts almost 24/7 about the listing. This occurs on Christmas, on vacation in Mexico, while you are sick, your son’s basketball game, your grandma’s funeral…The good Realtors work around the clock for you. Some I heard don’t work past 7PM or on Sundays. That must be nice 🙂 Yes, we have flexible hours. The good ones though are dedicated to you and work pretty much nonstop to make sure you are getting top notch service.
These are just the items that come to mind on what a listing agent does.
The Realtor® doesn’t get the full commission.
Let’s use REMAX as an example(my REMAX)
3%- REMAX agents 5% off the top goes to corporate REMAX, then there will be a split sometimes 20-40% to the firm! The Realtor® also might be paying a referral fee to a relocation company or another agent.
Then after all of that….
The Realtor® has to put 20% aside for Uncle Sam.
- Pay all those fees and bills.
- Pay health insurance
- 401k all on their own
- We don’t get paid vacation, so we have to plan for that.
- The smart agents should be taking what is left and putting it in savings. Since real estate is a cyclical business, you could have one great year and then the next year make half of that!
It gets better…
You are hired to sell a home. As easy as that sounds, sometimes you do the most amazing job, and then they decide not to move. Or maybe the price is unrealistic and then they take it off the market and then implement all your suggestions and list it with someone else. Being a listing agent you use your own marketing dollars to prepare the home for sale, market the home, and use your time to be there for them.
Or on the flip side, the buyer loses their job or something changes and they are not purchasing. After spending hours on the weekends and weeknights driving to show homes, writing up offers that sometimes don’t work out, and educating them through the process.
They just worked 2-3 months for free. I always say, the commission all works out. Some deals you work for free, others are easier, others are very complicated. The good ones earn every cent.
If you really want to know what goes into being a listing agent then I have put together a quick video series.
WHAT DOES A LISTING AGENT DO?
The good news in hiring a Realtor® to sell your home.
The good news is I am here for you and ready to interview. I cover the Charlotte region. If your home is too far out of my area of expertise I can use my resources to recommend someone. Choosing an agent should be personal. Someone you will enjoy working with for a few months and TRUST.
If you don’t live in the Charlotte, NC I can also talk to you and learn about your situation. Then research the best Realtors in your area that will give you the best in marketing, negotiation and communication. I am happy to help! I have created a great network around the world of Realtors.
I hope this blog was helpful! Of course I want to close out with a video on why you should work with me!