Does having a Big / Famuous Realtor Company Help?

[FLsites]

Hello All. I need another feedback from everyone.

We have a ocean front condo that is located on New Smyrna Beach, FL and our current Realtor has not been doing much in selling the home. We have not seen any listings from him and we really don't think he is adequate enough. The contract is also over.

Anyway my questions, how much of an advantage for me as a buyer if I signed up with realtors that are associated with big names such as Century 21, Remax and others ? Would more people see the listings?

This is a must sell place and need to get rid off right away because it has been a burden in the pocket.

All your opinions would be appreciated. Thanks.

[RG1x]

In my opinion, the answer to your question is no. Becuase it all depends on the level of service your agent is providing.

If you were to go with a "big name" company the only advantage to me is that the agent can promote your property to other agents within the office during meetings and what not.

When using an agent you should also go over EXACTLY what services and marketing techniques will be used to sell your home. Having an agent that tells you that they "will do everything they can", is not a good signal. You should be provided with examples of marketing/advertising marterial that will be used, the frequency of such materials distribution, frequency of broker tours, open houses etc...

Anyway you look at the situation, you will be placed into the MLS when using an agent. Most buyers use buying agents to assist them, so the MLS will always be your best option regardless of what company your agent represents.

Think of the whole picture as purchasing a car... If you find a car you like at a price you are willing to pay, does it really matter what the name of the car dealership is? Of course not...

Good luck,

Robert Greco
up4salehomes . com

[TJ2007]

Big names really don't mean anything - it's down to the individual agent.

(there may be something to be said for an agent who has a big presence in your area as they 'may' attract more buyers 'maybe')

How many listings an agent has? - doesn't mean he is actually selling them!! And many agents advertise listings of other realtors to make themselves look busier!

Look for an agent that is really going to huslte and work hard to sell your home.

Make sure all the things he says he will do to market your home are in writing in the listing agreement - this will give you an out if he doesn't live up to the sales pitch...

[gregreed]

It comes down to the individual agent. Most top agents are accountable and they provide at least a service guarantee.

[Alpharetta]

Do yourself a favor...Call three real estate agents, preferably REALTORS and ask them to come out and meet with you about what they will do for you and ask them what they will do to market your home. You will get a good feel for whether they are competent or not. The brokerage that an agent works for is minimally relevant - at best. Many top agents work for smaller companies because they have more flexibilty. Of the three agents you interview, at least one should be a local expert, someone who sells frequently where your home is located.

[Howshunting]

It doesn't matter how "big" the company is, if the agent sucks then everything else follows. Also, these big companies usually are able to spend for advertising which translates to overhead so they may have to offset all that somehow. The agent is what matters here.

----
Why match when you can itzamatch?

[FlaGal]

How many listings your current agent has or with which brokerage he is doesn't mean much. It all boils down to how much your agent is doing to get your home sold (direct mailings, online presence, virtual tours, open houses).

[YourOrlando.com]

I agree with the previous post. I do think it's a good idea to interview at least a couple agents. And like FLAGAL says, be sure to ask them precisely how they will market your condo. Over the years, I have developed a specific maketing plan that produces the best results. I think some of the newer and less experiened agents may do little more than place your condo in the mls and that's it. Not because they don't care, they may just not know what else to do. When you ask for specifics in your interview, you will quickly see who has a plan and who doesn't. I work for RE/MAX and I think we have great training programs which have helped me refine my marketing systems to where they are today. That being said, I do agree that it's more about the individual agent and less about the company. One more thing, I'm not sure why your condo didn't sell, but with the current inventory levels in Central Florida, you have to be priced very competitively or it just won't sell.

Best of luck

[Codythebest]

Just to confirm.
Don't look for a 'big' company, look for a decent agent, working hard and listening to your needs.
It's the agent that matter....

[sellinggalveston]

I think online presence has alot to do with it... our website gets over 1,000,000 hits a month and we sell alot. Even when others are slow we do well. Ask to see examples of what marketing they do such as mail outs, stats for their web site, press releases, and so on. Don't be afraid to ask how much they sell- they should be proud to tell you... good luck! Also go to the search engines and type in what your looking for like "Galveston TX real estate" and pick one of the top natural choices...

[tvischer]

I don't think it matters what company you use. It all comes down to the agent. But you have to remember the more the Agent spend the more they will want to recover when they close. Where I work at Neptuneblu, here in Virginia. We only charge 1 percent for regular commission. That gives the seller a huge discount at closing. But you have to remember, right now is a buyers market...that has a lot to do with everything.

[Bobbygunn]

I don't think it matters what company you use. It all comes down to the agent. But you have to remember the more the Agent spend the more they will want to recover when they close. Where I work at Neptuneblu, here in Virginia. We only charge 1 percent for regular commission. That gives the seller a huge discount at closing. But you have to remember, right now is a buyers market...that has a lot to do with everything.

Here's a quote from my agent after one of month of listing my house.

"As I said yesterday I have done everything as far as marketing your home that we do for all our listings. I truly think a price reduction is our next step. As you know there is a lot of homes on the market and funding is a major issue for buyers right now. Buyers are finally being forced to bring money to the table as 100% loans (except VA) are almost non-existent. Which means buyers have to come up with 5-10% downpayments. Which in turn the average buyer is now looking for lower priced homes which are easier to get in. Also since sales prices have dropped we are seeing more appraisals come in lower the the accepted offer prices which sellers are having to bend even more."

Thoughts? Excerpt from email from the agent listing my house who works for a large realty company.

[tarheit]

I agree. The size of the company alone doesn't make any difference. And a franchise name doesn't really help either, though it can depend a bit on the local market. (In our market all the top companies have dropped the franchise).

What your agent does for you is the biggest thing, but don't completely forget the company. The agent won't be able to help you as well if the company doesn't have a web presence, isn't a member of the local MLS, doesn't have a broker that supports his/her agents, etc. And, your contract is typically with the office/broker, not the agent (at least in Ohio). So when there is a problem or something happens to the agent (leaves for another office, etc.) you can be stuck if the broker won't provide the service you want.

-Tim

[gjtrafl]

Assuming the agents were the same (experience, effort, ability, etc...) then the larger company will have more resources to get it done. That being said, the individual efforts of the agent and ability to market effectively will make the difference.

[tarheit]

then the larger company will have more resources to get it done.
Maybe. In some of the biggest companies near me, agents are very independent with little help of the company (the other agents and broker) and provides fewer tools for their agents (They depend on volume to succeed, not individual sales). Some of the small companies have far more tools, advertizing methods, etc. as well as a team (and broker who knows every listing, etc.) to help. Not true of all companies, but size seems only to indicate 'number of agents' and doesn't correlate with success, at least locally.

But at the end of the day you do need an agent you can trust and has the ability and willingness to get the job done.

-Tim