ALL REALTORS (AND BROKERAGES) ARE NOT CREATED EQUAL
Did you know that 73% of home sellers list their home with the first person they talk to? People spend more time picking a new pair of shoes than picking the person tasked with selling their largest asset!
If you read How to Pick a Great Realtor, you know that experience matters. Consider the facts:
There are 33,000 Connecticut Realtors who represent Buyers and/or Sellers. In 2015:
- 6,100 agents sold zero homes. Zero!
- 5,500 more agents did one transaction
- 4,000 agents sold 2 homes
Almost 50% of Connecticut Realtors sold less than 2 homes in 2015!! The numbers are truly startling. But I digress.
- More than 8,000 real estate agents sold less than 6 homes in 2015.
Add all these numbers together and it means that 70% of agents sold less than 6 homes in 2015. In a hot real estate market! I don’t know about you, but I certainly don’t consider that to be experience (or enough to live on for that matter).
And then there are brokerages. Also not created equal. Connecticut home sellers have lots of price structures to choose from and many sellers are all about saving the 0.5% or 1% commission. But what if ‘saving’ money was actually costing them money? Consider a few more stats:
- the average number of days a home was on the market in Greater New Haven was 27.9.
- the average sale was at 93.55% of the last asking price
Some brokerages (ok it’s our brokerage) have more impressive stats:
- the average number of days on the market: 18.2. That’s 9.7 days less than average!
- the average sale was at 97.6% of asking or 4.65% higher.
So what did that mean to the average home seller? It meant 35% fewer days making the bed and living in the chaos of showings. But more importantly, it meant an average of $16,829 into the pockets of our clients. So even at non-discounted commission rates, our clients came out on top!
Connecticut Realtors and brokerages come in all shapes and sizes. But don’t think for a minute, that we’re all the same.
If you’re thinking of selling this spring, don’t be a statistic. It may be time for a second opinion.