Sellers will often be impressed by the fact that a particular agent seems to be active in their area by advertising a long list of properties however this can be extremely deceiving. Sellers should check agents’ List to Sell ratios. – According to RE/MAX WA Managing Director and Trainer, Geoff Baldwin.
This subject came up in a recent conversation with a frustrated seller who had listed their property with an agent who seemed to be dominant in their area.
On analysis we discovered however that the particular agent did hold a lot of stock however was only successful in selling around 45 percent of those properties.
Obviously this meant that the remaining 55% of sellers were wasting their time and often their marketing funds when they could have listed with a more successful converter, perhaps holding less stock but with more time to dedicate to each client.
As a seller you have every right to ask for evidence of an agent’s conversation ratios or you can do your own checking by looking at the agent’s listings versus sold statistics on the major websites.
By the way, don’t be influenced by so called “agent rating” sites. They are paid by agents and certainly don’t reflect who is the best agent in any area, he said.