Tips for Listing Agents
OK, tips and tricks that some successful listing agents that I work with inside and outside of your brokerage use.
The goal, the listing agent, you hear the highest and best all the time, right? Highest and best offer. Highest and best offer. That’s really important. But what comes before highest and best is your promise to your client. The listing agents promise the clients I’m going to sell your house on this date or before. That’s so important. Right. Because when you sell your house, you’re going to live someplace else.
So there’s so much timing involved. So highest and best is is is very important. But if things don’t happen as it’s supposed to. Best doesn’t matter. We all know that if I promised my my client, I’m going to sell your house on May 3rd and I have this Highsmith’s Authors’ super happy. And if it doesn’t close till May 20th, because some buyer financing or some insurance issue or some survey or injury or whatever it is, there’s a million reasons. My hands are not happy.
They’re probably not going to use me to list again. Right. So that’s very important to understand. Is highest and best means nothing if you don’t close on time. So what are some of the top listing agents doing? I use the term be like the builder. What does that mean? As a listing agent, your fiduciary responsibility is to represent the seller. And one way that you can properly present offers to the seller is when you present them. It’s not always about highest and best.
Always it’s about which. What is the likelihood of closing on time and how what builders do kudos to the builders is they require that their in-house lender look at everyone that applies. Yeah, there’s a lot of reasons for that from, you know, they pay for that service, so they need leads and all those types of things. But another thing that it does, which is phenomenal, is it almost guarantees the clothes.
Right? Right. Because now they know the person selling the the service and the product knows. And they’re good to go, so as a listing agent, a lot of the successful listing agents I see doing are saying I want to see a full approval. I don’t want to see some pre approval generated on some random dotcom web website. I don’t see a full approval in two. I want to talk to that lender, like on the phone, like right now, eight o’clock on Sunday.
And I don’t want to call one eight hundred number, which means you’re probably going to need a local lender. So as a listing agent, you have a lot of influence over. Hey, hey, Kyle, I love your clients offer. It’s wonderful, but I’m going to need it with a local lender and I want to see a full approval. I’d like to see like a D or an LP approved eligible. I want it to go kind of go through underwriting and I need to be able to tell my client I have 15 other offers.
So if you want me to take that seriously, let’s let’s be serious about this offer letter. All right. So that’s one thing I see a lot. It doesn’t matter. There’s a lot of great local lenders out there. I’m always happy to help and I know a lot of works with great ones, too. I’m sure you guys have great ones. It’s so important nowadays in order for you to deliver on your promise to sell the house on a certain date that you tie up that financing. covid has thrown wrenches and a ton of financing out there.
A lot of local lenders as well. Our correspondents are brokers, which means they’re going to smash and beat the rate ninety five percent of the time of any of these big national banks. All all the Internet banks are struggling to compete with any sort of local broker correspondent.
So not only is that that person make an offer, your house is going to get a better deal, but you’re going to double your clothes, right? You’re going to be more likely to close on time every time. That’s very important. It’s a win win is a win win. I couldn’t agree more. I’m going to give kudos to Hannah and Kim and and Susan and Shana in November and December.
There were a lot of deals where they were kind of the buyer was buying a house inside the brokerage that the seller was selling. And we did a lot of the hey, want to make sure you’re approved here and there. And man deals were closed and twelve, thirteen, fourteen days bycel sell. It was super smooth, super easy. The clients had a phenomenal transaction. They got everything they wanted, rave reviews. So I am so proud of Kim, Hannah, Susan, Shana. I feel like I’m missing someone but they did a great job of navigating that so that their clients had a great experience. Great job, buyer’s agents. You’re up next.