When selling your home, should you stick with one real estate agent or list your property through multiple agents? Both options have clear advantages and disadvantages that sellers may want to consider before deciding.
Listing with Multiple Agents:
- If you want to make a quick sale, listing your property with multiple agents would seem like a logical choice. And there’s a good reason for that. You get more exposure. These professionals can utilize different avenues such as the newspapers, buyer networks and internet property listings to spread awareness for your property. More exposure means a gathered interest from a larger audience.
- The downside to using multiple agents though is that you’re working with a range of people and various sales strategies that are often times totally different from each other. This also entails that there are different degrees of understanding as to what type of buyers are qualified for the sale. This may mean the information about your property becomes different than you first intended as it travels between agents and their networks - which will mean the buyers they present are not necessarily sold on the correct info.
- Hiring multiple agents also means that negotiations will be done in isolation. The ones competing won’t be the buyers but the actual agents. This hurts your cause because you might find out too late that someone else may have made a higher offer.
- There is also the risk of running into “commission cowboys”. These are self-professed private agents who will do anything to make a sale. This doesn’t always get you the best buyers.
Listing with an Exclusive Agent:
- The thing about listing with an exclusive real estate agent is that their sales strategy – if it’s the right strategy – it can save you a whole lot of time and effort. It focuses in on making sure that you get a good deal, with the right buyer without demanding too much. This also offers the agent more flexibility to adjust their strategy based on your needs and on the current market’s feedback.
- You can hire a professional that specializes in your kind of property too. It is important to note that one effective person can outdo a hundred ineffective ones. Make sure you choose your agent wisely.
- Having an exclusive real estate agent also makes it easier for the buyer. Buyers would rather think about their personal needs more than they think about which agent they should contact. Keeping everything singular eliminates any possibility of confusion and makes it more convenient for buyers to make an offer.
- Exclusive agents also sometimes package property management services into the mix as a form of incentive. This is something you won’t get from multiple agents.
- The downside to this is that information about your property is limited to the stream of influence your agent has. Your reach is much more contained.