In choosing an agent, sellers going for cheap over smart
No wonder there is a glut of unsold homes on the market.
OK, I am being facetious here, but the latest survey from HomeGain illustrates a glaring intelligence gap in today's market.
On one hand, we have sellers all too eager to choose agents based on style rather than substance.
And on the other, we have buyers looking for substance over style, and, in particular, easy to visualize, basic information on homes.
Basically, what sellers want is a cheap agent who is all over the web - fees followed by web presence were listed as the top two characteristics sought.
These top two were followed by "use of virtual tours," which ranked No. 3, followed by office location, at No. 4.
Only a few sellers - 3 percent - listed "use of floor plans" as a key factor in determining whether to go with one agent over another.
But guess what?
Buyers aren't so hot on virtual tours. Rather, they are looking for a decent set of photos and floor plans to look at.
In fact, photos are No. 1 and floor plans are No. 4 on buyers' lists, with location of the property on a map at No. 2 and room sizes No. 3.
And what about all those fancy, virtual tours agents are impressing sellers with?
Well virtual tours all the way down at No. 9, past street name and number, for buyers.
As they say, you get what you pay for.
