Hawaii Randy's Real Estate Opinions: June 2014

What is Your Definition of a Full Service Listing?

In the world of real estate you see terms used with various meanings. 

 

One that I come across regularly is what agents consider a full service listing.

 

Here is a comparison of a couple of listings, yet both claim to be full service.

 

Example #1 (one of ours)

  •  Pre listing consultation with listing agent and professional home stager at home
  •  Professional pictures and video tour in the MLS.
  • Color flyers
  • Custom web page for the home
  • Nice sign in front of the home w/ web address of home
  • Social media ads
  • Open house, with licensed agent
  •  Broker’s open house
  • Electronic lock box on front door

 

Example #2 (area agent advertising as Full Service)

  • No photos
  • No flyers
  • No open houses
  • No website or social media
  • Old rusty sign leaning against the side of the house
  • $25 lock box with worn off numbers  on water spigot

 

Our market is hot.  Listings are selling fast if marketed properly. 

 

The example #2 languished on the market and eventually sold after a longer than normal time on the market, for less than comparable homes in the area.  To add pain to the seller’s misery the listing agent was terrible at returning phone calls from agents trying to show the property.  The home may have sold sooner and for more money if buyer could have seen it.

 

I run into these listings regularly.  The reason it may feel like there are so many of them is that they are not selling and stay on the market. 

 

Sellers are looking for a few basic things.

  1. To sell their home
  2. To get as much money as possible.
  3. To have their interests protected and to remove as much stress as possible.
  4. Minimize their time and money.  Time on the market means they are paying mortgage, taxes, etc.  Time on the market means prepping their home over and over for more showings etc.

 

The agent from example #2 advertises the same full service as other agents, but for a substantial savings in commission.  After calculating all costs to the seller and the difference in commission the seller really took a hit on this one.  They netted out several thousands of dollars less and took an extended period of time to get that.

 

In example #1 the home had multiple offers and went into escrow immediately following the public open house.  They also set the new high price for the neighborhood, netting the seller several thousands of dollars more; while removing the stress of not being able to plan their move and to continually prep their home for showings.

 

 

The sad thing is that the seller in example #2 thought he was getting full service.

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 14 commentsRandy Prothero • June 07 2014 08:17AM
What is Your Definition of a Full Service Listing?
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In the world of real estate you see terms used with various meanings. One that I come across regularly is what agents consider a full service listing Here is a comparison of a couple of listings, yet both claim to be… more