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#459342 - 10/11/17 03:23 PM Most top producers just list on the MLS and wait. Would you agree?
gitmonee Offline
Veteran Member

Registered: 10/23/13
Posts: 608
Loc: LA California
Due to criticism from other agents and people in general, some sellers have been trained to be wary of agents who "only list on the MLS and wait".

But when you see top producers' listings sitting on the market for a long time, you know they're doing nothing to move the property other than the MLS, and asking for a price reduction, and waiting for other agents to bring buyers.

Top producers are good at prospecting and getting sellers to sign the listing contract. But as far as actual activities to sell the home, it's just the MLS. That laundry list of things they say they do to create value is mostly BS that doesn't really directly contribute to the sale of a home. Just look at top producers' buckets of expired listings.

What top producers usually do better than industry average is that they get sellers to price appropriately, and present their homes more attractively through quality imagery.
But other than that, there's no magic secret sauce other than MLS pricing and waiting, despite what some sellers have been trained to think.

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#459374 - 10/14/17 02:19 PM Re: Most top producers just list on the MLS and wait. Would you agree? [Re: gitmonee]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3195
Loc: LAND OF THE FREE!
Typically a top producer has more experience and the same tools as every other agent.

I mean.....all doctors and lawyers have the same tools as all of the others but some do the job more often and become better at their craft simply to sheer volumes of experience and having been in the situation 100 times before....a noobie might only have experienced the issue 2-3 times when it comes up in the transaction. Surely there is a ton of value in that especially if they are charging the same price no?

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#459516 - 10/23/17 07:24 PM Re: Most top producers just list on the MLS and wait. Would you agree? [Re: gitmonee]
Tex Offline
Member

Registered: 02/11/14
Posts: 216
Loc: TX
Most top producers just list on the MLS and wait? That is a pretty broad brush. And that could be true in large cities, but not in small towns.

I know a handful of top producers, and can say that I see some differences in what each do to be successful. After 30-40 years in the business some just have sellers come to them and say do it. One with about half those years spends money on advertising. Another I know is real active in lots of community activities.
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#459543 - 10/24/17 10:00 PM Re: Most top producers just list on the MLS and wait. Would you agree? [Re: gitmonee]
Doin' bpose Offline
Major Contributor

Registered: 01/26/09
Posts: 3349
Loc: Old Dominion
The MLS is a fabulous tool that is being stripped. The top listing agents are listing the properties at the most sellable prices because they are able to better communicate to the sellers about the reality of the marketplace. They do more than a simple listing. Chalk me up as a disagree.
_________________________
I can't. I'm going camping.

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#459582 - 10/27/17 07:04 AM Re: Most top producers just list on the MLS and wait. Would you agree? [Re: gitmonee]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 309
Loc: New Hampshire
Originally Posted By: gitmonee
Due to criticism from other agents and people in general, some sellers have been trained to be wary of agents who "only list on the MLS and wait".

But when you see top producers' listings sitting on the market for a long time, you know they're doing nothing to move the property other than the MLS, and asking for a price reduction, and waiting for other agents to bring buyers.

Top producers are good at prospecting and getting sellers to sign the listing contract. But as far as actual activities to sell the home, it's just the MLS. That laundry list of things they say they do to create value is mostly BS that doesn't really directly contribute to the sale of a home. Just look at top producers' buckets of expired listings.

What top producers usually do better than industry average is that they get sellers to price appropriately, and present their homes more attractively through quality imagery.
But other than that, there's no magic secret sauce other than MLS pricing and waiting, despite what some sellers have been trained to think.

I have been thinking about this post for a few days and I read the responses so far.

As has been said, I think you are painting with a broad brush. Top producers may have lots of expireds, but that may be because a real top producer will list more in a month than most agents will in a year. And it has always been that way.

WRT getting listings sold, there is only thing that needs to be done and that has been said already, as well: price them right, righ out of the gate. All the other nonsense about staging and advertising is done as window-dressing. Price sells real estate. Always.

There is a reason that top producers are top producers: they know how to effectively negotiate. If you can't negotiate, you can't list property at a price that will cause it to sell. That process will look different in different markets, in different economies, with different client types, and with different client relationships. And sometimes that involves taking an over-priced listing and working with the seller until it sells.

I will agree that every market and every Board has that agent who lists but doesn't sell. And that agent will often use over-priced listings to generate buyers. But that agent and that approach are minorities, in my experience. Most agents feel honor bound to sell their listings.

So, to the MLS, it is an auction site (and earlier, it was an auction book) and experienced agents know how to make it profitable for themselves. It has been abused, but it is still the best game in town. Isn't Zillow just another variation of an MLS? Why can it work and the MLS can't?

The objection you raised about 'listing and waiting' is what sellers were complaining about 20 years ago. The guys who trained me told me that it was not a new complaint. And, if you consider what FSBO's do to sell, you will see that all they lack is the MLS and the cooperation of other agents: they have a sign, flyer, staging, a presence of Zillow.

Finally, to show the power of the MLS and data sharing, the typical DOM in the commercial world is 6 months to 3 years, depending on asset, market, and terms. Most of these listings(whether for sale or lease) are non-cooperating; cooperation has gotten better in the last 10 years or so, but the majority (in my experience) are still single broker deals. To test this, try to find all the active listings for apartment building sales in your market. The data isn't freely available and there is not significant cooperation.

So, I am a qualified disagree.


Edited by Long Walk (10/27/17 07:05 AM)
Edit Reason: typo

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#460532 - 01/29/18 06:59 AM Re: Most top producers just list on the MLS and wait. Would you agree? [Re: gitmonee]
BlaineBug Offline
Junior Member

Registered: 01/29/18
Posts: 2
Loc: United States
In my opinion, this is all you have to do. All agents have access to the same MLS in the same area, and what is it, nearly 100% subscribe to the MLS? You can't be successful if you don't subscribe to the MLS.

They do all of this crap about mailing marketing material, creating marketing material, bla bla bla, but in my opinion it is totally useless and unnecessary. Everyone throws away junk mail, too. People don't even hang on to business cards anymore. It's all about what is online. Zillow, Realtor.com, Facebook, and the MLS.

Never be trustful of what you are told by competing agents, including your managing broker. I have never so much in my life received such differing and sometimes un-true information as I have since becoming a Realtor!

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