I don’t know if real estate companies are created equal but they sure don’t evolve the same way after birth. Some remain small although they would like to be big and some big ones may be nostalgic thinking of the days when they carried less fat. All of them, irrespective of size, are only as good as the weight they can lift, or, to put it in real estate terms, the power they can demonstrate to properly market a home.
Marketing a home today is not just a question of good intentions and noble promises. It’s a question of means. As a real estate company, you have them or you don’t.
Take a very pricey estate for example. What are the Sellers’ expectations when choosing an agent? Well, they want the Realtor to use diligence in trying to produce a financially qualified buyer ASAP. It seems simple enough. It used to be somewhat easier in the old days because we were looking for buyers in our own backyard so to speak. The promotion of the property rarely went beyond the regional boundaries. Well, at the risk of hurting the feelings of some brokers, this is not quite enough in the high end. Not even close.
In the high end, looking for a buyer is no small task. There are only so many people who can play in that league. The challenge is to find them since, otherwise, they may not find the house, and we might not sell it. How do you go about searching for buyers since you don’t know who they are and you don’t know where they live? Well, It is entirely possible that buyers who can afford the property live nearby. After all, we are in Silicon Valley country where money grows on trees it seems like when the market is good. But it is just as possible -if not more likely- that the buyers are from Los Angeles, or New York, or London, or Dubai, or Hong Kong, or Moscow, etc.
Now, ask yourself: knowing the above, what should you really expect from the agent you will need to trust with the marketing of your luxury property? Here is a list of questions to ask: Where will the house be showcased to maximize the opportunities to connect with prospective buyers? Can the agent, or rather his company, actually do what they say? Do they have the necessary technology tools? The marketing services? Do they have a specific high end marketing program? If yes, what does it entail? Are they affiliated with a global network of specialized brokers covering all continents?
Last bottom line question: Do they really have the power & the money to do what may be required to do the job?
These are reasonable questions. Frankly I am amazed that some homeowners in the most coveted zip codes are not considering them when signing a listing agreement. Having a nice & seemingly impressive agent is wonderful but can he walk the talk? Your call.