I recently had a deal where my best friend was buying a home in St. Louis. It was a multiple offer situation and we ended up losing out on the home to another agent. We here at STL Real Estate do a pretty good job, we have a lot of things in place that we do to try and get our clients’ deals on multiple offers, but we weren’t able to get this one. The other agent got it and they did an inspection on the home and found that there was some mold. Because of the mold, the buyer ended up backing out of the deal.
I know what you’re thinking “Mold? Oh my gosh. That could be a huge deal.” Absolutely. Mold can be a huge deal. But in this particular case, on a scale from one to ten, I would call the mold issue a one.
It was a very minor issue that the buyer got freaked out about and blew out of proportion. What’s interesting is that we came in and ended up buying the home (at STL Real Estate, we are a we buy houses company in addition to being real estate agents). We bought the home and ended up getting it for around $370,000 and the thing ended up rising to $390,000 the day we closed on the property. The day we closed on it, my client had $20,000 worth of equity and the mold problem cost a couple hundred dollars to fix.
So in order to be a top agent, it is important to be able to communicate and understand what the problem is, communicate it with the client, and really explain the logic behind what the problem was, how we can fix it, what the scale of the problem will be, and so on and so forth.
What’s crazy is that most agents, when they go to you, will talk to you about “Oh, I have this big marketing binder. I have this big fancy plan, all these bells and whistles.” But they’re not effectively communicating what the job of an agent really is. That is exactly what not to look for in an agent. That’s kind of a great example of what makes up a top agent and what they can do and are willing to do, as opposed to an agent that doesn’t really know what they’re doing.
I do wish that real estate professionals, in general, would stop being so focused on the marketing plans, and stop putting out so much misinformation on it. At the end of the day, what you have to realize about marketing is that it doesn’t really matter.
As a collaborative industry, we have to work together for buyers and sellers and, from a marketing standpoint, our efforts are all very similar, but not all the same.
There are additional things that agents can do on top of what’s normal. I understand that and there are some important things that we can do. So I’m not downplaying our marketing efforts of our team or the marketing efforts that other agents are doing. Just be aware of what type of agents are out there and be sure to find the top agent that will best suit your needs.