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Question about realators and home sales7685

Basic
Member
JohnLoser private msg quote post Address this user
The first response to the question, "What do you wish you knew before..." was "I wish I knew how tight realtors are." I can understand that they want to maximize their profit and that means NOT spending money for promotion. (Talk about a CVatch-22"!!!"
So here is my series of questions:
1. What is the percentage of homes that a realtor lists do THEY actually sell? (Thus getting the full commission.)
2. How many of these homes sell in the first 15 days of the listing?
3. How many of these homes sell in the first 30 days of the listing?
4. How many of these homes sell in the first 45 days of the listing?
5. What REAL proof do we have that Matterport tours - or any virtual tour - aids in the sale?
Post 1 IP   flag post
3rd Party
Service
Metroplex360 private msg quote post Address this user
A Realtor who commissions a Matterport Tour is the same type of Realtor who knows how to sell homes!

I find that Realtors who really love Matterport tours and use them for multiple listings are Realtors who have a working strategy that involves social media, email marketing, community events, and the whole shebang.

Matterport tours may sell homes -- but they have a long term value as marketing tools.

1. They impresses sellers. Offering Matterport can win them the deal as listing agent -- it can also create buzz as the seller may tell friends that the Realtor does X, Y, and Z and the Realtor will continue to succeed. Having branded tours allow a Realtor to 'story tell' about past homes they've sold and further add credibility when courting new sellers.

2. They enhance marketing. If a Realtor gets 3D Tours done for all homes and sends out postcards to all of the surrounding neighborhoods that has a link to either single property sites or a website that has the tours - it will make the Realtor look amazing. It will attract future sellers. It might even attract a buyer -- or a friend of a potential buyer.

3. They bring sellers back. If a seller had a Matterport 3D tour created for them and believes that it helped to sell the house (or they just thought it was cool), they will more likely pick a Realtor that offers the same technology the next time around. That narrows the field and they will probably continue to work with the same person/family as long as they remain in their area.

--

If you are a GREAT Realtor, then you take a holistic approach to selling homes. Matterport is a part of that.
Post 2 IP   flag post
Photo - Video
Editing Service
PhotoAndVideoEdits private msg quote post Address this user
As I previous agent with $165 Mill in 3 year period, I believe I can be used as a source of reliable answers to the above question.

Answers:

1. How long is a piece of string? Almost like an open ended question. Some may sell 10% others 80%. There is too much variation.

2. It should be irrelevant
3. It should be irrelevant
4. It should be irrelevant
5. It should be irrelevant (but it could help, yes).


Honestly, no sarcasm intended here with my answers and I will explain why.

I get where you are coming from but if you really understand what making the money in real estate is all about, the first thing you should know is that first win the listing, then retain it. Do this very well and your percentage of what you sell will be 100% unless someone decides not to sell their home.
I'll answer the retaining it first as it goes to answer question 1. To retain the listing even if you've had it for a year (without an offer) all you need to have done to keep it is communicate with the seller at the very least weekly. My well respected broker (who is in her 90's now after more than 60 years in the biz) taught me this: They can forgive you for not selling the home, but they cant forgive you from not talking with them and keeping them abreast of whats going on. Do this right, and you will sell 100% of what you list. And how many do you sell yourself? My last year in selling I sold 75% of my own listings. Thats Extreme. But why? I dominated my marking with my local market knowledge and got a reputation of being the go to guy. Buyers came to me because of this so I sold a lot of my own listings.

So how to get the listing. See Chris's number 1. answer above and thats part of it. To get the listing you show them the latest marketing techniques but the bottom line is that you show them that you will outspend everyone else in marketing if the listing goes to the full term of the agreement. Show them this as well as your past sales and voila, you got the listing.

2, 3 and 4 don't matter as you should spend the money on all of the initial things you planned on doing in the first two weeks of it being on the market. Photos, Video, 3D, Add in the local paper, MLS entry etc. etc.

So whether it sells in 15, 30 or 45 days is irrelevant. A smart agent will spend the money right out of the gate from getting the listing. They then have the history to show that on the last few sales that sold in 30 days, that they did this this and this on marketing the home. Most likely, the seller will think that it was all the marketing that you did that sold his home when in actually reality it was from the line of buyers you have in your database to call.

Thats what a great agent will do...... The rest are too cheap and dont run their business like a business and make the necessary investments.
Post 3 IP   flag post
WGAN
Founder
DanSmigrod private msg quote post Address this user
@JohnLoser

Homeowners care how long it takes to sell a home. "Using a Matterport 3D Tour like this, we will do our best to get:

✓ the most offers
✓ for the most money
✓ in the fastest amount of time
✓ with the least amount of stress (walk throughs by people that walked through the home with the 3D Tour)

When talking to real estate agents:

✓ help you get more listing presentations
✓ help you win more listings
✓ help you get bigger, premium listings
✓ help you do this more often
✓ [for brokers] help you get more tech savvy real estate agents

It's worth reading @PhotoAndVideoEdits Founder Colin Forte comments again (and again) (and again).

Best,

Dan
Post 4 IP   flag post
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