September 20, 2019
For listing agents, the push for a more streamlined and connected real estate environment presents plenty of pluses and minuses. While things like social media and app technology are helping to connect agents more freely with possible clients, it can also pose a risk to the industry by empowering homeowners to go it alone and handle the listing and selling of their home on their own.
However, even in the age of mobile house selling (i.e. sites like Homie or Opendoor), a recent Harris Insights housing consumer study showed that 90 percent of consumers polled still use real estate agents to buy and sell their home. This means there’s still a big opportunity for listing agents to connect with homeowners and do what they do best. That’s why it’s still important for listing agents to abide by solid qualities so their reputation and experience keeps their business moving, even in the digital age.
Here are some great qualities listing agents should have:
Understanding of Market Analysis
For listing agents, market analysis and valuation are two big components that should make up their everyday knowledge base. Having competency in these areas and being able to analyze the current market will help customers with ensuring that their home is priced at a competitive rate in relation to the market. This will make sure that their home is right on target—not too high, not too low—in accordance with the market so it will sell on time.
For valuation, listing agents need to understand the different parts that make a home unique and help to price it accordingly. Having a good eye when it comes to the different components that make a listed house a valuable asset on the market (i.e. large backyard, basement, remodeled features) will help the pricing as well.
Communication is Key
Listing agents should also double as great communicators. From asking the right questions in order to get the most important and relative information out there to market to being able to answer the most intricate questions from sellers about their home or potential buyers, listing agents should use knowledge and understanding as vehicles to an open communication line.
What’s more, communication doesn’t end when the listing is done and signed. Listing agents should also keep the sellers informed throughout the entire process until the very last document is filed and everything is settled.
It’s no secret that social media and online marketing have made buying and selling a home more modern, tech-driven, and almost gamified. Technologies like augmented reality, 3D imaging, and artificial intelligence are putting homebuyers in the driver’s seat when it comes to a more hands-on experience, and giving home sellers a new way to market to buyers on their own.
But, as mentioned above, home sellers are still going to the experts in the industry (listing agents) to help them sell their home to the best buyer at the best price. Listing agents should be able to leverage their knowledge of the market and experience of their profession to help home sellers get the best results. This can be done by marrying today’s technology and apps and sites with traditional hands-on marketing and advertising tactics that helped listing agents in the first place.
A listing agent should be looking out for their client as well as their own business. This means that looking out for your future as a listing agent and successful business should be a high priority. Insurance for real estate professionals can help to cover costs related to any claims made by clients you work with. From negligence to slips and falls, the right coverage can help to keep listing agents and other real estate professionals protected and responsible for their business.
About Associations Liability Insurance Agency (ALIA)
The ALIA Team (part of the Riverton Insurance Agency Corporation), specializes in helping real estate professionals find the affordable and comprehensive liability insurance they need, without the hassle. ALIA dates its roots to 1991 with the founding of FREA, Foundation of Real Estate Associates. In 2013, ALIA was created to work with multiple insurance companies thereby broadening the portfolio of products to customers. For more information about our products and services, contact us today at (800) 882-4410.