What makes a homeowner want to switch estate agents and try a new one to sell their home?
It’s a question we’ve mulled over for the past month.
Especially as we’ve been working on a guide to help people see if switching agents is the best move for them.
And part of that process was to speak with homeowners about why they changed agents.
Using a mixture of Facebook friends, family and clients, we received around 25 responses to our question, “Have you ever switched estate agents when selling your home, and if so, why?”
And the answers we received are valuable for agents willing to listen and learn from them.
The three top issues that made home sellers seek a new agency were almost unanimous. A case of ‘over’ and ‘under’.
Here they are:
1. Overvaluing: A tactic many unscrupulous agencies employ to lure people into using their services. While part of me thinks you get the agent you deserve, another part gets angry that some agents can be so shortsighted and cynical.
The feedback we received from homeowners highlighted this as their number one complaint and reason to switch. The sense of being misled was a theme in the answers, and overvaluing, followed by advice to reduce price three to four weeks later, left homeowners angry and distrustful.
2. Overpromising: “We’ve dozens of buyers seeking a home like yours.” I recall seeing many fliers and direct mail around this message a few years back. I don’t see it as much now, but that may have to do with genuine agents banishing this myth online and homeowners now having access to educational content that ‘clues’ them up around this tactic.
Agents who overpromised to home sellers usually did it around a hat trick of horse sh!7e – 1) ‘We’ve got loads of buyers wanting your home’ (see above.) 2) ‘We’ll have offers matching the asking price within a month.’ 3) ‘ The market is buzzing’ (even when it’s not).
Interestingly, one of the questions we asked home sellers was, ‘What reasons did your former agent give you for your home not selling? Top of these included – 1) The market has dramatically changed (really? Within six weeks?) 2) Buyers have dried up due to forces outside of our control (what forces?) 3) The weather – too hot, too cold, too rainy.
Sometimes, the reasons are valid, but when an overvaluation has prefixed them to begin with and added to my final point (see below), you can see why some home sellers mistrust agents.
3. Underperforming – I spoke with ace agent Luke St Clair recently about his trip to Australia with Stephen Brown to study how agency is done there. One thing he said was echoed by home sellers we communicated with – ‘it’s all about making people feel special.’ This is a universal truth, in my opinion.
However, many agents left home sellers feeling the opposite, undervalued and disrespected by the levels of service they received. Complaints were common around unaccompanied viewings, not providing feedback, not staying in touch and something as simple as not returning telephone calls or replying to emails.
Considering the above, you can see why it’s a no-brainer for many people to change their agents when their home seems stuck on the market.
It’s Not All Agents
Don’t get me wrong; some homeowners have unrealistic expectations and don’t conduct themselves well (see my earlier point about getting the agent you deserve if your only consideration is the asking price).
However, from personal and professional experience, I know that the best agents do not overvalue and tend to underpromise and over-deliver.
That’s what makes them the best.
Guide Them Wisely
Based on what we learned from home sellers and what some of the top agents in the country have shared with us, we’ve created the Guide to Switching Estate Agents if Your Home Isn’t Selling.
We’ve been mindful of the need for it to be balanced (it’s not always another agent’s fault), educational (the pros and cons of switching / FAQS around changing) and valuable (steps and tips on how to switch successfully).
Touting, Prospecting or Helping
I remember a bang-average but know-it-all agent saying he never sent prospecting letters to homes on the market with another agent (I found out later that he did, lol). He said it was beneath his agency and felt pushy.
While I think some unsubtle prospecting comes across like touting, a genuine intention to help someone sell/move should be applauded.
How can genuinely wanting to help someone move onto the next chapter of their life because you feel better placed than another agent to do it be seen in a dim light?
I just don’t get it.
Anyway, for more info about the guide and the contents of the pack accompanying it, see below.
If you’re interested in buying the pack with a 100 per cent money-back guarantee (within 48 hours of purchase), contact me today.
Thanks for your time, and good luck.
Jerry