The two largest online marketing resources for Real Estate are Zillow.com (who is also the parent company of Trulia) and Realtor.com. As real estate professionals, we all use these as tools to market our homes for sale as they have the largest reach for potential buyers. But are these platforms doing justice for our real estate profession and are they really helping buyers make informed decisions of who to work with? Here’s some insight into these platforms and our recommendations for making the right choices when picking a real estate professional to represent you as a home buyer.
CONTACT AGENT …. Beware!
We’ve probably all spent hours going down the Zillow/Realtor “rabbit hole”… scrolling through homes for sale. Then we find THE ONE. The house we REALLY love and can picture ourselves in, making a lifetime of memories with our family and friends. Right on the listing is a large CONTACT AGENT link. We click it…. Then what happens?
You might think you’re contacting the Listing Agent, who has the most information about the property you’re interested in. You might also think that you are being connected to an experienced and knowledgeable Buyer’s Agent that knows the property and the local market and can help answer any questions you might have.
But the way these platforms work is they sell these “Buyer Leads” to whichever Realtor paid the most money for that area’s leads. They sell a certain amount of spaces in each zip code on their platforms and rotate through each agent who has paid for leads. So instead of getting an experienced or knowledgeable Realtor, you can be getting ANYONE, from a brand new agent that has never sold a house before, to an agent new to the area that has very little knowledge to the local market or even an out of area agent looking to expand their territory but has no local ties or experience. We’ve spoken to many clients who have had these experiences. Some have even told us that the agent they were connected with from one of these platforms informed them that the listing they were inquiring about was no longer on the market, even though it clearly was!
CHOOSE WISELY … Choose Local!
Dual Agency is a term you’ve probably heard of in the Real Estate world. This means that the Listing Agent (representing the Seller) is also the Selling Agent (representing the Buyer). In very competitive markets, Dual Agency is not often used as it can lead to conflicts if the Realtor doesn’t uphold their duties to their clients on both sides.
In smaller, less competitive markets like here in McCloud (and all of Siskiyou County), we see a lot of Dual Agency. There can definitely be benefits to working with the Listing Agent as a Buyer. They will be the agent that has the most information on the property and with them working directly with the Seller, negotiations and communication can often be much smoother than having another agent involved. Efficient and clear communication is KEY to a successful transaction and the less people involved, the better this process can go.
If you want a separate Realtor to represent you as a Buyer, here are some tips to find the right one for you, instead of just clicking CONTACT AGENT on a listing.
- Research Realtors in the area you are buying. Check out their websites, read testimonials and choose someone that is experienced, has local knowledge and that you will enjoy working with.
- Contact a few Realtors and interview them to get a feel for what kind of agent they are. They should be able to answer basic questions about the area and real estate market and be able to prove their experience.
- Ask Around! Referrals from other buyers and sellers is the best way to find an agent!
- You can also reach out to the Listing Agent, explain your interest in the property and let them know that you’d like a referral to a Realtor as a Buyer’s Agent. The listing agent can provide you with a recommendation of an agent that they trust and have confidence in.
- If you are going to be buying or selling a property elsewhere and want help finding a qualified Realtor, please let us know and we can assist with interviewing and vetting people to help you find the right one for the job!
In conclusion, while these platforms are great tools for marketing homes for sale, we urge all potential buyers to do their own research when choosing an agent to work with and not to rely on the Contact Agent feature on these websites.
Have Questions? Give us a call or an email and we’re happy to help!
