What to Look for in an Agent Track Record

What to Look for in an Agent Track Record

Buying a house is a big deal. It's probably the biggest purchase you'll ever make. You want to make sure you get it right. That's why choosing the right real estate agent is so important. But how do you know if an agent is really good? Lots of agents say they're the best. You need proof. Looking at an agent's past sales is a good way to find out. But you need to know what to look for.

The Problem: Numbers Can Be Tricky

Most people just see a picture of an agent and a few nice words. Maybe they see a sign that says "Top Producer!" But that doesn't tell you much. It doesn't tell you how they got there. Some agents might sell a lot of houses, but at what cost to you? They might sell them for less than they're worth. Or they might take a very long time to sell them. You need to dig deeper than just fancy titles. You need to look at the real numbers. Understanding these numbers can help you choose an agent who will work hard for you.

The Explanation: Decoding the Numbers

When you're looking at an agent's track record, focus on three key things. These can be found in verified sales data:

• Total Sales: This is the total amount of money the agent has made selling houses. It sounds impressive, but it’s not the whole story.

  • What it means: A high total sales volume can mean the agent is experienced. They've likely handled many different kinds of transactions. However, it doesn't tell you if they got the best price for their clients. An agent could sell a lot of cheap houses, or a few very expensive ones.

  • Example: Agent A sold 20 houses last year for a total of $5 million. Agent B sold 10 houses for a total of $6 million. Agent B sold fewer houses, but their average sale price was higher.

• Days on Market: This is how long it takes, on average, for the agent's listings to sell. This is measured from the day the home is listed to the day it is under contract.

  • What it means: A shorter "days on market" is usually better. It means the agent knows how to price houses correctly. They also know how to market them well. A longer time could mean the agent is overpriced, or not doing enough to attract buyers.

  • Example: Agent C's listings sell in an average of 30 days. Agent D's listings take 60 days to sell. Agent C is likely better at pricing homes competitively.

• Sold-to-List Ratio: This is the final sale price divided by the original listing price, shown as a percentage. This shows how well an agent negotiates.

  • What it means: A higher percentage is usually better for sellers. It means the agent is good at getting the highest possible price for their clients. A lower percentage could mean the agent is too quick to accept low offers. Or they’re not pricing the home accurately to start with.

  • Example: Agent E lists a house for $300,000 and sells it for $290,000. Their sold-to-list ratio is 96.7% ($290,000 / $300,000 = 0.9666). Agent F lists a house for $300,000 and sells it for $310,000. Their sold-to-list ratio is 103.3%. Agent F is likely a stronger negotiator.

Action Steps: Putting it All Together

Now you know what to look for. Here's how to use this information:

1. Ask Agents for Verified Sales Data: When you interview agents, ask them to share their verified sales data. Don't just take their word for it. Ask for the numbers.

2. Compare Agents: Look at the total sales, days on market, and sold-to-list ratio for several agents. Compare them side-by-side. Who has the best numbers for your needs? If you want to sell quickly, focus on days on market. If you want the best price, focus on the sold-to-list ratio.

3. Consider Your Goals: What's most important to you? Selling quickly? Getting the highest price? Find an agent whose track record aligns with your goals.

4. Talk to Past Clients: Ask the agent for references. Talk to people they've worked with before. Did they have a good experience? Were they happy with the results?

5. Don't Rely on One Number: Look at the whole picture. A high total sales volume is good, but not if the agent takes forever to sell houses or sells them for less than they're worth.

How smover Helps

smover can help you find real estate agents in your area. You can see the agents' experience and connect with them directly. This helps you start the conversation and ask the right questions.

Choosing the right agent is crucial for a smooth and successful home buying or selling experience. By understanding what the numbers mean, you can make a more informed decision. What other questions do you have about choosing a real estate agent?