“The 90 Days-on-the-Market” Showing (Preview?)

Call it, “coming in through the back door . . . through the front door.”

What I’m referring to is the practice of at least some agents to conveniently show any properties that have been on the market 90 days — and therefore may be about to expire.

Their logic?

The frustrated owner may be receptive to switching agents — and what better agent to switch to than the one who seems to be representing  . . . their prospective Buyers(s)?!?

“Preview” Motivations

The catch, of course, is that the Realtor may only have been doing what is called “previewing.”

That’s when an agent goes through a listed home without a client in tow.

That could be because the agent has been dispatched to pre-screen homes for a busy or especially particular Buyer — or one who’s out-of-town. 

It could be because the Realtor has an upcoming listing near by, and is educating themselves on the market (note to homeowners:  they may double-back with someone who isn’t a fit for their listing, so you should be receptive to this).

Or, it could be because they’re doing some stealth marketing to about-to-expire listings.

Possibility #4

Oh . . . and there’s one other possible scenario:  the agent really may be working with multiple, prospective Buyers for your home.

I know that that can happen because it occasionally happens  . . . . to me, in my capacity as a Buyer’s agent.

When that’s the case, though, my showings will likely be spread out, not clustered around a significant listing anniversary (3 or 6 months on the market). 

That’s because while I may work with multiple Buyers whose criteria overlap — I usually don’t get hired by all of them the same week!

The two possible exceptions to that are the first week or so a new listing is on the market; and right after a property has had a major price reduction.

So, how do you tell which agent is which?

Fortunately for would-be Sellers, it’s usually pretty obvious if an established, successful agent in your area is showing your home to real Buyers — or an agent who doesn’t meet that profile is trolling for Expired’s to (re)list.

Open — and Closed — Doors

As a listing agent, what do I think of the practice of “trolling for Expireds?”

If I thought it was going on, I certainly wouldn’t like it.

Fortunately, however, my listings usually sell quickly and the issue never arises.  See, 2011 Edina Realty City Lakes (“ERCL”) Awards.

Which goes to the larger point:  the best way to make sure another agent doesn’t swoop in and steal your listing(s) is . . . to make sure the door is never left open in the first place (figuratively speaking). 

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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