“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.
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)?!?
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.
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).