Not every real estate agent takes your listing with the intent on selling it. Some agents like to keep houses they’re listing as trophies. By keeping houses as trophies, an agent can use it as listing bait, to attract other listings, and as buyer bait, to attract buyers that they can steer to other homes they’re trying to sell. This article explains how trophies are used and how to avoid real estate agents that collect, but never sell trophies.
How Trophy Listings Are Used
Basically, all listings are trophies to a real estate agent. Agents display their trophies on “New Listing” postcard mailings that they send to prospective sellers in a new territory they’re trying to break into. They use your listing to attract buyer clients through open houses. Agents also like to use trophies in advertisements. Flip through a real estate magazine and you’ll see tiny postcard sized pictures of houses scattered around a giant picture of that agent. The picture of the house is so small that you can barely see the front door, but you can see every blemish and wrinkle on that agent’s giant picture. Using listings as trophies is commonplace, and none of these practices are bad if they benefit the seller in some form or another. However, when an agent only uses your listing to attract future listings and to attract buyers to other listings, you have a serious problem.
How To Avoid Real Estate Agents That Collect Trophy Listings
There are several signals that you can look for to see if an agent likes to collect trophies rather than sell them.
- If an agent has more listings than he could possibly manage
- The agent’s ads only promote the agent and not his/her listings
- You see more ads promoting the agent than the agent’s listings in the local media
- The agent doesn’t have any other listings in your neighborhood
- The agent’s listings are scattered across an area too large to adequately cover
- The agent’s track record is filled with lots of expired listings and cancelled listings but very few sold listings
- The agent’s agency does not represent buyers in your area
- While all the other agents thought your price was unrealistic, this agent agrees to it without question
- A sign in your yard is the only advertisement you’ve seen regarding your listing
- Your agent is avoiding your phone calls
- At your listing’s open house, your agent spends more effort attracting new clients than she does selling your house
So, if you’re wondering why your house isn’t selling, or generating any interest, then your house may be a trophy in your agent’s listing portfolio. If that’s the case, it’s time to take that trophy off her or her mantle and find another agent. AgentHarvest’s free real estate agent finder service can help.