By: Miguel Fernandez Morales LLB, MBA

Big Ego: Is your agent’s causing you to lose money?

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS

 By Miguel Fernandez

A few days ago, I was talking to some of my fellow real estate agents about how they sometimes allow other agents to advertise their listings, to take advantage of everybody else’s advertising efforts to promote the house that they are selling and get more potential buyers for the property.
For me it makes total sense, and it is a way to help your clients sell for more money. However, some agents disagree; they don’t allow other agents to advertise their listings because they consider the property as THEIR listing - they own it. If someone is going to get a buyer (and double commission) for their listings, then it should be him/her through their own system. They don’t understand that THOUSANDS of other agents advertising the same listing will only help sell their listed property faster and for more money - which was their initial promise to the homeowners, was it not?
When I dug a little deeper, I realized that it is simply a problem of EGO. They don’t want anybody else advertising their listing because they want their name in every place, because for them the most important is not the exposure that the property listing will get, it’s the exposure that they THEMSELVES are going to get during the marketing period. They want only their name and picture in every piece of advertising, no matter if it is going to help your house to sell or not.
Not allowing other agents to advertise the listing is also a common practice for a lot of big real estate teams. BEWARE: this does not mean that they will do a lot of advertising for the properties that they have listed, even if all the personalized marketing signs that you have seen all over the city suggest otherwise.
Most of these ‘big ego’ agents will justify their decision saying that other agents will promote their listing in the wrong way, that only THEY know how to do it the right way. The result is that they are denying more than thousands of agents the ability to simply copy and paste the advertising that the listing agent created and post it to their personal social media, mass email, newsletters, and other websites actively looking for a buyer for your property.
Always ask the agent that you are going to hire to sell your house if they would allow other agents to advertise your listing and you will know if their ego is bigger than their true desire to sell your house for more money.
At the end it is your decision, find an agent that is fully invested in YOU and your PROPERTY, not just themselves.