How Much is your Property Worth? How Much is your Property Worth?

Why You Shouldn’t Sell Using Multiple Real Estate Agents

As a seller, you want as many potential buyers seeing your house. But creating competitive tension through a catch-all approach, with multiple agents, isn’t the solution. 

In the multiple-agents scenario, the goal is selling a house – rather than advocating to secure it for the highest price. The loudest agent wins. The seller loses out. This is exactly what we want to avoid, not encourage. 

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What is multiple agency agreement? 

Under a multiple-listing agreement, you have two real estate agents (or more) for one property all vying for your business. You’re putting the house on the market with every agent and whoever sells it gets the commission. The others get nothing. This model relies on a multi-listing network. 

While this wider reach might sound good in theory, it doesn’t pay attention to the sale price. The multiple estate agents make little or no effort to present your home in the best light, tell its unique story, and help buyers make the right decision. This creates a somewhat sleazy, predatory selling environment that doesn’t best serve the buyer or seller, only the agent. 

The pros & cons of listing with multiple real estate agents 

Is it legal? Sure. But ethical? No, we don’t believe so. Especially in the current real estate market, where the speed of the sale isn’t a problem. 

Every seller deserves an experienced, loyal real estate agent who cares about them and will work hard to secure the highest buyer. This means not leaving thousands of your profit (and hard-earned equity) on the table. 

It’s the money that can cushion your retirement or resources you can funnel into your next home or your child’s first property. It’s more than just ‘money.’ It’s your future security, too. 

If you want or need to sell your house fast, then sure, engaging more than one real estate agent can be useful. But the disadvantages far outweigh the benefits. 

With multiple listing, buyers can choose which agent they go through to view your house. Agents lure in potential buyers using your money as the negotiation tool. This leads to shallow promises, confusion and unhappy buyers and sellers. 

Let’s say one buyer asks agent #1 if there’s wiggle room on the price. The agent says, â€"maybe $10,000.” That same buyer calls agent #2 and asks the same question. Agent #2 replies, â€"I know they want to sell, so I can try for $15,000 off.” That buyer will go with agent #2. And they have to deliver on that promise, which leads to desperation. Who loses out? The seller, by $15,000. Serious buyers will always speak to more than one agent, in the multiple-agency environment. 

Numerous real estate agents cause fragmentation and no real focus. The sale is the prize, not the sale price. Agents also tend to care more about the more exclusive listings that guarantee a commission. With an open listing for a normal family home, agents don’t get paid unless they sell it.  

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There’s a better way to sell your home 

This isn’t a race. You’re much better off choosing one agent who dedicates all their efforts to selling your property at the highest possible price. This is a place you’ve likely lived or owned for years, decades even. Wouldn’t you rather it goes to a buyer who really wants it, not just the first offer? 

With Agent Select, you can have it all: an experienced agent who believes in the potential of your house, who can secure the highest possible sale price, and within a suitable timeframe (especially in this market). 

It’s a win for you, the agent, and the buyer. 

Agent Select is a free, independent service that helps homeowners select the best performing real estate agent and negotiate the most desirable terms to sell their property, anywhere in Australia. 

Using our sophisticated algorithm, we find the top three performing real estate agents in your local area. Rather than inundating you with dozens of calls from agents hungry for a commission – like other comparative websites – we only connect you with the best agents, then guide you through the whole process. This is empowered selling. 

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