I have spoken before about how important it is to have background sales data on EVERY local agent.
Whether it be to check out their current listings to see how well (or poorly) they market the property, or to see their PAST performance.
Now we made it easier to see this data.
WHERE: The data is shown in the middle of every listing where we show the agent's name and number.
The first link will show you the agent's current listings that are both ACTIVE and Under Contract (the UC have a line through them).
Then we show the past performance. You can look at "All Sold Deals" which will show every deal they have done since 2005 regardless of whether they were a Listing Agent or a Buyer's Agent. Here you can see how many deals they have done, and how many are short sales or foreclosures. This high level view can also tell you if that "short sale expert" really is an expert.
Then you can see the agent's track record in their capacity exclusively as a Listing Agent. Both since 2005 or since 2009. I broke this up because the market has changed so much and I prefer only seeing the most recent data.
When you see the sold data don't miss how the bottom of the spreadsheet will show you an AVERAGE of the agent's performance. Average days on the market, average sold price and my favorite is the Average %OL, which is Percentage of Original List (which is more important than %L, which is the % drop from the last list price after previous price drops).
I also like to sort by %OL to see how many times an agent has gone over list (crucial data for predicting if a current new listing might sell for over list or to call the agent's bluff when they say "this will sell fast and probably over list," and your buyer's agent can respond "Not likely, FranklyMLS says you did 100 listings and only 2 went over list, so that is just a 2% chance")
Disclaimer: I don't really believe in averages. Instead I believe in looking at data and getting a feel for trends. Averages are so easy to be sqewed, for example if you have a 1,000 days on the market $5M mansion, your stats will bomb.
Then you can see the agent's track record in their capacity exclusively as a Buyer Agent.
Again be skeptical of averages!! An agent might win a client an amazing $100,000 underpriced bank listing that happens to go over $5,000 list price, or "101% of %OL." That doesn't mean they are worse than an agent that helped a client get a "deal" or "95% of %OL" on a home that is 15% overpriced. Just look for trends.
Shameless plug for Buyer Agents in general: Hum, ok so now there is more data! Great! So some of you will feel MORE empowered to go solo. Others will smartly think "Hum, maybe there actually is some value to a good Realtor. One that knows how to digest this data and work for the seller's best interest."
At the bottom is a linkable example.
Thoughts?
Frank
Creator FranklyMLS.com
Listing Agent: Michael Rosen 703-880-6770 from FranklyRealty.com
Agent's Current Listings: Actives & Under Contracts
Agent's Current Listings: Actives & Under Contracts
Agent's Past Performance: All Sold Deals (why?)
As a Listing Agent: Last 5yrs or 2009+
As a Buyer's Agent: Last 5yrs or 2009+