A One And A Two: Using Co-Listing Agents For Hard-To-Sell Properties
If you've got a house, parcel of land, or other property that isn't getting a lot of attention from potential buyers, you may hear people tell you to co-list the home. Co-listing is when two real estate agents list the home and show it to people instead of just one; the co-listing is done by agreement between the two agents. This can be helpful or not depending on how you want your property sale to proceed.
Fees
You'll have to discuss fees with the agents in detail. Normally, an agent gets a fee when you sell your house, and if you co-list, you might end up paying bigger fees. In other words, the two agents might not split one fee.
Administrative Attention
With one agent listing the property, you have to deal with ony one person and only one company. With co-listing, that doubles, and you have to ensure that both agents are coordinating things like showings, open houses, and so on so that you're not dealing with dueling agents demanding that one of them get better showing times. At the same time, if you get two agents working together who have co-listed before successfully, that could be such a seamless partnership that you don't really notice any difference from having just one agent list the property.
Potential Audience
Two agents co-listing a property gets you more potential buyers and more exposure, end of story (as long as the agents know what they're doing). One agent, even a successful, busy one, likely will not be handling all of the buyers looking in your area. If you really want people to know about your property for sale, co-listing is a good thing.
Conflicting Advice
You've got to be sure your two agents can communicate and work together; otherwise, you might be looking at a bunch of conflicting advice. Good real estate agents, even those who have never co-listed before, should work out a strategy together so that you know what to do in terms of staging a home, if that's what is for sale, or what to do in terms of getting surveys done for empty land.
Co-listing can be a valuable asset when trying to sell a property that is not getting a lot of attention. Contact agents in your area and see if there are pairs who have worked together before or who are willing to co-list and cooperate.
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