Listing Agent Not Usually Bringing the Buyer

As someone who has been an agent for a number of years, I have always believed this. I decided to conduct a test case and went to the MLS I belong to here in Maryland. My MLS allows me to conduct a search and pull fields of information into an excel format. The search was simple: I used the zip for my hometown of Severna Park, MD and asked for residential properties which had sold going back 365 days. 259 properties came up; I then pulled agent names and identification numbers per transaction being careful to differentiate between Listing and Selling entity.

What I found did not surprise me. 237 of the properties (92%) had sold wherein the Listing Agent did not bring the buyer; Just 22 (8%) had been sold by the Listing Agent…what the industry refers to as an ABH (all by himself/herself). Although I checked just this one zip code, I think it is safe to say that this is what happens in most zip codes most of the time.

Crucial to this process is of course that the agents bringing the buyer know (and can see) what the selling agent commission will be upon closing. How many of these properties the buyer found out about by surfing the net versus their agent doing an MLS search is hard to say, but one thing is for sure…most properties are found on the net because it was in the MLS to begin with.

Vast exposure exists for a property just by virtue of being listed. Agent sites are designed to pull listings from the MLS the agent belongs to and in addition to agent sites, there are many other sites pulling the same information. Could it be that in most cases a seller gains enough exposure to sell their house for the most it will sell for just by listing the house?

This is a question that sellers need to ask themselves…especially given the different listing programs available. Sellers also need to bear in mind that listing agents usually do a lot more than put a property in the MLS. For example, agents can help the seller set the price and negotiate any offers which come their way…but how much is this worth and are there agents who will do this for less than other agents…you bet. There’s some truth to the old saying “houses sell themselves.” Sellers should anticipate that buyers are looking at the market and carefully comparing the seller’s house to the competition. Sellers should also understand that in most cases, their listing agent is not going to bring the buyer.