Several agents will sell my home quicker, right?

More agents equals more buyers, right?

No.  In fact quite the opposite.  

Let me explain:

At any given time there are only a certain and finite number of buyers interested in a specific street or area, in a set price range.

Think of a fish pond.  There are only a set amount of fish in the fish pond available to you. It doesn’t matter how many lines you put in the number will not grow and the more fishermen the less fish for each of them.

In my experience this has a knock on effect, as your position of strength from a negotiation stand point is weakened considerably. The competition has now moved from buyers to agents. Each agent will come running with poor or low offers and try convince you to accept. The agents are all afraid to negotiate and be patient as they have no sense of security and fear that another agent will be there before them.

Let's put the boot on the other foot now. You call in a few agents go through an interview process and select the one that you think best fits with you and your plans. With the knowledge of your commitment they begin a proper marketing process and creating interest in your home. They get a few interested buyers and don’t feel the need to accept any low ball offers. They can negotiate from a position of strength and achieve the best possible outcome for you.

You as a seller have one person to hold accountable for the marketing of your home vs having numerous agents and no accountability.

So whatever your choice, make sure you select one agent and give them all your support!

Author: Christos Nikolaou

BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.

Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “Several agents will sell my home quicker, right?” and is a certified advance negotiator.