From time to time we hear a potential client tell us that they learned from another real estate agent that their company has very high market share- and in comparison Gordon's Downsizing and Estate Services Ltd. Brokerage has a very small market share. The connotation here is that you should list with the company with the big market share- after all- if they’re doing more “business” than anyone else; that must be good news for me- right?
More important for a seller in our view, is the actual success rate. The times an agent is actually successful in meeting their client’s goal of selling the property. The average is about 41% in the Kingston region (Kingston Area Rea Estate Association 2013 sale to listing ratio statistic as of Oct 2, 2013), or to look at it another way a 59% failure rate. Some individual agents do better and poorer of course. Many sellers are in a position where having some certainty around a sale is not important. These are people who have all the time in the world, and if it doesn’t sell, they can just relist later.
For our clients however, uncertainty is typically unhealthy. It adds unnecessary stress, which may contribute to serious health setbacks. Being able to predict their timelines, move in dates where they’ve chosen to move, and how to manage enough time to be sure their extra items can be sold productively, are all important elements in building a complex transaction in a manageable and seamless manner.
Just because the industry considers a 59% failure rate acceptable, we at Gordon’s do not. We believe that people downsizing or settling an estate or dealing with a major move have enough stress in their life and they should expect their real estate company to build a smooth predictable experience. Because we have never accepted or personally experienced a double-digit failure rate, we uniquely deliver on our high level of commitment every day for our clients. The truth is that the real estate piece of delivering our clients a smooth transition is not the most difficult part of what we do.
Thinking back to the market share comments; which would be more important to you; a company that statistically fails more often than anyone else in the marketplace, or the company that consistently delivers on their client’s expectations?