September 15, 2013 |
By Sanette Tanaka / Wall Street Journal
According to Bennie Waller, professor of finance and real estate at Longwood University in Farmville , VA experienced agents sell homes for an average of 12% more than their less experienced counterparts. They also tend to list more new properties.
“The more experience you have, the more likely you are to sell the properties that you list, the more likely you are to sell it at a higher price and the less time it stays on the market,” Prof. Waller says.
While the study reflects a national trend , the same phenomena is even more pronounced in the Tenafly and Bergen County markets.
Experienced agents possess a deeper more intimate knowledge of the marketplace, they have more extensive relationships with both sellers and buyers, they are better equipped to properly price their listings and lastly have better negotiating skills resulting in faster sales for higher prices.