Listings Like Gold to Brokers and Agents
While considering a slowing real estate market and the effect it has on the number of listings held by brokers, The New York Times explains why real estate listings are so highly coveted:
The listing broker is the gatekeeper for the property, able to control viewings and, more important, get a cut of the commission even if another broker brings in the buyer. A listing has marketing and promotional benefits too. The name of the listing broker goes in the ad or on the Web site with the property, meaning potential buyers will start phoning and clicking, making contact with that broker.
Consumers rarely consider the hidden value of a broker’s sign in their front yard. Every time an inquiry is made on the house, the potential buyer will eventually need a listing broker or agent to sell their own home. Additionally, the broker’s yard sign may influence your neighbors when it comes time for them to find a listing broker or agent. That’s a lot of business generated for your broker or agent at an unbeatable price–free!
So Few Properties, So Many Brokers [NY Times]