A recent study published in the Journal of Housing Research showed that veteran agents sell homes for an average of 12% more than their less experienced counterparts. As a “veteran real estate agent” myself, it was not too surprising of a study. All of us started out as rookies and like many other professions, we get savvier with age and experience.
What was a little surprising was that this experience equals about $25,000 for the average house. Some of the factors that contribute to this difference are that veteran agents have better knowledge of the neighborhoods and more advanced networks of appraisers, buyers and sellers. I know that my networks are much more vast than when I started in real estate over 10 years ago.
Also, dealing with consumer behavior becomes more nuanced the longer I practice real estate. Buying a home is an emotional process for many people and navigating the ups and downs has become easier with each transaction. However, I still learn something with each client and that’s what makes the profession so interesting. So if you are thinking of buying or selling a home, the survey says — “Go with a pro!”
Here is the link to the Wall St. Journal article which further details the results of the Longwood University study: http://online.wsj.com/news/articles/SB10001424127887324123004579057500395585922