New Agent Ace Study Shows California Homeowners In Major Markets Could Sell Their Homes For An Average Of $57,000 More By Using The Right Agent

Free Online Real Estate Agent "Matchmaking" Service Finds Consumers the Best Agent Based on Unbiased Performance Data - Saving Consumers Thousands of Dollars and Days on the Market

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Agent Ace

Aug 01, 2013, 01:00 ET

SANTA MONICA, Calif., Aug. 1, 2013 /PRNewswire/ -- A new study from online real estate technology company Agent Ace (www.agentace.com) reveals that many California home sellers in major markets could see an average of $57,000 more profit by using the highest performing real estate agent relative to their property. Additionally, these consumers could have sold their home an average of 11 days sooner by using a top-performing agent, saving them on additional costs, contingency period risk and open house headaches.

"When you're dealing with the largest financial transaction of your life, an agent's skill and experience have a huge financial impact," said Mazen Fawaz, Agent Ace founder. "Agent Ace measures agent performance by studying sales data. We found indisputable evidence that choosing the right agent translates to significant savings for consumers in both time and money."

In some areas, like Beverly Hills, home sellers stand to gain an astounding $495,670 on average by using a top-performing agent. Those agents tend to sell houses an average of 24 days faster than those homes sold by most agents in the area.

"Some agents vastly outperform their peers in terms of sales strategy, vetting buyers and closing. We see it in the data by measuring days on market and transaction values," added Fawaz. "It's clear that choosing an agent the old way, whether it's through referrals from friends and family, or by responding to an ad, just doesn't make sense. People now have the ability to determine the agent with the highest probability of success relative to their home, and it's completely free."

Agent Ace Study – Highlights:

The Agent Ace study looked at days on the market and sales price data of single family homes in 24 select cities throughout the Bay Area, Los Angeles County and Orange County from December 25, 2012 through June 23, 2013. Agent Ace compared the performance of the top 10 agents for each neighborhood to the performance of every other agent in that same neighborhood.

City:	Average Sale Price:	Average Amount Lost by Not Using a Top-Performing Agent	Average Additional Days on the Market By Not Using a Top-Performing Agent
Anaheim Hills	$703,413	$5,937	2 days
Beverly Hills	$3,254,348	$495,670	24 days
Burbank	$630,591	$11,641	4 days
Chino Hills	$559,362	$17,385	8 days
Culver City	$750,828	$50,621	11 days
Eagle Rock	$511,378	$7,016	10 days
Hollywood Hills	$1,896,355	$50,917	8 days
Huntington Beach	$713,434	$19,413	11 days
Irvine	$1,019,705	$15,153	11 days
La Mirada	$455,770	$25,140	17 days
Long Beach	$480,002	$20,491	9 days
Manhattan Beach	$1,878,464	$31,558	11 days
Marina Del Rey	$912,924	$23,407	11 days
Mission Viejo	$620,153	$23,219	6 days
Pacific Palisades	$3,521,054	$80,280	18 days
Palo Alto	$2,244,952	$33,742	7 days
Pasadena	$845,584	$42,296	10 days
Pomona	$278,223	$15,561	0 days
San Jose	$751,294	$25,574	8 days
San Mateo	$1,037,288	$69,799	12 days
Santa Cruz	$738,114	$18,541	14 days
Santa Monica	$2,468,297	$172,904	9 days
Venice	$1,512,435	$79,993	15 days
Westlake Village	$1,046,882	$35,142	18 days

"With home sales up again, having a top-performing agent representing you is more critical than ever before," said Brian Maser of Maser Condo Sales, a leading Westside agent currently representing an Agent Ace client. "So many deals start – but never finish. That's where having a top agent makes all the difference, since they know how to navigate tricky escrows, do intense amounts of homework to vet qualified buyers, and can make sure the seller isn't just getting a deal – but the best deal possible in the quickest amount of time. Agent Ace's study puts hard numbers to these important aspects of the home sale process and is a real eye-opener to anyone in the market right now."

Agent Ace is a free service that scientifically pinpoints the best agent for a specific real estate transaction by using a patented process to analyze historical home sales. Unlike other services, Agent Ace is completely unbiased, free from agent advertisements and agent profiles that can be edited by the agents themselves. Agent Ace currently services the California market, with plans to expand nationally in the months ahead.

For more information on Agent Ace, please visit www.agentace.com.

About Agent Ace:

Agent Ace connects home buyers and sellers to the highest-performing real estate agent relative to their search. By aggregating and studying historical home sales data, Agent Ace can scientifically pinpoint the most effective agent to sell or buy a home. In 2012, Agent Ace was awarded two patents encompassing the use of hyper-local data to calculate agent performance relative to a home and client preferences. They are headquartered in Santa Monica, Calif.

SOURCE Agent Ace