Ten
Questions You Must Ask a Realtor
Before You List or....You Could Lose
Big!
Most of us sell only a small number
of homes in our lifetimes. With
limited experience in real estate
how are we to be capable of
maximizing the profits from our home
sale? Many home sellers make the
critical mistake of thinking all
Realtors are the same. They list
with the first agent who comes
along. Does it make good business
sense to put the responsibility of
selling your home with someone who
has no plan or qualifications? This
special report will educate you with
valuable information that will help you make the best decision
concerning: Which real estate
agent should you list with?
Start by doing a few hours of
research. Ask around... get to know
who has the most signs, ads and
marketing material in your
neighborhood. Who’s the most active
agent? Compile a list of agent names
and use these questions to help you
determine which agent is right for
you.
- Could you send me some
information about yourself?
- You can often get a good idea
of which agents are the most
professional by looking at their
promotional materials. If their
own materials aren’t
professional, how well are they
going to market your home? Track
how long each agent takes to
respond to your request and how
quickly they follow up. If they
don’t respond efficiently to
your listing requests imagine
how they’ll handle potential
home buyers.
- How many homes have you
listed and how many homes have
you sold in the last six months?
- Look for an agent who has
experience with homes similar to
yours and is active in your
area. If your home has special
features look for an agent with
experience in those areas. Your
agent should have a good record
of selling homes, not just
listing them. After all, this is
your ultimate goal.
- What is your average
length of time from listed to
sold? - Don’t automatically
assume the shorter time on the
market the better. That could
reflect selling homes quickly at
lowball prices. Look at what the
asking price was compared to the
selling price. An agent who
sells close to the asking price
and quick is effective at
helping clients determine the
right price and helping them get
it.
- How long have you been in
business and what professional
organizations do you belong to?
- The length of time a real
estate agent has been licensed
is not a sure fire sign that
they’ve been an active seller.
They may have been in business
for 10 years but only part time,
whereas an agent who’s been in
business for 2 years may be a
real top producer. So take into
account what professional
organizations they belong to.
The minimum should be a licensed
professional who’s a member of
the local real estate board and
multiple listing service as well
as the state and National
Association of Realtors. Local
community groups and
associations are also pluses in
terms of networking and
commitment.
- Do you have an assistant
or support staff? - By
employing someone to handle the
details of their business the
agent can spend more time
servicing your needs. However,
make sure you know how much time
an agent will spend and how much
time their assistant will spend
on the sale of your home. It may
be fine if the assistant does
most of the legwork as long as
the agent is there at the most
critical times of the
transaction period.
- How often will you hold
open houses? Will they be
public or by appointment only? -
Simply putting a sign on your
lawn and holding open houses
every Sunday will not sell your
home. Too frequently open houses
make the property a target for
low ball bidders. Look for an
agent with a specific plan for
each open house. The plan should
be just one facet of a complete
marketing plan.
- What listing price do you
recommend and what is that price
based on? - Pricing is the
most critical step to selling
your home. Take great care in
choosing an agent with the
knowledge to price your home
effectively. Keep in mind the
selling price should attract
prospective buyers to your home,
get you top dollar in the
current market and reflect the
condition of your home. Be
realistic and avoid ‘yes
agents’, who will say ‘yes’ to
any request or price while your
home languishes on the market.
Lowball agents will try to talk
you into an artificial price
simply to sell as fast as
possible.
- What does the listing
agreement entail, what are the
beginning and expiration dates,
and what are the fee amounts I
will be paying? - Have your
agent go over every detail in
the listing agreement with you
until you understand it
completely. Make sure the
beginning and ending dates are
on the agreement; a good
standard for length is three
months. Know exactly what fees
you will be paying and remember
that less is not always better.
If the agent stands to make very
little commission you can bet it
will be reflected in the amount
of time and effort that is spent
marketing your home. If the
agent reduces their commission
to get the listing it may mean
they intend to spend very little
money promoting the property.
The normal commission is between
5 and 7 percent.
- What disclosure laws
apply to me and what do I need
to be aware of? - Make sure
your agent helps you with
locating professional inspectors
for the various mandatory home
inspections required in your
area. Create a home marketing
file including a property fact
sheet, a property transfer
disclosure statement, pest
control report, applicable C.C.&
R’s , applicable study zones
report, structural engineering
report, property profile from
the title company, plans for
alterations or additions, and
special equipment report for
pools, spas, sprinklers and
alarm systems. Your agent should
be able to handle this for you.
- What types of things
separate you from your
competition and will you give me
some feedback? - How
effectively will they advertise?
Do they have 24-hour advertising
capability? Will all the leads
be followed up on by your
agent’s team or will they go to
other agents who may have other
listings they would prefer to
show? Agents who are innovative
and offer new methods of
attracting home buyers will
measurably outperform agents who
rely on methods of the past.
Marketing effectively in the
90’s and beyond requires
progressive strategies that add
value and service for both
buyers and sellers!
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