Realtor.com, Zillow, Trulia and many other real estate websites have some great tips for home sellers who are getting ready to list their home with a real estate agent. These are the Top 11 Questions You Should Ask Before Hiring a Realtor®.
- How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
- What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.
- How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
- How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
- How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
- What types of specific marketing systems and approaches will you use to sell my home? What percent of your commission do you allocate to my homes marketing budget? Will you provide me with a written Marketing Plan to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
- Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
- Can you recommend service providers who can help me obtain a mortgage, make home repairs, assist with home staging, and help with other things I need done? Because REALTORS® are immersed in the industry; they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
- What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
- How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
- Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.
As a former, top Realtor® myself, none of this is surprising, and any agent should be ready, willing and able to answer the questions and provide you with the information both verbally and in writing, but do you know what the Number ONE most important item is on this list? It’s number six!
Even if the response to every other answer is exactly what you are looking for, if your Realtor® doesn’t spend a great deal of time marketing your home, potential home buyers will not even know it exists. Your home will sit on the market and you can be sure, your real estate agent will soon be asking you to reduce the price.
Our Prepare, Package & Promote plan helps home sellers assure that their home is being marketed and promoted the right way! To learn more, call us at 828-246-9303.
Until next time,