How Can A Real Estate Agent Help Me Sell My House?
Selling a house is a complicated and emotional process. A Real Estate
Professional can help you separate the facts from the emotions, and negotiate
the best deal and the best contract. Remember the Real Estate Agent works
for you, and you have a right to interview the Agent. You may want to
interview as many as three Agents before deciding which one best suits your
needs and will provide the level of service that will work for you.
10 Questions to Ask Your Realtor About Selling a House
- Are you a full-time professional real estate agent? How long have you worked
full time in real estate? How long have you been representing Sellers? What
professional designations do you have?
Knowing whether or not your agent
practices full time can help you determine potential scheduling conflicts and
his or her commitment to your transaction. As with any profession, the number of
years a person has been in the business does not necessarily reflect the level
of service you can expect, but it is a good starting point for your discussion.
The same issue can apply to professional designations.
- Do you have a personal assistant, team or staff to handle different parts of the
purchase? What are their names and how will each of them help me in my
transaction? How do I communicate with them?
It is not uncommon for
agents who sell a lot of houses to hire people to work with them. As their
businesses grow, they must be able to deliver the same or higher quality service
to more people.
You may want to know who on the team will take part in your
transaction, and what role each person will play. You may even want to meet the
other team members before you decide to work with the team. If you have a
question about fees on your closing statement, who would handle that? Who will
show up to your closing?
- Do you have a Website that will list my home? Can I have your URL address? Who
responds to emails and how quickly? What's your email address?
Many
buyers prefer to search online for homes because it's available 24 hours a day
and can be done at home. So you want to make sure your home is listed online,
either on the agent's Website or on their company's site. By searching your
agent's Website you will get a clear picture of how much information is
available online.
- How will you keep in contact with me during the selling process, and how
often?
Some agents may email, fax or call you daily to tell you that
visitors have toured your home, while others will keep in touch weekly. Asking
this question can help you to reconcile your needs with your agent's systems.
- What do you do that other agents don't that ensures I'm getting top dollar for
my home? What is your average market time versus other agents' average market
time?
Marketing skills are learned, and sometimes a real estate
professional's unique method of research and delivery make the difference
between whether or not a home sells quickly. For example, an agent might
research the demographics of your neighborhood and present you a target market
list for direct marketing purposes.
- Will you give me names of past clients?
Interviewing an agent can be
similar to interviewing someone to work in your office. Contacting references
can be a reliable way for you to understand how he or she works, and whether or
not this style is compatible with your own.
- Do you have a performance guarantee? If I am not satisfied with your
performance, can I terminate our listing agreement?
In the heavily
regulated world of real estate, it can be difficult for an agent to offer a
performance guarantee. If your agent does not have a guarantee, it does not mean
they are not committed to high standards. Typically, he or she will verbally
outline what you can expect from their performance. Prudential Realty
understands the importance of win-win business relationships: the agent does not
benefit if the client does not also benefit.
- How will you get paid? How are your fees structured? May I have that in
writing?
In many areas, the seller pays all agent commissions. Sometimes,
agents will have other small fees, such as administrative or special service
fees, that are charged to clients, regardless of whether they are buying or
selling. Be aware of the big picture before you sign any agreements. Ask for an
estimate of costs from any agent you contemplate employing.
- How would you develop pricing strategies for our home?
Although location
and condition affect the selling process, price is the primary factor in
determining if a home sells quickly, or at all. Access to current property
information is essential, and sometimes a pre-appraisal will help. Ask your
agent how they created the market analysis, and whether your agent included For
Sale by Owner homes, foreclosed homes and bank-owned sales in that list.
- What will you do to sell my home? Who determines where and when my home is
marketed/ promoted? Who pays for your advertising?
Ask your real estate
agent to present to you a clear plan of how marketing and advertising dollars
will be spent. If there are other forms of marketing available but not specified
in the plan ask who pays for those. Request samples or case studies of the types
of marketing strategies that your agent proposes (such as Internet Websites,
print magazines, open houses, and local publications).
Additional Questions to Ask Your Realtor About Short Sales
When you are contemplating a Short Sale, the experience and expertise of your agent becomes even more important. Look at these postings to understand why. Below, I will give you a few questions to ask the agents you interview. I cannot give you the answers without giving an advantage to my competition, but contact me after you have interviewed them and I will happily give you my answers to be evaluated with theirs.
- What does an Agent need to do between submitting the Short Sale package and receiving the Lender’s Acceptance Letter?
- What stipulations does the agent put into the contract to protect the Seller?
- After submitting an agreement with a Short Sale package to the Lender, another (better) offer is made by another buyer. Can the second offer be accepted?
I would be happy to sit down with you in your home, and answer all these
questions with you - as well as any others you may have. Just email
me for an appointment.