Selling your home or investment property?
Perhaps it’s been a while since you last did this and you no longer have a working relationship with a realtor, so you need to find another one. No doubt you will interview 2 or 3 Realtors. I have made a Top Ten list of questions to ask a seller’s agent.
1. How long have you been a realtor? Though a new realtor can do a wonderful job, those who have been in the business for more than 10 years will bring to the table more practical experience. Experienced realtors will have worked in many different types of markets and will have knowledge of how to adjust their marketing plan accordingly and give you advice relevant to current market conditions.
2. What is your list to sales price ratio? A competent listing realtor should hold a track record for negotiating sales prices that are very close to list prices. How many listings do you carry?
3. How will your marketing plan meet my needs? Specifically, how will you sell my home? Where and how often do you advertise? Will you show me a sample flier? What is your online marketing plan?
4. Will you provide references? Ask if any of the references are related to the realtor. Can you call their references with additional questions.
5. What separates you from the competition? Key phrases to listen to: assertiveness, easily reachable by cell or email, analytical, able to retain a sense of humour under pressure, lives/works in the neighbourhood, delivers the same service to other Realtors that they deliver to the public. Do you provide me with neighbourhood stats and overall market stats and give an opinion on market direction?
6.May I review documents that I will be asked to sign? Does the realtor bring all the necessary documentation to the interview and review them with you? Law of Agency, Listing Agreement, Seller Disclosure.
7. Will you help me find other Professionals? A good realtor should have a newtwork of other Professionals that will assist in ensuring the transaction goes smoothly. Ask if the realtor receives compensation from the vendors.
8. What kind of guarantee do you offer? If you sign a listing agreement with the realtor and they do not meet their commitment, or you are unhappy with the arrangement, will they cancel the agreement? If so, are there conditions?
9. How much do you charge? All real estate fees are negotiable but keep in mind that you get what you pay for in life!
10.What haven’t I asked you that I need to know? Pay close attention to how the question is answered as there is always something you need to know….open houses/answering phone calls in a timely manner/handling last minute appointment requests/showing the property themselves vs. an assistant or key pickup/their reputation with other Realtors
Have you sold a property lately? If so, did you deal with the same realtor as before? Did you seek a second opinion and if you did, did you still hire your former realtor? Why? If not, why not? Did you ask any of the above questions? What other questions did you ask?
When i am interviewed by potential sellers, I ask them what are they looking for in a realtor? A large number of them say “ someone i can trust, who knows my specific neighbourhood well, has a successful marketing plan that can get me the highest price.”
Jennifer Klaussen, a realtor in Arlington who writes a blog called the arlingtondirt, makes 10 other suggestions including ethics, education, communication and humour.
Would you add anything to the two above lists?
{ 1 comment… read it below or add one }
It is also a good idea in this market to ask if they have worked on short sales. It seems the lower valued homes on the MLS are mostly short sales and it helps to have an agent who knows the ropes.
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