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TEN
QUESTIONS YOU MUST ASK A REALTOR BEFORE YOU LIST OR... YOU COULD LOSE
BIG!
Compliments of: Linda Christianson
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.
1. 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.
2. 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.
3. 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.
4. 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.
5.
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.
6.
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.
7.
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.
8.
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.
9.
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.
10.
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!
Ext. # 5068
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