Most of us sell only a small number of homes in our lifetimes. With limited experience in real estate, how are we capable of maximizing the profits from our home sale? Many home sellers make the critical mistake of thinking all Realtors are the same and 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 the following 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 how professional agents are by their self-promotion materials. If their own materials aren’t professional, think of how they’ll market your home. What’s more important, though, is to track how quickly each agent responds to your request and follows up. If their response to your listing request is slow, imagine how slow their response time will seem to potential home buyers.
2. How many homes did you list and sell in the last 12 months? Look for an agent who has a good record of selling homes, not just listing them, since selling your home is your ultimate goal. Also, try to compare yearly stats: if the agent’s number is steadily improving, it usually means his or her systems are, too.
3. What is your average length of time from list to sale? Don’t automatically assume that less time on the market is better. That could reflect selling homes quickly at low ball prices. Compare the asking price to the selling price. An agent who sells quickly and close to the asking price is effective at helping clients determine and get the right price. Please supply proof of your average listing price vs. your average price of sale. Many agents will overprice listings just to win the contract-and then the house sits on the market for months because of its sloppy pricing.
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 they been an active seller. They may have been in business for 10 years but only part-time, whereas an agent who’s been in the business for 2 years may be a top producer. So take into account the total number of homes sold each year and membership in professional organizations and advanced training “degrees” in real estate. The minimum should be a licensed professional who’s a member of the real estate board and multiple listing service as well as the state and National Associations of Realtors. Community groups and associations are also pluses for networking and commitment.
5. Do you have an assistant or support staff? By employing an assistant to handle the details, the agent can spend more time serving your needs. However, make sure you understand how much time the agent will spend on the sale of your home. It may be fine for the assistant to spend more time than the agent, doing most of the leg work, as long as the agent is available at the most critical times in the transaction.
6. How often will you hold open houses and 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, innovative plan that goes beyond the traditional open house. The open house 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 that 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. Low-ball agents will try to talk you into a price simply to sell as fast as possible.
8. What does the listing agreement entail? What are the beginning and expiration dates? What fee amounts will I pay? Have your agent go over every detail in the listing agreement until you understand it completely. Make sure the beginning and ending dates are on the agreement (standard length is three to four months). Know exactly what fees you will pay, and remember, 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 his commission to get the listing it may mean he intends to spend very little money promoting the property.
9. What disclosure laws apply to me? Make sure your agent helps you with locating professional inspectors for various home inspections required in your area. Create a home marketing file including a property transfer disclosure statement, pest control report, applicable CC&Rs, 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 separates you from the 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 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. To market effectively in the 90s and beyond requires progressive strategies that add value and service for both buyers and sellers!
We sincerely hope these tips and ideas are of value to you. If there is any way i can be of service, please contact us...we would consider it a privilege to be of service to you! If you would like a FREE computerized market evaluation, complete the form by clicking the home evaluation form on our home page. We can forward it to a professional in you area.
We refer to Agents with professional degrees from our membership. If you are located outside of our member’s areas, we will find you a professional with excellent credentials |
