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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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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!
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