Its critical that you make the right decision about who will handle what is probably the single largest financial investment you will ever make.
Not all real estate agents are the same. The wrong agent can cost you thousands of dollars!
Picking an agent is one of those critical issues that can cost or save you thousands of dollars. There are very specific questions you should be asking to ensure that you get the best representation for your needs. Many agents may prefer that you don't ask these questions, since the knowledge you'll gain from their honest answers will give you a very good idea about what outcome you can expect from using them as an agent. And lets face it - in real estate, as in life - not all things are created equal. Hiring a real estate agent is just like any hiring process - with you on the bosses side of the desk. Its critical that you make the right decision about who will handle probably the single largest financial investment you will ever make.
1. What makes you different? Why should I hire you to market and sell my home?
Agent should be brief, 60 seconds or less,be specific and be very convincing. Be wary of Agents who struggle to sell their services, or articulate the value they provide for the fee they charge. These agents will also have a serious challenge when it's time to sell your home, articulate the value your home provides and to fight for your equity during negotiations. It's always best to judge their skills when your money isn't on the line.
2. How many Buyers are you currently working with?
Do you have so many leads, that you have a team of agents built to serve these Buyers?
How many in my home's price range?______
What is your personal website address?
How many Internet leads per day?
Obviously, the more Buyers your agent is working with, the better your chances are of selling your home quickly. It will also impact price because an agent with many buyers can set up an auction-like atmosphere where many buyers bid on your home at the same time. Ask them to describe the system they have for attracting buyers.
3. Do you have a specific plan of marketing activities and dates for my home?
If it's not in writing how will you remember or enforce these agents "promises". Is the Agent all talk or action?
4. Who controls the marketing dollars spent to promote my home, your Broker or you?
If our agent is not in control of their own advertising, then your home will be competing for advertising space not only with this agents other listings, but also with the listings of every other agent in the brokerage. At over 80% of all companies the Marketing Departments and Office managers, not your Agent pick and choose based on budget concerns and your home's price range, what will be advertised in a given week.
5. Who receives the incoming calls on my home, everyone in your office or you specifically?
In most companies all the agents in the office take turns answering the phones on all company listings. With around 50-100 listings per office most agents fielding calls will be reading off a computer printout, trying to convince a Buyer to buy a home they not only no very little about, but one they haven't even been inside.
6. With over 73% of Buyers looking for a home on the Internet, do you still focus primarily on print advertising or do have an Internet marketing plan to help us sell our home?
The average real estate firm spend 4% of their entire marketing budget on online marketing. Trying to market homes the old fashioned way in 2007 leaves a lot of YOUR money on the table by not getting full market exposure or full market value for your home.
8. How will you communicate with us while the home is for sale and when the home goes under contract?
Most agents are like politicians. They look good, sound good, say all the right things and promise the right things "highest sales price, short time on market, no hassles". Just like politicians, once they have the job you can't find them, they give lots of excuses, blame others for lack of results and remind you how time you agreed to work with them without the opportunity to fire them for their lack of effort and performance.
8. Do you have a reference list of clients I could contact?
Ask to see this list, and then proceed to spot check some of the names. No references and phone numbers.Not sign of an organized, professional who has reputation for excellence. Only five or six references, not a good sign either.
9. What happens if I'm not happy with the job you are doing to get my home sold:
Can I cancel my contract without paying any fees, if I'm not satisfied with your service?
These are all questions that I suggest all my sellers to ask of all agent including myself. I suggest that if they are interviewing other agent to propose these questions to all the agents being interviewed. It will tell you a lot about the professional that you are hiring to sell your home. For additional insight on this topic feel free to contact me directly.
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