Questions To Ask If You Want
To Hire The Right Listing Agent
"It's critical that you make
the right decision about who will handle the sale of
what is probably the single largest financial investment."
Not all real estate agents are the
same. If you decide to seek the help of an agent when
selling or buying a home, you need some good information
before you make any moves.
An agent can cost or save 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 you get the best representation
for your needs. Some agents may prefer that you don't
ask these questions, because the knowledge you'll gain
from their honest answers will give you a very good
idea about what the outcome you can expect from using
this agent. And let's 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. It's critical that
you make the right decision who will handle what is
probably the single largest financial investment you
will ever make.
1. What makes you different?
Why should I list my home with you? - It's a much
tougher real estate market than it was a decade ago.
What unique marketing plans and programs does this agent
have in place to make sure that your home stands out
favorable versus the competition? What things does this
agents offer you that others don't?
2. What is your track record?
What is their background? How long have they been in
business? Full or part time? How much business have
they done? Do they work with more buyers or sellers?
How do they follow up with showings? These are just
some of the questions you need to ask.
3. On average, when your homes
sell, how close is the selling price to the asking price?
- This information is available from the local Real
Estate Board. Is the agent's performance higher or lower
than the board average? Their performance on these measurements
will help you predict how high of price you will get
for the sale of your home.
4. Do you set up your own showing
appointments or do you hire a showing service? When
agents call to show property they need to talk to someone
immediately. Not 1, 2 or 4 hours later. The agent you
choose needs to have someone available at all times
to set up showings. Don't let your buyer purchase another
home because they couldn't see yours.
5. What is your customer service
level? - Don't just ask them about their service,
test them. Call them a few times and see how long it
takes them to respond. Get testimonials from their past
clients.
6. What are your marketing plans
for my home? - Do they do proactive and aggressive
marketing or passive, hopeful selling? How much does
this agent spend in advertising the homes s/he lists
versus the other agents? Is the advertising a billboard
to promote him/her or to get your home sold? What media
(newspapers, magazines, internet, etc.) does this agent
advertise in? What does s/he know about the effectiveness
of one medium over the others?
7. 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.
8. What types of things separate
you from your competition? - Do they have 24 hour
advertising capability? 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 2000's and beyond requires
progressive strategies that add value and service for
both buyers and sellers!
9. Does the agent know the market
statistics or are they just guessing? – Agents need
to know what's going on in the marketplace. GTAR (Greater
Tampa Association of Realtors) and NAR (National Association
of Realtors) have statistics on just about everything,
in order for agents to help sell your home. Agents need
to know where buyers come from (yard signs, internet,
open houses, etc.), what factors influence them to buy
one home over another, pricing factors, number of homes
visited, etc.
10. What happens if I'm not happy
with the job you are doing to get my home sold?
Can I cancel my listing contract? – Be wary of agents
that lock you into a lengthy listing contract which
they can get out of (by ceasing to effectively market
your home) but you can't. There are usually penalties
which safeguard the agent's interest, but not yours.
How confident is your agent in the service s/he will
provide? Will s/he allow you to cancel your contract
without penalty if you're not satisfied with the service
provided?
I would sincerely like to interview
for the job and help you with all your real estate needs.
My extensive knowledge of real estate investing, 1031
exchanges, quality of home construction can save you
thousands of dollars when buying a home and dozens of
hours looking for the wrong home. Please do not hesitate
to give me a call.
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