Hiring An Agent
If you are planning on selling or buying a home in the near future, you have likely begun considering which real estate agent to hire. You have probably started to notice, and pay more attention to, various advertisements for agents around your city or town. If you are feeling overwhelmed or nervous about who to hire, that is perfectly natural. Remember, the agent that represents you could cost, or save, you thousands of dollars. The successful sale or purchase of a home rests on the shoulders of the agent you hire.
With these concerns in mind, before you hire an agent, it is strongly advised that you consider this special industry insider’s report found below, titled, “What to Ask a Potential Agent: 10 Important Questions”. Treat the search for an agent much like you would the search for the right employee, and view your interviews with potential agents much like a job interview. Using these questions as a guide will help you choose the agent who will represent you best.
Not all real estate agents are alike. Before you decide on hiring a professional to help you buy or sell your home, do some research to make sure the person is right for you.
Keep in mind an agent can save, or cost, you thousands of dollars. A home purchase or sale is a critical milestone in a person’s life. There are important questions you must ask the real estate agent to ensure that he or she best represents your specific needs. Considering their answers to these important questions outlined below will do much to foreshadow the outcome of your sale.
View hiring an agent much like any other kind of hiring process. Remember that you are the boss and like any employer, your goal is to find a candidate that will make the right decisions. Specifically, you want to find someone who will respect that buying or selling your home likely represents your largest investment.
10 IMPORTANT QUESTIONS:
How are you different from other agents?
What reasons do I have for working with you?
The real estate market has become much more difficult than it was even a decade ago. To make sure your home shines among the competition, your real estate agent should come to the table with innovative and unique marketing plans. Find out what one agent offers that others do not. The objective, of course, is to sell your property for top dollar, as quickly as possible, and with the least complications and inconvenience.
What is your company’s reputation in the market and do you have an excellent track record?
It seems that every real estate agent has boasted about being the best, or being #1 in some category or another. Many agents also boast about how many homes they have successfully sold. You likely have become immune to a great deal of this kind of information. Indeed, you might question the importance of these claims. For example, you might not care how many homes an agent has sold and might be more interested in whether the homes were sold quickly and for a good price.
However, it is important to know how many homes an agent has sold. Success in real estate is determined by being able to sell properties. If one agent has sold many more homes than another, it is wise to enquire as to why. What are the two agents doing differently to produce such different results?
You might not know this, but some agents sell fewer than ten homes per year. A low volume of sales can make it difficult for an agent to do aggressive marketing for your home. Indeed, high profile marketing with full impact can be costly and an agent with a low volume of sale may not have the funds to provide such an effective and impressive marketing campaign. Further, an agent with a low volume of sales likely does not have an assistant and thus their time is consumed by completing all tasks associated with real estate so the service they provide to you may suffer.
What marketing plans do you have for my home?
Find out how much money this agent plans to spend marketing your property. What media will he or she use and what research has been done by the agent regarding the effectiveness of various media?
Has your company sold properties in my area?
An agent should provide you a complete list of their own and other comparable sales in your area.
Who controls your advertising: you or your broker?
If an agent is not in control of advertising their listings then homes they are listing will compete with each other as well as homes listed by other agents in the same company.
How close to the asking price do you typically sell a home for?
The real estate board can provide the information to answer this question. Compare the agent’s performance with the board average. The performance of an agent on this board will help you determine if your home is likely to sell close to the asking price or not.
How long does it usually take to sell a listing?
Much like question six, comparing the agent’s performance to the board average is a great indicator of how long your listing might sit on the market if you hire him or her.
How many buyers are you working with right now?
Your home has a better chance of selling if your agent works with a number of buyers. Indeed, numerous buyers are often beneficial in terms of selling price as well. If more than one buyer wants to purchase your home, an auction-like setting can be created when numerous buyers bid at the same time. If so, you may sell your home for an even higher price than your asking price. Ask your agent what specific system they will employ to attracting buyers to your listing.
Could I have a reference list of clients I can contact?
Require to see the list and be sure to spot check some of the names.
Am I free to cancel my listing contract if I am unhappy with your progress selling my home?
Be wary of an agent that devises a lengthy contract that you are unable to be leave. An agent can always “leave” a contract by neglecting to effectively market your home. You should be aware that there are penalties and broker protection periods devised in the interest of agents, but not clients. Find out how confident the agent is in the service he or she will provide you. If you are unsatisfied, will he or she permit you to cancel your contract, penalty-free?
Ask you potential agent(s) these ten questions and evaluate their responses. Use their responses to determine who will do the best job for you.
Please feel free to contact me, Doug Blackstock, if you have any questions about the home buying or selling process. I would be happy to answer these ten, or any other, questions you might have. I offer you my honesty, integrity and hard work as an experienced sales representative, please feel free to contact me.