Real Estate is one of the most flooded industries in the world. Chances are your area has tens of thousands of agents happy to “sell” your house for you. Unfortunately, all real estate agents are not created equal. For instance, far too many agents want you to sign their contract with hopes that simply listing your property on the MLS will flood their inbox with inquires from interested buyers searching the MLS inventory from their home, office, cellphones etc. This article lays out the top most important questions to ask your Realtor and avoid “sitting” time (most Seller’s contracts are 6-month contracts), and your home turning into an expired listing.
- How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
- How many homes do you sell each year?By asking this question, you’ll get a good idea of how much experience the practitioner has.
- How many days does it take you to sell the average home? How does that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
- Do you have a mobile-adaptable website? Most people now search MLS inventory via cell-phones, iPads and other mobile devices. If your agent has an in-house marketing team, make sure they have an adaptable website.
- How close were the final sale prices of the homes you sold to the initial asking prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
- What types of specific marketing systems and approaches will you use to sell my home?You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
- Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction?While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
- Can you recommend service providers who can help me obtain a mortgage, make home repairs, and assist with other tasks?Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
- What type of support and supervision does your brokerage provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
- How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, text, or an in-person visit?
- Could you please give me the names and phone numbers of your three most recent clients?Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.
