Finding a REALTOR® to List Your Home
Asking the right questions can help you choose the right REALTOR® to sell your home.
Finding a REALTOR® to look out for your best interests can make the difference between getting a good offer and a great offer. The questions below can set you on the right path for finding your REALTOR®.
1. Are you a disclosed dual agent?This term means the REALTOR® is allowed to act on behalf of both the person selling the home and the buyer. This can be a conflict of interest in that the price and deal may be good for one party but not the other. Hire a REALTOR® who will represent only you. That way, you may avoid some lowball offers.
2. Can you provide me with references?Ask for at least three references from satisfied customers who have sold homes in a similar price range in your area. And don't just get the list -- be sure to call all the names for a chat.
3. What are your professional qualifications?Look for someone who works as a full-time REALTOR® and is a licensed real estate agent. REALTORS® are real estate professionals who belong to the National Association of REALTORS®. They subscribe to a strict code of ethics and are committed to ongoing education in the real estate industry.
4. Are repeat or referral clients a large part of your business?A list of satisfied customers is a sign of success.
5. What's the average length of time the homes you've listed have been on the market?If it takes too long to sell, a house may be overpriced. A reasonable time frame is 90 to 120 days. Beware of agents who might deliberately give high listing prices just to sign new clients.
6. What's the average difference between the asking and the selling price of the homes you list?If the prices are close, the agent did a good job of setting the listing price.
7. How many properties have you listed over the past six months?Look for a REALTOR® who typically lists one or two homes a month.
8. How many of these homes have sold?It's a good idea to choose a REALTOR® that sells all or most of the homes he or she lists.
9. In what areas of my city do you normally work?If you are interested in a particular area, look for someone who knows it well. Such REALTORs® will have expertise in finding just what you want -- they will also have good contacts with other REALTORs® and will be familiar with prices in your region.
10. How much will this cost?Most REALTORs® are paid by commission, often 4 to 6 percent of the selling price and, in most parts of the country, they are paid by the seller. However, there may be other fees and administrative costs, so ask.
11. How will you arrive at a listing price?The REALTOR® will recommend a listing price based on an up-to-date market analysis of your area. This will focus on recently sold homes that are similar in size, style and features to yours. The accuracy of the listing price is important because you can discourage those potential buyers who have higher or lower budgets from seeing it. It's also a good idea to specify in the listing agreement that offers will only be accepted from buyers who have been pre-approved for a loan.
12. Are you my only contact?A team effort may help sell your home because REALTORs® often have more than one client. A REALTOR® with many listings may hire people to handle some of the administrative work, for instance. Nevertheless, your REALTOR® should be the only one to show your home, negotiate the sale and handle the transaction. If your REALTOR® is planning to be away in the near future, make sure you meet and are happy with the REALTOR® who will be filling in during that time.
13. How often will I hear from you?A daily telephone call, fax or e-mail is not unreasonable. Some offices have software that automatically notifies you whenever someone tours your home. Your REALTOR® should let you know about every tour of your home and give you feedback from potential buyers or their agents.
14. What are your sales tactics?There are many strategies for attracting buyers both from your area and from far away. Your REALTOR® should write up a listing of your home, perhaps with a picture, to put on the local and national Multiple Listing Service. The Internet has become very important in marketing real estate. As well, he or she will hold an open house for REALTORs®, a few public open houses on weekends, plus by-appointment tours of your home for prospective buyers. A detailed property fact sheet with specific information about your home and any improvements should also be available.
15. What will the listing agreement cover?Most contracts name the beginning and end dates, and these should be negotiable. Giving a REALTOR® three to six months to sell your home is reasonable. REALTORs® cannot guarantee they will sell your house within a given period of time because the real estate market is often affected by factors outside his or her control.
16. What can I do to boost my selling price?Your REALTOR® should offer advice on what you can do to make your home more attractive to potential buyers. For example, this could mean painting your bright red foyer a more subdued neutral shade, making some minor repairs or clearing out your clutter. Fresh flowers in the living room are also a nice touch, as is the smell of fresh baking in the kitchen.
Remember, the quicker you get your asking price, the sooner you can move on to your new life in your new home.
