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Most
of us sell only a few homes in our lifetime. With such limited experience
in real estate, how do you maximize the profits from your home sale?
Many home sellers make the critical mistake of thinking all Realtorsâ
are the same. They list with the first agent who comes along. Does
it make good business sense to put the responsibility of selling
your home with someone who has no plan or qualifications? This report
will give you key fundamental characteristics you should look for
when selecting an agent.
So, where do
you start? By doing a few hours of research. Ask around! Find out
who has the most signs, ads and marketing material in your neighborhood.
Who’s the most active agent? Compile a list of agent names
and use these questions to help determine which agent is right for
you.
Finding the
right real estate agent can make all the difference in the success
or failure of your home sale.
1. Could you
send me some information about yourself? - You can often get a good
idea of which agents are the most professional by looking at their
promotional materials. If the materials aren’t professional
and they can’t market themselves, how are they going to market
your home? Track how long each agent takes to respond to your request
and how quickly they follow up. If they don’t respond efficiently
to your listing requests, imagine how they’ll handle potential
home buyers!
2. How many
homes have you listed and how many homes have you sold in the last
six months? - Look for an agent who has experience with homes similar
to yours and is active in your area. If your home has special features,
look for an agent with experience in those areas. Your agent should
have a good record of selling homes, not just listing them. After
all, this is your ultimate goal.
3. What is
your average length of time from listed to sold? - Don’t automatically
assume the shorter time on the market, the better. That could reflect
undervaluing homes and selling them quickly at “low ball”
prices. Look at the original asking price compared to the actual
selling price. An agent who sells close to the asking price is effective
at determining the right price and helping clients get it.
4. How long
have you been in business and what professional organizations do
you belong to? - The length of time a real estate agent has been
licensed is not a sure-fire sign that they’ve been an active
seller. They may have been in business for 10 years but only part-time,
whereas an agent who’s been in business for 2 years may be
a real top producer. So take into account what professional organizations
they belong to. The minimum should be a licensed professional who’s
a member of the local real estate board and Multiple Listing Service
as well as the state and National Association of Realtors. Local
community groups are also pluses in terms of networking and commitment.
5. 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 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.
6. How often
will you hold open houses? Will they be public or by appointment
only? - Simply putting a sign on your lawn and holding open houses
will not sell your home. Look for an agent with a specific plan
for each open house. The plan should be just one facet of a complete
marketing plan.
7. What listing
price do you recommend and what is it based on? - Pricing is the
most critical step to selling your home. Take great care in choosing
an agent with the knowledge to price your home effectively. Keep
in mind that the selling price should attract prospective buyers
to your home, get you top dollar in the current market and reflect
the condition of your home. Be realistic and avoid: “Yes agents”
who will say ‘yes’ to any request or price. Your home
could languish on the market as a result.
8. How long
is the listing agreement and what are the fees? - Have your agent
go over all the details. Make sure the beginning and ending dates
are on the agreement, a good standard for length is six months.
Know exactly what fees you will be paying, and remember less is
not always better. If the agent stands to make very little commission,
you can bet it will be reflected in the amount of time and effort
that is spent marketing your home. If the agent reduces their commission
to get your listing, it may mean they intend to spend very little
money promoting your property.
9. What disclosure
laws apply to me and what do I need to be aware of? - Make sure
your agent helps you locate professional inspectors for the various
mandatory home inspections required in your area. Create a home
marketing file including a property fact sheet, a property transfer
disclosure statement, pest control report, applicable zone report,
structural engineering report, property profile from the title company,
plans for alterations or additions, and special equipment report
for pools, spas, sprinklers and alarm systems. Your agent should
be able to handle all this for you.
10. What is
your unique advantage over your competition? - How effectively will
they advertise? Do they have 24-hour advertising capability? Will
all the leads be followed up on by your agent’s team or will
they go to other agents who may have other listings they would prefer
to show? Innovative agents offer new methods of attracting home
buyers that will dramatically outperform agents who rely on the
worn out methods of the past. What new strategies will your agent
implement that will bring more value?
My hope with
this report has been to educate you and help you avoid the pitfalls
many home sellers go through. I hope you found the ideas valuable
and if there is ever any way I can be of service to you or anyone
you care about, please contact my office. Your initial consultation
is always completely free of charge and you’re under no obligation
of any kind. We’ll sit down for 15-20 minutes... no high-pressure,
just plain, honest talk about what it’s going to take to achieve
your personal goals. Go ahead, pick up the phone and give me a call.
I’d love to hear from you!
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