Here is a 2nd article given to us by Stacey Haluka of Staging Spaces. This article talks about when thinking about hiring a realtor to sell your home, what to look for and questions to ask.
Choosing a Realtor
Having made the difficult decision to sell your home, you now face the daunting task of selecting a realtor and agency. And there are MANY to choose from. Just as you shop around for a vehicle or new home for yourself, you should shop around for the right agency and agent to represent the sale of your home.
We have comprised a list of questions to ask yourself that may aid you in the process.
1. What type of listings does the agency/agent typically list?
2. What is the sales history for the agency/agent?
3. How long have they been in business/been a real estate agent?
4. What particular target market buyer is the agency/agent most successful selling to?
5. What particular target market listing is the agency/agent most successful selling?
6. Is the agency/agent a leader in customer service?
7. If I choose to list with this agency/agent, how long is the contract for and what conditions apply?
8. How does the agency/agent determine asking price? How does the agency/agent handle reducing asking price?
9. How will my property be advertised?
10. How many listings does the agency/agent currently handle? Are they capable of giving my home the attention it requires?
11. Is the agency/agent capable of fielding multiple offers to my best advantage?
12. What is the commission rate?
You may be asking question 12 first, because our first worry is always about the costs involved with selling our home. However if you’ve determined the worthiness of the agency or agent in the first 11 questions, you will have a better idea of the VALUE you are getting for the commission costs.
When searching for a realtor, look for someone with experience and a solid sales track record for your home’s area. A realtor or agency that primarily lists or sells large farming operations may not be the best choice to sell your luxury adult condominium. Likewise, realtors who list and sell vacation homes or resort property may not be the optimal choice to sell your fixer-upper. By selecting a real estate professional who is familiar with the target buyer as well as your location, you will have more accurate listing prices and how your home will show compared to similar properties.
Watch for realtors who list your home for a significantly higher amount as this may be a “listing hook”. They are appealing to you as a seller. Some realtors may then reduce the asking price within a short amount of time to appeal to buyers. This loses the advantage of the buyers who look at your property with the higher price but walk away. They may not come back after the price has been reduced. This applies to staging your home as well.
Pictures should be clear, taken after the home has been staged and take advantage of the best features of your home.
Lastly, if an agency or agent has many listings on the go, they may not have the time to give you and your property the proper attention required. Ensure that you will be informed of inquiries, interest or lack thereof. You are paying a considerable fee, make sure they earn it!