Hiring a Real Estate agent to sell your home should be a task done slowly and with proper planning. Years ago, my father said you can hire an experienced agent for the same amount you can hire a new agent right out of the classroom. That’s a wonderful thing. Having been a Realtor for over 18 years, I have had the opportunity to see the highs and lows of real estate. From the flat markets, to the rise and eventual crashes. One of the biggest lessons learned over those 18 years would have to be that buying and selling Real Estate is a business like everything else. We have all heard the statistic that 80% of sales is done by 20% of the people. Did you know that in Real Estate it is 94% to 6%? With that statistic in mind, taking the time to hire the right agent could mean the difference between your home selling within 60 days or 6 months.
Below are 11 questions worth asking your potential real estate professional when it’s time to sell.
1. How long have you been in Real Estate?
While being in business for 10 years doesn’t necessarily make them a superstar, it will give you an idea that they have some experience in changing markets and some success.
2. Are you a full-time agent?
You may be surprised at how many agents can’t be reached between 9:00-5:00 pm.
3. How many home sales were you involved in last year?
Are they more of a buyer’s agent or a listing agent? If you want to sell your home, a listing agent will have more systems and marketing in place.
4. What was the average ratio between the listing price and the selling price?
“Buying a listing” is a common practice is this industry. Be sure the agent can give you specific reason why your home should be priced at any amount.
5. Do you have an administrative assistant or any back office support?
Remember, buying and selling is a business. Real Estate has a lot of details attached to it. One person cannot do everything involved in a transaction and still grow their business.
6. Will you provide me your Marketing Plan?
If it isn’t on paper, it isn’t a plan. You can actually see the Marketing Plan implemented when the home goes on the market. From websites, to postcards, to people actually driving by the home.
7. How do you handle showings?
If you plan on living in the home until it sells, this is important.
8. How will you communicate with me?
Statistics show the biggest complaint consumers have with real estate agents is the lack of communication. Instead of asking how the agent will communicate with you, tell the agent how you would like communications to be handled. You’re the consumer.
9. If I have a question or concern, who do I call?
Again, I go back to Real Estate is a business. If you are relying on one person to handle everything, your decision is even more important. While your point of contact should be the agent, a support staff is vital.
10. What is your commission to sell my home?
Never pay an upfront fee. Only pay when an agent produces. If an agent doesn’t convince you that the services they will be providing is worth the commission, then they are not much of a sales person. Remember, the person that is trying to sell you on hiring them is the same person who will be negotiating the sale of your home!
11. If I’m not satisfied with your service, will you allow me to cancel the agreement?
If the answer isn’t yes, keep looking.
If you are interested in selling your home and have questions about the process, feel free to give 4th Avenue Property Management a call. We have been selling, managing, and buying homes in the Gwinnett County area for more than 18 years.