Sellers: 10 questions to ask your Realtor
1. Are you a full-time professional real estate agent? How long have you worked full time in real estate? How long have you been representing buyers?
Knowing whether or not your agent practices full time can help you determine potential scheduling conflicts and his or her commitment to your transaction. As with any profession, the number of years a person has been in the business does not necessarily reflect the level of service you can expect, but it is a good starting point for your discussion. Remember, markets vary greatly even within the boundaries of a particular city and its suburbs. You will be better served with an agent that is entrenched in your local community. Carol LeDoux specialize in Anoka County real estate and property and homes in the northern suburbs.
2. Do you have a personal assistant, team or staff to handle different parts of the purchase? What are their names and how will each of them help me in my transaction? How do I communicate with them?
It is not uncommon for agents who sell a lot of houses to hire people to work with them. As their businesses grow, they must be able to deliver the same or higher quality service to more people.
You may want to know who on the team will take part in your transaction, and what role each person will play. You may even want to meet the other team members before you decide to work with the team. If you have a question about fees on your closing statement, who would handle that? Who will show up to your closing?
3. Do you have a Website that will list my home? Can I have your URL address? Who responds to emails and how quickly? What’s your email address?
Most buyers initiate their real estate search online for homes because it’s available 24 hours a day and can be done at their convenience. You want to make sure your home is listed online, and exposed on as many web portals as possible. By searching your agent's Website you will get a clear picture of how much information is available online. Please take the time to explore the many advantages of www.MinnesotaHouseHunt.com. We welcome your comments and continually strive to improve our service.
4. How will you keep in contact with me during the selling process, and how often?
Some agents may email, fax or call you daily to tell you that visitors have toured your home, while others will keep in touch weekly. In establishing your criteria, Carol LeDoux will commit to contacting you with all showing and feedback from other agents.
5. What do you do that other agents don't that ensures I'm getting top dollar for my home? What is your average market time versus other agents' average market time?
Marketing skills are learned, and sometimes a real estate professional's unique method of research and delivery make the difference between whether or not a home sells quickly. For example, researching demographics could prove to be helpful when understanding who the buyers might be for a particular property. Being a local expert in understanding the market in your area is vital to the success of selling your home for top dollar.
6. Will you give me names of past clients?
Interviewing an agent can be similar to interviewing someone to work in your office. Contacting references can be a reliable way for you to understand how he or she works, and whether or not this style is compatible with your own.
7. Do you have a performance guarantee? If I am not satisfied with your performance, can I terminate our listing agreement?
In the heavily regulated world of real estate, it can be difficult for an agent to offer a performance guarantee. If your agent does not have a guarantee, it does not mean they are not committed to high standards. Typically, he or she will verbally outline what you can expect from their performance. Luke Team Real Estate understands the importance of win-win business relationships: the agent does not benefit if the client does not also benefit.
8. How will you get paid? How are your fees structured? May I have that in writing?
In Minnesota, the seller pays all agent commissions. Sometimes, agents will have other small fees, such as administrative or special service fees, that are charged to clients, regardless of whether they are buying or selling. Please take the time to become aware of the big picture before you sign any agreements. Ask for an estimate of costs from any agent you contemplate employing.
9. How would you develop pricing strategies for our home?
Although location and condition affect the selling process, price is the primary factor in determining if a home sells quickly, or at all. Access to current property information is essential, and sometimes a pre-appraisal will help. Ask your agent how they created the market analysis, and whether your agent included For Sale by Owner homes, foreclosed homes and bank-owned sales in that list.
10. What will you do to sell my home? Who determines where and when my home is marketed/ promoted? Who pays for your advertising?
Ask your real estate agent to present to you a clear plan of how marketing and advertising dollars will be spent. If there are other forms of marketing available but not specified in the plan ask who pays for those.
|