Not all real estate agents are equally skilled or committed to quality service. When selling your home, you should establish specific criteria for selecting an agent who has qualities, skills, and resources which will best meet your needs.
Selecting an agent is a critically important decision in terms of your satisfaction with the real estate transaction. There are very specific questions you should be asking a prospective agent to ensure that you get the best representation for your needs. Many agents would prefer that you don't ask these questions, because they may not have some of the following skills or qualities: marketing expertise, knowledge of the marketplace, negotiating skills, and a proven track record of success.
Hiring a real estate agent is just like any hiring process —identifying the person or people who best meet your needs, and who will work in your best interest. After all, the sale of your home is a significant financial transaction and you will need skilled representation.
1 - Does the real estate agent and his company have a presence in the neighborhood where your home is located?
If the real estate agent you are interviewing is unfamiliar with your neighborhood real estate marketplace, or if the real estate company with whom he is affiliated does not have a significant market share of listings and sales, you are probably not talking to an agent who can best meet your needs. Agents who are unfamiliar with the neighborhood where your home is located are more likely to make mistakes in pricing and/or representations about your home, neighborhood, schools, etc., which could potentially cost you thousands of dollars and result in a nightmare of an transaction.
So try to interview agents who are familiar with your neighborhood and who work for real estate companies with a strong regional or national presence. Agents who have listed and sold homes in your area are more likely to have first hand knowledge of other homes like yours in the neighborhood which have recently sold, and therefore, are more helpful as a resource to you in determining the optimum price for you home.
2 - Does the agent have a proven track record of success?
In today’s residential real estate industry, the top 10% of agents do more than 80% of the business sales volume. Typically, these agents are the best and the brightest, thoughtful, creative, and skilled in their business practice. Hire a skilled, successful agent who takes seriously his obligation to represent your best interests in the marketing and sale of your home. Hiring an agent should be a self-interested business decision—this is not a time to do a favor for a friend, beginner, relative, etc.—at your expense.
It costs no more to hire the best; and in fact, you are likely to save thousands of dollars and avoid mistakes and hassles.
3 - Does the agent have systems and support staff in place to meet the demands of servicing multiple sellers and buyers?
If you agree that it is to your advantage to hire a successful, knowledgeable real estate agent, then you should next determine which of those successful agents have systems and support personnel in place to ensure that the marketing, sale and closing of your home is carefully attended to.
There are many time– consuming aspects of the real estate business—planning, marketing, client communication, showing homes to buyers, negotiating contracts, plus the complexity of coordinating the closing of a real estate sale. Beware of the “Lone Ranger” agent who has no support personnel—juggling the demands and expectations of multiple buyers and sellers. The likelihood of a smooth, successful transaction is greater when you hire an agent who has systems and support personnel in place.
4 - Does the agent have a marketing plan to sell my home? Advertising, promotion, etc.
Good, effective marketing is the engine that delivers buyers and agents to you home. As with any commodity, (assuming appropriate pricing) your home is more likely to sell for a premium price as a function of the number of buyer prospects who know about it.
An agent, who claims that advertising and other promotional activities don’t work, is an agent who either doesn’t want to spend money promoting your home or who doesn’t have a marketing plan. Your home will sell more quickly and for a premium price with effective marketing using current technology.
5 - What systems does the agent have in place to up-date me during the sale?
One of the biggest complaints that sellers have about agents is bad communication. Ask the agent what systems and procedures are in place to assure good communications.
6 - How does the agent use technology in his business?
Agents who have not incorporated the tools of technology in their real estate business are not as likely to be among the leaders of their Profession as those agents who have.
7 - What does the agent do that sets him apart?
Why should I list my home with him? What unique plans and programs does this agent have in place to make sure that your home stand out favorable versus other competing homes? What things does this agent offer you that others don’t do to help you sell you home with the least amount of hassle and for the most amount of money?
8 - Does the agent have a list of references?
Ask for a list of recent references and make several calls asking for an evaluation of the agent’s services.
