Most of us – unless you are already an expert in selling property – will require the services of a real estate agent to sell our home for us. Although they will take a percentage of the sale, they will also give you an accurate idea of how much your house could sell for, and they will be able to get a much wider range of potential buyers into see your home than you possibly could. Like with every other industry in the world, some companies in the field of property agencies are better than others. Here are a few things to make sure you ask your potential real estate agent.
1) How much do they think your home will go for on the market?
Get a variety of real estate agents to come in and look at your property. The more quotes you get for how much it will go for on the market, the more you’ll get a sense of what it will actually go for. Ambitious real estate agents will offer more, but will probably ask you to take a lower offer when no one is willing to pay the price they originally quoted. When moving to a new home and selling the old one, it is important to go with the real estate agent who is quoting you the most realistic figure – not the one that is offering you the highest.
2) What is their track record in selling properties?
Whether you want your house sold a.s.a.p. or you are willing to be patient and wait for the right offer, it is important to know how successful agents are at (a) selling houses and (b) getting offers closest to the asking price. If they have a notoriously bad track record, then you could be waiting for months, if not years, to sell your home, and even when you do you may still have to sell it less than you originally wanted to.
3) What professional organizations are they members of?
All real estate agents should be a member of the National Association of Realtors (NAR) or a similar one.
They should proudly tell you if they are. The Code of Ethics and Standards of Practice, Model Bylaws, MLS Handbook, and other policies are to be followed and with it comes a level of professionalism. If they are not a member, then it is best to stay far away. Go with a real estate agent or agency that is locally or nationally recognized, reliable, and professional.
4) What is their rate?
Real estate agents will charge from 1% all the way up to 3% of the price of your home if they sell it. It is important to remember that, as they are negotiators themselves, their rates are negotiable. So if you like a haggle, then try and get their rates down lower than they already are. If a real estate agent is offering a particular low-rate, say 0.5% or 1%, you need to ask yourself why they are charging such a low rate: is it because they are a new company and want to get their business of the ground? Or is it because they are simply not that good at what they do?
5) How will it promote your property?
The best way to get the offer you desire is to promote your property. And the best way to promote your property is to hire a real estate agent. Ask them how they plan to promote your property. Are they actively going to be suggesting it to customers coming into the store, or are they just going to sit back and let it sell themselves? Will they plan advertising out in property literature or internet sites? Or do they just plan to display in their shop window? Knowing their plan of action will lead you to make a decision which you are more informed on.
About our guest blogger:
Ella Andrews is a dedicated writer and blogger, who has an exceptional flair for home improving and home maintenance projects. She is constantly searching for new sources of inspiration. Presently she contributes articles mainly on house selling/buying thematic, as this is what motivates her most.
So true that you need to match yourself with an outstanding real estate agent.