No matter what kind of market you are in it takes professional experience and knowledge to accomplish a successful sale. In a sellers market, selling your home is easy. Take the highest comparable sale, add $5,000 to the price, put up a sign, put it in the MLS and go back to the office and count the offers. In an even market or a buyer's market, things get a whole lot more complicated. This market will separate the men from the boys when it comes to realtors and how they will market your property.
You are intrusting your families most prize possession and the quality of life that your family will experience through this transaction to someone that you may not know. You will want to make sure that person is trustworthy and honest and will put your best interest above their own.
1. Interview at least 3 realtors
2. Many realtors will try and impress you with their company. They all say they are #1 in something. #1 in the state, #1 in the world, #1 in your neighborhood. #1 most visited internet company. IT IS NOT ABOUT THE COMPANY! IT IS ABOUT THE PERSON YOU ARE HIRING. Remember, the more they talk about their company’s success, the less personal success they have. You want to know what THEY have done not what THEIR COMPANY has done!
3. Compare Marketing Plans, they are not all the same! Which one is better and why? YOU MUST CHOOSE A REALTOR BASED ON THEIR MARKETING PLAN!...WHAT ARE THEY GOING TO DO FOR THE COMMISSION THEY CHARGE? REMEMBER! IT IS NOT ABOUT WHO'S NAME IS ON THE SIGN IN YOUR YARD. IT IS ABOUT WHO CAN PUT YOUR HOME IN FRONT OF THE MOST BUYERS IN THE WORLD!
4. Go to Realtor.com and see how they market their listings. This is where 86% of buyers go to look for Pictures and Details. This is how your home will look online to the world.
5. Stay away from discount or cut rate brokers. There are many other reasons for this advice. The main one is I can prove that you do not save money; it will in fact cost you more in the end. It is not what you saved on commission that counts; it is what you walk away with at the closing table that counts.
6. Never choose a realtor that says he can get you more money for your home then all the other realtors. They are just trying to get your listing. Their strategy is to get your listing and then bug you every week to lower your price. The market price is the market price for that home in that area at that time. No one is going to pay more because of the Realtor that has your home listed. The value of a Realtor is in the negotiations between contract and closing to insure that you get the best possible results.
7. Never choose a Realtor based on their location to your home or their knowledge of the area. That realtor could live next door to you and may know your neighbors or even the name of the lady that works at the cleaners, but when it comes to knowing your area, what you will get for your home is known by any experienced realtor. Appraisers very seldom live in the area where they are appraising homes. The comps are the comps! Choose a realtor based on their marketing plan and attitude. I don’t care if they live in New York; if their marketing plan is better that’s who I would hire. They should be able to provide you with quality service no matter where their home or office is. 8. Sellers always ask and are told to ask a realtor "how long have they been in the business" and "how many listings do they have?" What they are trying to find out is if that realtor is experienced. Neither one of these questions will answer that question. I know realtors that have been in the business over 30 years and still do not have a clue what it is all about. They could still be doing real estate as a hobby or part time. I also know realtors that have 40-50 listings because they never sell any of them. What you want to ask and have a right to know is "How much money did you make last year selling real estate?" Realtors start to squirm when you ask them that. If they do not make over $100,000 in gross commissions and are unable to prove it they are not aggressive enough. Remember, you are doing the hiring, you are the boss. You are intrusting what could be the largest investment in your life to someone. You have the right to know everything you need to about the person you are hiring. You want an experienced realtor. Inexperience will cost you time and money. Production level is more important then the number of years in the business.
9. Remember "IF IT IS NOT IN WRITING IT DOES NOT EXIST" Make sure you get a Marketing Plan from the Realtor of your choice, outlining what exactly is he or she is going to do to market your home and what will the commission fee be for this Marketing Plan.
Wrong Reasons for Choosing a Realtor
1. Location of their office
2. How well they know your area
3. They can get you a higher price
4. Years of experience
5. Number of listings
6. Male or Female
7. Lists or sells more property in my area
8. Commission
9. Family members or friends including referrals
10. They send you stuff in the mail
11. The Company they work for.
Questions to Ask a Realtor
1. Would you show me your certificate from real estate school?
2. Could I please see a copy of your 1099 from last year?
3. Most realtors put their listings in the MLS and on the Internet, what do you do that is better then everybody else?
4. Do you have some samples of you property brochures? (you want to make sure that there is a price on the brochure) People get mad when there is no price on the brochure or there are no brochures in the box. They will not call to get a price! This is information that should be on the brochure along with pictures and details. All brochures need to be in color with 95% of the content about your home. Not about the realtor and their services.
5. Do you put additional photos, details and virtual tours on Realtor.com and on the MLS? If the answer is “No”, DO NOT HIRE THEM! If the answer is “you don’t need that”, Absolutely, DO NOT HIRE THEM! If the answer is “YES” then ask, Could you show me please?
6. Will you update me at least once a week with feedback on showings and a report on the internet traffic?
7. Will you prepare a market analysis for me, showing what you believe my home will appraise for and what you believe it will sell for? Please base your findings on a 120 day marketing time.
8. Could you give me a list of at least 3 of your past sellers and their phone numbers that I could call for references?
9. Would you please leave me a copy of your marketing plan and Market Analysis for my home?
YOU SHOULD FEEL COMFORTABLE WITH THE REALTOR OF YOUR CHOICE.
BASE THE REST OF YOUR DECISION ON THEIR MARKETING PLAN FOR YOUR HOME
