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So, I am about to start interviewing realtors, something I should have done the first time around but I am stuck for a little bit more with someone incompetant. Can you guys help me with questions I am supposed to ask to find the right one? Thanks
If you're a seller in an area where prices are declining and there's lots of competition (like many today), the most important questions are:
1. How many homes have you sold in the last three months?
2. How long were your listings on the market?
3. What was the difference between your original list price and the ultimate sales price?
Assuming you want to sell and not "test the waters," these questions will help you find a realtor who knows how to price a property properly. In a typical market, a home should sell in 90-120 days. (Certainly no more than 180 days.) In a declining market-- by definition-- the longer your home is listed the less it will ultimately sell for. You don't want to overprice, sit for a while and then start the price drops-- it will cost you money. You want someone who can nail the price on the first try. And then you need the guts to list at the price they recommend.
If any realtors disagree, please chime in and give your reasons.
Those are good questions. Th one thing you should avoid doing is hiring an agent because of the commission they charge or who is going to put your house up for the highest price. And if they charge the lowest commission and also will put your home up for the highest price, I suggest you run!!! Whoever you think comes in with the best marketing plan as well as a good reason for the price they are suggesting is the one you should go with. Whatever you do please don't go with an agent because of the commission. I have seen too many people burnt because of this.
Talk to them and see if they listen to you. I hear so often people telling me they told thier agent they wanted to stay under 250,000 and they kept showing them 500k homes. For me it is an issue of personality, honesty, and ability to listen. tell them what you are seeking and see if the emails you get back come close. out of fairness be clear about what you ask for.
Don't go with the ones that advertise with Billboard
There is one here and almost always his listings are way overpriced. Sometime without seeing the listing agent I can tell its his listing just from few paramteres of the house in the region. On few of them that I tracked he has followed the market down an I feel for those sellers. I said to myself when I become a seller I won't have that kind of agent and I don't even own home......just yet.
Thanks everyone! I definitely won't go with an agent regarding commission or what if they say my house is worth more than what I know it is. I have my house priced right now so hopefully we get some traffic. I've had problems w/our current agent, no one in the office seems to be willing to show it yet people are banging on my door to see it because no one in the office is responding. Little did I know (or was I told) that our agent is going thru a really nasty divorce and also selling HER house in our neighborhood...wish I knew this beforehand. Just a few more weeks to go before my contract is up and I am moving on to someone who will hopefully do a much better job.
..wish I knew this beforehand. Just a few more weeks to go before my contract is up and I am moving on to someone who will hopefully do a much better job.
My question is why waste anymore time with someone who is not doing the right job for you? Just because you have a listing agreement with this agency does not mean you are stuck there until the end. Call the broker of this company, tell them you are pulling the listing now and give them all the reasons why.
As for finding a new agent, ask friends/relatives who they used the last time they bought or sold who they used and if they were happy with them.
Here are some questions to ask potential new agents:
What websites on the internet will you market my home?
Do you offer a virtual tour and how many pictures do you plan on using?
How are appointments for showings handled with your company? Who takes care of the phones over the holidays/weekends if the office is closed?
Do you do Open Houses? If not, why not?
I would like to see listing details from all the houses sold in my price category in this area in the last 3 mos. I also would like to have a copy of your marketing plan for my house.
What is the current absorption rate for this area?
Look over my cancelled listing and my home and tell me what more I can do to help you get it sold asap.
Of the listings you take, how many sell... an agent that takes 5 listings and sells 4 is better then one who takes 40 and sells 8. One knows what he/she is doing, the second "throws enough %*)$ against the wall hoping something sticks.
I got these from a handy book that I like. I have used these questions (or variations of them) in every interview.
1. How many years have you been in the real estate business?
2. How many years have you been with this company?
3. How many residential real estate transactions did you complete in each of the past two years?
4. What was the dollar volume of your transactions in each of the past two years?
5. What percentage of your business is with home buyers? What percentage of your home-buyer business is with first-time buyers?
6. How old are your clients, on average? Do they have children?
7. What was the price range of the homes you helped people buy and sell last year?
8. What would you say was the average price of the homes you helped your clients buy and sell?
9. Are you an exclusive buyer broker? Do you ask home buyers to sign an exclusivity contract? Do you charge an up-front fee that is later applied to the commission?
10. What are the primary neighborhoods or communities in which you work?
11. How familiar are you with the schools, crime statistics, and demographics of the various neighborhoods? (Brokers are forbidden to "steer" you to one neighborhood or another for any reason. For the same reason, they may choose to tell you where to go to get information on crime or schools, but opt not to tell you themselves.)
12. What style of home do you most frequently work with?
13. How many home buyers or sellers do you work with at a given time? (You're trying to find out how much time you'll get from the agent.)
14. How frequently will I hear from you? How do I reach you? Can I e-mail you? Or phone you at home? Are you planning any extended vacations in the next six months?
15. Do you work with an assistant? Will I be working with the assistant or with you?
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