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When you’re ready to sell your home, one of the most important decisions you will need to make is choosing the right real estate agent.
Today I’m writing about some guidelines to help you choose a fantastic agent who’ll ensure your home sells for its maximum value.
A great real estate agent provides services that demand a very high level of expertise. They –
Counsel you on how to prepare your home to sell
Help you understand the market and determine the right price
Market your home using everything from the Internet to their own databases and more
Expertly negotiate and finalize your home sale contract
Work with all parties to ensure all paperwork, disclosures and conditions are documented properly
In the Bay Area – the most intensely competitive real estate market in the nation – each of these areas demands above average skill and market expertise. A great agent has in-depth experience representing many home sellers (including recent sales) and is diplomatic, honest, ethical and reliable.
The transaction costs associated with selling a house are significant – it can be up to 6% of the sales price, with 3% going to the agent representing the buyer and 3% to the agent representing the seller. Discounts or discount brokers are also available in many cases. So you should absolutely interview more than one agent and take the interview process seriously as sometimes you get what you pay for!
I’ve chosen to work with my mother’s uncle’s daughter’s boyfriend, who’s a realtor.
Really? Referrals are important but only if they lead you to a good agent. To get started, ask neighbors and friends for referrals – and check them out online. Does the agent’s website look professional and like they understand how to leverage the Internet? Have they posted client testimonials? You can also use sites such as Zillow and read client reviews of Realtors in your area.
Interview Questions to Help You Select a Realtor to Sell Your Home
How long have you been in residential real estate? Is it your full-time job?
Real estate is primarily learned on the job, and if the agent you’re interviewing is not a seasoned professional, they should at least be on a team managed by a leading agent with many transactions under their belt. Even veteran Realtors learn something new every day it seems as this industry continues to evolve. Years of RECENT experience can be especially important in a market like California, with sophistication and legal complexities along with changing regulations
What separates a Realtor from the competition?
A great agent won’t hesitate to answer this question and will respond with plenty of details about why s/he is excellent. Every seller has their own needs, but in my experience most clients say they want an agent who is …
Honest and trustworthy with testimonials/references to prove it
Assertive and with personal presence
Highly resourceful at marketing, with a proven system in place
A creative, effective negotiator
Readily available by phone or e-mail
An excellent communicator and listener
Analytical and able to accurately gauge the market
Able to predict market value of your home “as is” and with strategic updates
Able to maintain a good sense of humor under trying circumstances
Friendly and personable – able to problem solve with grace
Professional – this is their full time job and they dress for it and show up each day
Essentially willing, able, trained and ready to show up and represent you and your most expensive asset with the highest skill set and experience to get it sold properly
How many homes did you and your team sell in the last year? Can you provide a list of those homes?
This can give you a good idea of how much experience this agent has, how organized they are, and whether they have a solid support system in place. A look at their specific listings will help you understand if they’re the right agent for your home. And if the agent can provide you with the phone numbers for those sellers, that will demonstrate their confidence in providing great service and earning delighted clients.
How many days does it typically take you to sell a home?
Days on the market is incredibly important in real estate sales … Everyone knows that if your home is not priced correctly for the condition or location, it will sit longer than the market, which typically results in a lower sales price.
Each agent you interview should offer a comparative market analysis (a comparison of recent and pending sales of homes similar to yours) and know enough about the neighborhood and recent sales to explain why you should list your home for more or less than the neighbor down the street who sold last season. Don’t fall for the agent who glibly promises the highest price, with no analysis to back it up – and who may only want to get their sign in your yard to generate future business for themselve
What percentage of the homes you’ve sold went for over the listed price? Did you have to adjust the price on any of your listings, and if so, why?
In recent years, the market for homes in our East Bay neighborhoods has been generally good to great. A fantastic Realtor will know how to make the most of this market and a solid percentage of their homes will have sold for the right price or a bit more. Just beware – some agents may tell you the price YOU want, only to get the listing, and then come back for price reductions when your home sits. This old strategy will not bode well for your home sale.
What marketing system will you use to sell my home?
Even today, many real estate agents just put a sign in the yard, put it on the MLS and PRAY! … Not nearly good enough! Look for an agent who is innovative, savvy and will go the extra mile to market cleverly. Online marketing expertise is imperative. Today, over 90% of buyers start their home search online. Your agent needs to use high quality photographers and have a system in place to rapidly post your home to all key real estate sites. Ask them to explain their marketing system and standard timeframe. Will they create a video? Email their database? Do local ads or postcards? These approaches bring proven results and the agent should speak to this and show you past examples of their efforts.
Can you recommend professionals who can help me obtain a mortgage, update my home, landscape, organize, stage, etc.?
The right Realtor can be a fantastic resource as you evaluate and prepare your home for sale. An agent with an established team of excellent professionals can save you a lot of time – and help prepare your home to sell for its maximum value.
What updates will increase the value of my home? Can you show me examples in which you’ve advised clients to make specific updates and accurately predicted what the house will sell for?
In addition to having a partnership with reliable professionals, your agent should also be able to counsel you with confidence on what home improvements will give you a return on investment. Speaking with former clients will help you gauge an agent’s skill in this area. Asking them to provide examples of homes for which they advised renovations and predicted the ROI is a nice way of saying – prove it! A confident, seasoned agent will be happy to show you their success stories!
What type of support system and office resources do you have?
I believe it’s important for an agent to have at least one assistant. Today, many agents have a team of specialists to help them. Marketing a home is much more sophisticated and time-consuming in today’s market. There are many possible marketing outlets, online and otherwise, and they all require feeding and nurturing, plus communicating with the sellers. In addition, there is a long series of operational and legal steps that need to be done with precision for every transaction.
Could you please give me the names and phone numbers of several of your most recent clients?
Referrals and testimonials are critical. Ask recent clients if they would work with this Realtor again, then just ask every question you’re interested in. You are interviewing agents in a competitive market, and the Realtor you select will be lucky to get the job – get the information you need!
What Haven’t I Asked You That I Need to Know?
This is a great question, and I recommend you pay close attention to how the Realtor answers this question because there is always something else you need to know. You want an agent to take their time with you – to make sure you feel comfortable with the agent’s knowledge and experience. Make sure they’re listening to you and understand how to counsel you and ask the questions that will allow her/him to meet and exceed your expectations.
The most important thing to remember is that choosing the right realtor to handle your most expensive asset is CRITICAL in today’s market. No one likes leaving money on the table and with extensive research and interviews; you can find the right realtor for the job!
Until next time….
Nancy Bennett has over 20 years of sales and marketing experience, with 12 of those years selling real estate in the East Bay. She’s the #1 Realtor in Concord, and a top 1% Realtor in Contra Costa County. Nancy has won the Five-Star Professional Award for Customer Service for 2012, 2013 and 2104.
Nancy is also a member of the National Association of Realtors, the California Association of Realtors, the Contra Costa Association of Realtors, and Contra Costa Realtors in Motion. She serves on the Agent Leadership Council at Keller Williams, as well as being a faculty member and mentor to new agents at her office.
Nancy is also licensed foster parent (with 4 foster kids at home now) and a volunteer with local organizations such as Meals on Wheels and Youth Homes in Walnut Creek. For more information, please visit www.BennettBetter.com or reach Nancy directly at: Nancy@BennettBetter.com.